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A Supreme Court case could kill Facebook and other social media sites – allowing blockchain to replace them

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The Internet – perhaps the greatest invention in human history – has gone awry. We can all feel it. It’s harder than ever to know if we’re dealing with friends or foes (or bots), we know we’re constantly being watched in the name of better ad conversion, and we live in constant fear of clicking something and getting scammed.

The internet’s failures stem largely from the inability of the big tech monopolies—particularly Google and Facebook—to verify and protect our identities. Why don’t they?

The answer is that they have no incentive to do so. In fact, the status quo works for them, thanks to Section 230 of the Communications Decency Act, which was passed by the United States Congress in 1996.

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Related: Contracts will drive out tech giants – from Apple to Google

But things may be about to change. This term, the Supreme Court will hear Gonzalez v. Google, a case that has the potential to reshape or even delete Section 230. It’s hard to imagine a scenario where it wouldn’t kill the social media platforms we use today. That would represent a golden opportunity for blockchain technology to replace it.

How did we get here?

A key facilitator of the early development of the Internet, Section 230 states that web platforms are not legally responsible for the content posted by their users. As a result, social networks like Facebook and Twitter are free to post (and profit from) anything their users post.

The plaintiff in the case now before court believes internet platforms bear responsibility for the death of his daughter, who was killed by Islamic State assailants in a Paris restaurant in 2015. He believes algorithms developed by YouTube and its parent company Google “recommended ISIS videos to users”, leading to terrorist organization recruitment and eventual facilitation of the Paris attack.

Section 230 gives YouTube a lot of coverage. If defamatory content is posted, or in the above case, by a user, the platform can serve that content to several consumers before any action is taken. In the process of determining whether content violates the law or platform terms, a lot of damage can be done. But Section 230 protects the platform.

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Related: Crypto breaks the Google-Amazon-Apple monopoly over user data

Imagine YouTube after Section 230 is deleted. Does it have to put 500 hours of content uploading has been done Every minute in the review queue before anyone else is allowed to view it? This will not scale and will remove a lot of the engaging immediacy of the content on the site. Or will they allow the content to be published as it is now but take legal responsibility for every copyright infringement, incitement to violence, or defamation word uttered in one of his billionaire videos?

Once you pull the thread of Section 230, platforms like YouTube quickly start to fall apart.

Global implications for the future of social media

The case focuses on US law, but the issues it raises are global issues. Other countries are also grappling with how best to regulate internet platforms, particularly social media. France recently ordered manufacturers to install easily accessible parental controls in all computers and devices and banned the collection of minors’ data for commercial purposes. In the United Kingdom, it was officially discovered that the Instagram algorithm contributed to the suicide of a teenage girl.

Then there are the authoritarian world systems, which Governments step up censorship and efforts to manipulate by leveraging armies of trolls and bots to sow disinformation and mistrust. The lack of any practical form of identity verification for the vast majority of social media accounts makes this situation not only possible, but inevitable.

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And beneficiaries of the economy without section 230 you might not expect. Many individuals will file lawsuits against major technology platforms. In a world where social media can be held legally responsible for the content posted on their platforms, armies of editors and content moderators will have to be assembled to review every image or word posted on their sites. Given the amount of content that has been released on social media in recent decades, the task seems almost impossible and is likely to be a triumph for traditional media organizations.

Looking a little further, the demise of Section 230 would completely upend the business models that drove the growth of social media. Platforms are suddenly responsible for an almost unlimited supply of user-generated content while powerful privacy laws constantly squeeze their ability to collect massive amounts of user data. It would require a complete re-engineering of the concept of social media.

Many platforms misunderstand it like Twitter and Facebook. They believe that the software they use to log into those platforms, post content, and watch content from their network is the product. Not. Moderation is the product. And if the Supreme Court overturns Section 230, that completely changes what products we think of as social media.

This is a huge opportunity.

In 1996, the Internet consisted of a relatively small number of static websites and message boards. It was impossible to foresee that its growth would one day cause people to question the very notions of freedom and safety.

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People have just as basic rights in their digital activities as they do in their physical activities – including privacy. At the same time, the public good requires a mechanism to sort facts from misinformation, honest people from fraudsters, in the public domain. Today’s Internet does not meet any of these needs.

Some argue, either overtly or implicitly, that a healthier, more digital future requires difficult trade-offs between privacy and security. But if we are ambitious and deliberate in our efforts, we can achieve both.

Related: Soon Facebook and Twitter will become obsolete thanks to blockchain technology

Blockchain makes it possible to simultaneously protect and prove our identities. Zero knowledge technology It means we can verify information — age, for example, or professional qualifications — without revealing any physical data. Soulbound tokens (SBTs)And the Decentralized Identifiers (DIDs) and some forms Non-fungible tokens (NFTs) It will soon enable anyone to transfer a single cryptographic identity across any digital platform, current or future.

This is beneficial for all of us, whether in our work, personal or family life. Schools and social media would be safer places, adult content could be reliably restricted by age, and intentional misinformation would be easier to track.

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The end of section 230 will be an earthquake. But if we adopt a constructive approach, it could also be a golden opportunity to improve the Internet we know and love. By creating and proving our identities with on-chain cryptography, we can better prove who we are, where we stand, and who we can trust.

nick daze He is the co-founder and CEO of Heirloom, a company dedicated to providing no-code tools that help brands create secure online environments for their customers through blockchain technology. Dazé also co-founded PocketList and was an early team member of Faraday Future ($FFIE), Fullscreen (acquired by AT&T) and Bit Kitchen (acquired by Medium).

