The recent Facebook congressional hearings on the (mis)handling of customer data has impassioned many of its users. The hearings themselves made a few things clear, and the public response shined light on a growing trend in a blockchain world: people want greater control over their data.
Congressional Facebook Testimony Underscores Need for Blockchain Technology
The facts are these: Facebook makes its money through ads, and those ads are worth more money if Facebook can provide information (freely offered by its users through a Terms of Service that they didn’t read) to tailor those ads. I can’t blame Facebook for wanting to make money; that’s just business. However, it should be no surprise that upon realizing just how much of their data was sold and to whom, users would want to change the relationship.