It finally happened. In the wake of deadly riots by pro-Trump supporters who stormed the US Capitol on January 6, a host of global and American organisations, including Deutsche Bank and the Professional Golfers’ Association, have cut links not just with extremist supporters of the American president but with Donald Trump himself.
15th Jan. 2021, New Delhi
Chief Analyst of ‘5 Jewels Research’, Sumant Parimal, a globally recognized tech analyst has said that the stage has been set for disruption of Big Tech. The brand owned social media platforms by the innovative and democratically distributed blockchain technology-based applications, commenting on latest actions of the brands owned by social media platforms like Whatsapp, Facebook, YouTube, Twitter in censoring US President Trump and his followers along with the subsequent data sharing policy update from Whatsapp, Parimal has said “These recent decisions of brand-owned social media platforms like censoring US President Trump by Twitter & Facebook and unilaterally circulating new data privacy terms and conditions by the Whatsapp to its users, clearly indicates that these social media platforms have gathered substantial powers in terms of unilaterally altering the power balance in the favour of the brand.
This shifts social media power towards the brands which own it from the consumers and users who have subscribed to it and have actually contributed to the growth of these social media platforms”. “These series of events have actually set a stage for disruption of brand-owned social media platforms by the distributed blockchain applications which work democratically and keep the power of social media in the hands of its users and participants.
Blockchain Tech. enables direct peer to peer communications and does not require any intermediary platform consolidator like Facebook, Twitter, Instagram, and the participants and users can have their own set of rules for communications. With the recent Whatsapp data privacy policy change event, millions of Whatsapp users are looking for alternatives for secure communication. This is the right time to launch Blockchain-based innovative solutions where users and consumers are in control of their data and content and evolve within their own preferences while communicating with the other users.” Sumant added further.
“What is required in the Blockchain domain is to set up standards and transaction protocols for wider innovation rather than controlling what and what not to be shared with the parties concerned, within their jurisdiction. So the social media industry is set to evolve from few technological brands and monopolistically controlled platforms to distributed and democratically controlled applications, based on social communication meshes where participants and users shall be in true control of their own data and information,” said Sumant Parimal.
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