This article is for general information purposes and is not intended and should not be considered legal or investment advice. The views, ideas and opinions expressed herein are those of the author alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

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BNT/USD is trading near the $0.50 resistance

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The Bancor price prediction shows that BNT is crossing the 9-day and 21-day moving averages while the coin is taking off to the upside.

Bancor Prediction Statistics Data:

  • Bancor price now – $0.34
  • Bancor’s market capitalization is $55.8 million
  • The circulating supply of Bancor – 162.5 million
  • The total supply of Bancor – 162.5 million
  • Bancor Coinmarketcap Ranking – #287

BNT/USD market

Key levels:

Resistance levels: $300, $310, $320

Support levels: $130, $120, $110

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BNTUSD – daily chart

BNT / USD It is currently trading at $0.345 after touching a daily high of $0.490, and is likely to return above the 9-day and 21-day moving averages. However, in case the buyers can push the price above the $0.50 resistance level, then the daily candlestick may close above this level, and the price may rise towards the upper boundary of the channel.

Bancor Price Prediction: Bancor is preparing for an upward movement

According to the daily chart, the Bancor price It is moving near the $0.40 resistance level as the coin is preparing for additional gains. The technical indicator’s RSI (14) is also moving to cross above the 50 level, where the signal line is pointing up to signal a buy signal.

However, if buyers are able to push the price and hold it above the 9-day and 21-day moving averages, Bancor price could rise towards the upper boundary of the channel to reach the potential resistance levels at $0.50, $0.55, and $0.60. While crossing below the lower border of the channel, it could lift the currency to the support levels at $0.25, $0.20, and $0.15, respectively.

Against Bitcoin, Bancor is following a bullish rally, and it could swing higher to cross above the upper boundary of the channel that could identify the resistance at 2400 SAT and above. On the other hand, if the market price crosses the lower boundary of the channel, it may reach the support level of 1800 SAT and below.

BNTBTC – Daily Chart

However, the technical indicator’s RSI (14) is currently moving to cross above the 50 level as the signal line is pointing north to confirm the upward move. Moreover, any further upward movement may create additional gains above the channel.

But, Dash 2 Trading It gives you the ability to improve your trading and scalping profits with effective crypto trading recommendations, automated trading, and analytics features. There is a D2T token pre-sale going on and time is running out. The launch of the pre-sale dashboard is coming soon as the product developer is ahead of schedule. To date, the prequel has raised nearly $12 million.

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Dash 2 Trading
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  • Know Your Customer verified and reviewed
  • The original code for the crypto signals ecosystem

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DYDX/USD could rise above $1.20

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Since the coin starts the upward movement towards the upside, the dYdX price forecast is likely to move steadily inside the channel.

dYdX prediction stats data:

  • DYDX price now – $1.10
  • DYDX market capitalization – $72.7 million
  • Circulating supply of DYDX – 65.5 million
  • Total supply of DYDX – 1 billion
  • DYDX Coinmarketcap Rank – #198

DYDX/USD Market

Key levels:

Resistance levels: $2.00, $2.20, $2.40

Support levels: $0.50, $0.30, $0.10

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DYDXUSD – daily chart

DYDX/USD is likely to cross above the 9-day and 21-day moving averages as the currency begins its upward movement. in the past few days, dYdX price Struggles to cross over to the positive side. According to the daily chart, the RSI (14) technical indicator moved to cross above the 40 level, confirming the bullish movement of the currency.

dYdX Price Prediction: DYDX is ready for an uptrend

the dYdX price It is currently moving north. If the currency continues its upward movement, the bulls may cross above the 9-day and 21-day moving averages, which could reach the resistance levels at $2.00, $2.20, and $2.40. At the time of writing, DYDX/USD is showing a slight bullish movement on the daily chart.

Conversely, if the coin slips below the lower boundary of the channel, it may bring the coin back to the $0.50, $0.30, and $0.10 support levels, respectively. Meanwhile, long-term buyers should not be alarmed by the small impact down the road, as the future of DYDX is assured as evidenced by the technical indicator’s RSI (14).

Against Bitcoin, dYdX price is hovering below its 9-day and 21-day moving averages as the coin is poised for an upward move. The technical indicator’s RSI (14) also confirms the upward movement as the signal line encounters the 40 level. On the contrary, a potential downside move could emerge if the market price crosses below the lower boundary of the channel, which could reach the support level 200 SAT and below.

DYDXBTC – Daily Chart

Meanwhile, any further bullish move above the moving averages could push the coin to the 1200 SAT resistance level and above, and this could take the coin to a new high, and the market could remain in the bullish zone.

But, Dash 2 Trading It gives you the ability to improve your trading and scalping profits with effective crypto trading recommendations, automated trading, and analytics features. There is a D2T token pre-sale going on and time is running out. The launch of the pre-sale dashboard is coming soon as the product developer is ahead of schedule. To date, the prequel has raised nearly $12 million.

Related

Dash 2 Tadawul – High Potential Pre-Selling

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Dash 2 Trading
  • Active pre-sale is live now – dash2trade.com
  • Featured in Cointelegraph – $10 Million Raised
  • Know Your Customer verified and reviewed
  • The original code for the crypto signals ecosystem

Dash 2 Trading


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SBF to Enter Plea Deal, Mango Exploiter Arrested, Celsius News: Hodler’s Digest, Dec. 25-31

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