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As a person of a certain age, Facebook is more meaningful to me than any selfie of fish lips or desire to bring out my inner influencer. It's a nice way to spend a few moments a day making an inventory of friends, family and acquaintances and admire the joys and sorrows that are the human journey. I know I'm not alone. But I spent the weekend commiserating with my declining number of Facebook cohorts who know they are in abusive relationships with their social media of choice.
One thing was to watch one or two ads, many of which were perfectly targeted. It's another thing for them to get rich with my personal information, make democracy less tamper-proof and then start covering their tracks through clever PR schemes.
I never went to Facebook for reality (if I had done it, you would know that your friends will not be able to have so much fun). I do not mind that Facebook knows something about my love for country décor or low fat recipes. In the end, it's advantageous. I also set my preferences based on what seemed to be their sincere concern for my safety. So this is not an outlet; it's a thank you note. And this is the thanks that I get?
The paid advertising model has been severely abused by Facebook. And the bleeding has begun. Trust has been eroded. Viewers are down 20%. IS 44% Users aged 18 to 29 have deleted the app from their phones in the last year.
Two important Facebook bases require serious adjustment if there is also a remote possibility of climbing out of its self-inflicted manure. The first is personal identification – simply put, verifying that you are who you say you are. The second one? A reward system to be a busy user. Both require an important reconstruction, not just another Band-Aid or mea culpa.
The dividend of data
At last year's Techonomy Forum, David Kirkpatrick interviewed Chris Hughes, former roommate of Mark Zuckerberg. Hughes suggested creating a "data dividend" to compensate for income inequality. He reasoned that, individually, our personal data are valid; collectively, we are creating a data-driven commonwealth. "I think it's reasonable to ask everyone who creates the data to share the positive side," Hughes said. Pandora's box.
Think about it. Grocery and department stores have rewarded loyalty forever in the form of coupons, discounts and refunds. In one form or another, they are giving their best customers the opportunity to share their profits. Should social media not do the same?
Enter Blockchain
While they could live in a bubble, Facebook executives do not live under a rock. At the beginning of the year, they announced the formation of a blockchain team that reported to David Marcus, a former PayPal executive. The blockchain, although limited in terms of scalability and speed at the moment, presents a new perfect scaffolding for Facebook to provide authentication ID, proof of origin and ownership. It would allow those who share their IP, time and personal IDs with Facebook communities to be rewarded, either in cash, encrypted or Facebucks (I get the author's rights if they go with "Facebucks." Technology can have it if they go with "FaceCoin").
Vinny Lingham, creator of Civic – a platform that, among other things, verifies the identity without the need for usernames or passwords – thinks it is the will, not the way, that is missing to Facebook. "The technology to solve the problem exists, but I'm not sure that the will or short-term economic benefits are aligned to force any change in the status quo," he says.
A new generation of fairer social media communities is forming as we speak. IOVO, Sapien, Streambed, Steemit and Live Planet (complete disclosure: my company has worked with Streambed and Live Planet in the past) are just some of the blockchain-based companies with variations on the theme "identify yourself" and "earn for you" Participation "theme: The days when companies will monetize personal data are coming to an end quickly and I would like to go with Facebucks.
Do I qualify?
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As a person of a certain age, Facebook is more meaningful to me than any selfie of fish lips or desire to bring out my inner influencer. It's a nice way to spend a few moments a day making an inventory of friends, family and acquaintances and admire the joys and sorrows that are the human journey. I know I'm not alone. But I spent the weekend commiserating with my declining number of Facebook cohorts who know they are in abusive relationships with their social media of choice.
One thing was to watch one or two ads, many of which were perfectly targeted. It's another thing for them to get rich with my personal information, make democracy less tamper-proof and then start covering their tracks through clever PR schemes.
I never went to Facebook for reality (if I had done it, you would know that your friends will not be able to have so much fun). I do not mind that Facebook knows something about my love for country décor or low fat recipes. In the end, it's advantageous. I also set my preferences based on what seemed to be their sincere concern for my safety. So this is not an outlet; it's a thank you note. And this is the thanks that I get?
The paid advertising model has been severely abused by Facebook. And the bleeding has begun. Trust has been eroded. Viewers are down 20%. And 44% of users aged 18 to 29 have deleted the app from their phones in the last year.
Two important Facebook bases require serious adjustment if there is also a remote possibility of climbing out of its self-inflicted manure. The first is personal identification – simply put, verifying that you are who you say you are. The second one? A reward system to be a busy user. Both require an important reconstruction, not just another Band-Aid or mea culpa.
The dividend of data
At last year's Techonomy forum, David Kirkpatrick interviewed Chris Hughes, Mark Zuckerberg's former roommate. Hughes suggested creating a "data dividend" to compensate for income inequality. He reasoned that, individually, our personal data are valid; collectively, we are creating a data-driven commonwealth. "I think it's reasonable to ask everyone who creates the data to share the positive side," Hughes said. Pandora's box.
Think about it. Grocery and department stores have rewarded loyalty forever in the form of coupons, discounts and refunds. In one form or another, they are giving their best customers the opportunity to share their profits. Should social media not do the same?
Enter Blockchain
While they could live in a bubble, Facebook executives do not live under a rock. At the beginning of the year, they announced the formation of a blockchain team that reported to David Marcus, a former PayPal executive. The blockchain, although limited in terms of scalability and speed at the moment, presents a new perfect scaffolding for Facebook to provide authentication ID, proof of origin and ownership. It would allow those who share their IPs, time and personal IDs with Facebook communities to be rewarded, either in cash, cryptographic or Facebucks (I get the author's rights if they go with "Facebucks". have them if they go with "FaceCoin").
Vinny Lingham, creator of Civic – a platform that, among other things, verifies the identity without the need for usernames or passwords – thinks it is the will, not the way, that is missing to Facebook. "The technology to solve the problem exists, but I'm not sure that the will or short-term economic benefits are aligned to force any change in the status quo," he says.
A new generation of fairer social media communities is forming as we speak. IOVO, Sapien, Streambed, Steemit and Live Planet (complete disclosure: my company has worked with Streambed and Live Planet in the past) are just some of the blockchain-based companies with variations on the theme "identify yourself" and "earn for you" Participation "theme: The days when companies will monetize personal data are coming to an end quickly and I would like to go with Facebucks.
