“The era of the Wild West in Social Media is coming to an end” said Democratic Senator from Virginia, Mark Warner.
On their way to trillion dollar market caps/valuations, social media giants like Facebook Inc., Alphabet Inc. (Google), and Twitter operate as their own countries, with massive power; their decisions have huge implications on the market and how citizens operate, communicate and conduct daily lives. Financially, when comparing Market Cap against GDP, these companies rank in the Top 20 countries in the world.
It is well-known that these corporations have engaged in foreign propaganda campaigns and spun their political bias on their platforms; along with greatly exposed consumers’ private data in exchange for monetary gain around advertising and news serving.
Incredulously, many believe the sleeping giant today is Amazon.com, Inc. The company has increasingly demonstrated a political bias; born by its Founder and CEO Jeff Bezos, through his vehicle/ownership in the Washington Post. Most insiders believe he will yield all influence he can to drive his social cause(s) and experiments.
While it may not have been since 1982 since the United States broke up the AT&T monopoly, the line in today’s sand is seemingly driven by the lack of competition, integrating political bias and worst yet, violating consumers trust and their inability to understand the short and long-term aspects of their privacy.
The ongoing political polarization of the United States population have sides fearing government control of the people and on the opposite side, seeking true socialism. The social tech companies now have global scale to broadcast and cater news, messaging and advertising to their discretion, which is the lynchpin as to why these companies need to be broken up.
The unfortunate fact is words are no longer spoken. Words are advertised. Goodbye to agreeing to disagree. This is a new world.
However, there is new promising technology out there that can help solve some of these issues. With the underlying use cases of blockchain technology, social media companies can be forever disrupted. Take for example the nature of blockchain itself - decentralization. By having no central system govern what news to be served, the people regain what is missing in today’s media - the truth.
“Cloud computing can not save us from ourselves but the blockchain’s system of accountability does fundamentally bring truth back into what we know.” said Lawrence Bergenfield, advisor to Las Vegas, Nevada based Aqua Intelligence.
Recently, he has begun advising a promising early stage company called Aqua Intelligence (Aqua_Intel: AQX). AQX has set out to solve data clarity issues with enterprise software starting in the hospitality sector to empower the trust economy both at B2B and B2C capacities. AQX’s enterprise solutions will bring transparency back to data. Beyond Aqua’s B2B platform, Aqua will be releasing its B2C platform that standardizes loyalty in an exchange allowing people to trade loyalty points from program to program with the use of AQX tokens.
“It is undeniable that Tech Companies are manipulating people and populations because they can. Banks were too big to fail because they knew it and took advantage of it. I joined AQX to help a team of people create new standards on empowering the trust economy.”
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