IOTA to deliver a new, decentralized social media platform

Written by

Written on May 4, 2020

Reading time 2 minutes

IOTA is about to get its own social media platform where users would have control over their data.
The new platform comes in response to traditional social media that collects all user data and content.
The new platform, SOCIETY2, will also offer users to make a profit by watching ads and earning coins.

With modern society revolving around data control, the crypto/blockchain sector brought massive disruption. First, emerging technology disrupted the financial industry, giving people control over their funds. Now, it is working on doing the same with data.

The most recent step on the road of achieving data control was made only days ago by SOCIETY2. The project announced its own social media network based on the IOTA network.

The new social network was only announced on May 2nd, and it will provide users with full control of their content and data. The rise of social media in recent time — including Facebook, Instagram, or WeChat — put personal data of users in a lot of danger. These networks, as well as their partners, are freely collecting it and using it for their own purposes, and without consent.

https://twitter.com/accretionist/status/1256372459156144129

Even worse, they managed to convince people to not care. They simply provide benefits of their networks, and demand them to be paid in personal information instead of money. And, as long as it doesn’t cost money, people think of it as free, which is certainly far from being true.

SOCIETY2 users will finally feel what it is like to control their information and enjoy high levels of privacy. They can modify their own privacy levels themselves, and share some data, or none of it.

Earning rewards by watching ads

Users can also opt to view ads and get paid for doing it, which is not exactly original, but it is appreciated. Besides, the system based on micropayments will allow for profit sharing, fair revenue splits, and alike. Finally, it is worth noting that information shared on the network will be completely portable. Anyone who doesn’t want to remain on the platform can migrate elsewhere.

Similar decentralized social media projects have been emerging all over the blockchain industry. They typically try to encourage users to use their own native tokens. One example is Bitfinex, which announced its own social media, Pulse, only about a week ago.