Facebook is one of traditional applications that require user to trade off between thier privacy and ultilites. That means, users lose their data to Facebook to get the best contents and services advertised to them. The problem is that: Facebook monetizes the data of users by selling advertising services to bussinesses. I addtion to this, the risk of data breach is recently becoming a controversial issue.
Know can solve this problem by bringing the mutual information of users from many places into blockchain first, allowing users to re-use data and control the privacy of them. Knowchain also helps in protecting user’s right to their own data. The organizations can not exploit users’ data if the users do not give the permission.
“An phone with the Facebook app open next to Scrabble pieces arranged in the words “social media”” by William Iven on Unsplash
That also leads to the ability for users are able to get rewards by exchangin their data for service offers from organizations on Knowchain network: bussinesses and organizations can pay users to get permission of the data and advertise directly to them to promote for their service offers instead of paying the advertises or third parties like Facebook and Google.
It is noticed that no one including Knownetwork can exploit the user’s data illegally. When a user shares the data as public, a certain amount of Know will be rewarded to that user. The rewards system encourages users to share their data to get back Know or service offers from organizations and businesses.
Original article: https://medium.com/knownetwork/how-knowchain-can-solve-the-recent-problems-that-facebook-facing-up-705921136e21
Interesting reading