Even worse, in addition to the massive ad revenues these sites generate, their real main source of income is selling data generated through monitoring people's private lives. So called 'Surveillance Capitalism' is one of the fastest growing 'industries' and amounts to little more than selling your private information for profit!
Unfortunately many don't care and are not even concerned because they don't have any differentiation in their private vs public life. Today, majority of Fakebook users are from villages and don't do anything except consuming content. They want something to spend time on, and its an easy onboarding on these platforms. Then they don't care how these platforms use their data. To take #hive to masses we need a simple onboarding mechanism, something like OTP based sign up, with a custodian keeping their keys.
Please check out the new onboarding system that Inleo launched yesterday, it does exactly that. 3Speak also has a similar system going live soon.
This is a good move, Lite Accounts don't require anyone to download keys right away, but what I am talking is about a custodian saving the keys forever, unless the user wants it. Even if it withdraws funds, it should be able to validate based on an OTP sent to his mobile - simple for him. Dealing with keys definitely need some level of education.
This may be too much risk for people to want to take on, considering that users could potentially try to sue them if their funds go missing and also that their servers would become a high target for hackers. Ultimately, web 3 is about self ownership and responsibility, so it's best that people are educated - though it's possible someone may produce the functionality you are describing at some point.
Unfortunately, they are not, the majority of social media users in my country don't even understand how they benefit, its a good source of time pass for them.
@resonator some people do what they called follow your people mindset. They stick to what other people run to not minding what benefits, advantages, importance and the other way round it may bring. It is awesome to know about Web 3.0.