Earlier this week Facebook anounced a reshuffle of executives with an additional team challenged with researching best use of Blockchain in it's model.
So, after months and months of speculation about how Facebook would come out of the fray with it's users becoming more and more disillusioned with the misuse of their users data - they have finally adopted the latest in technology which was created to protect the majority from just such companies.
(https://goo.gl/bNbCvs - Link to C-Net article)
Blockchain technology using distributed ledgers and smart contracts protects users of all platforms across the entire internet from just such abuse.
The newest applications currently in development are being designed to create opportunities for improving your life by giving you ownership of your information, time and skills.
This change to Facebook's business model demonstrates the power of a collective of people standing up for what is Right.
The Blockchain arena is centered around changing all the practices of the past that kept the majority of the global population poor whilst making the very tiny 1% silly rich.
The equalising aspects of the emerging technologies are what is extremely appealing to the like so me who are focused on the social impact - i.e. the effect on you, me and the planet.
I am hopeful that now that Facebook has adopted Blockchain, the users of the platform will become better informed on how their data has been misused, how it can be changed and how they truly can benefit by earning money for their time on social media.
What's your stance on the situation with Facebook and Blockchain?
Do you see them making significant changes to ensure their users benefit first from their data or is this merely a meander around the issue?
#SocialImpact in technology is an essential part of the design and build process.
