Privacy, Security and the Blockchain

As the debate surrounding the potential U.S. ban on TikTok moves closer and closer to its eagerly anticipated conclusion, it is more essential than ever that companies address the larger issue at hand: the need to prevent any company, foreign or domestic, from exploiting individuals’ personal data for profit. This is the centralized control and ownership approach that Big Tech social media platforms typically base their fundamental business models on.

While the concerns surrounding TikTok are valid, I believe the focus should not solely be on one app or one country. Instead, companies should work toward creating and setting strict guidelines for handling personal data, digital identity and users’ privacy, regardless of their origin. 

Moving to the Blockchain

One way to ensure that personal data is secure and protected is through the use of Web 3-based, blockchain technology. Blockchain is a decentralized ledger that records transactions across multiple computers, servers or nodes, making it virtually impossible to alter or tamper with data. By utilizing blockchains, companies can store personal data securely and transparently, giving individuals more control over who has access to their information. Enhanced protection and growing interoperability offer users more control than ever before. As CEO of an ad-free, privacy-focused network, MeWe, I’m seeing this firsthand as we move to the blockchain.

Decentralization can be particularly beneficial to social media networks where the use of the blockchain can help combat issues such as fake news, disinformation and misinformation, as the technology can verify the authenticity of content, identity and sources. This can foster a more trustworthy and reliable social media environment for users, and this is why we’re seeing more and more new decentralized platforms emerging like Mastodon, Minds and Gab. 

Best Practices for Getting Started

When my organization made the decision to move to the blockchain, we didn’t do so lightly. We knew that there would be significant technical challenges and potential disruption to our 20-million-plus users but we also knew that it was the only way to truly offer the levels of user privacy and control that have long been our mission.

While we still have a long way to go to get to what we would consider our ideal user experience, we’ve learned a lot about moving from Web 2.0 to Web3, and here are some best practices that I would recommend to business leaders considering the move for their companies:

1. Understand the Technology

Before diving in, ensure that you and your team have a solid understanding of blockchain technology and that you have the right team to implement. This is critical to avoid an overly long development process and costly mistakes resulting in lost time and money.

2. Start Small

Begin with a pilot project or a small-scale implementation to test the waters and validate your assumptions. This will allow you to mitigate risk, learn from early successes and failures, and gradually scale up as you gain confidence and experience.

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3. Choose the Right Blockchain Platform

Select a blockchain that aligns with your use case requirements. We chose Frequency as it’s optimized for high-volume use cases required for decentralized social applications but there are many others out there, each with its own strengths and weaknesses.

4. Ensure Regulatory Compliance

Be mindful of regulatory requirements and compliance standards applicable to your industry and geographical location. Consult legal experts to navigate the regulatory landscape and ensure your blockchain implementation adheres to relevant laws and regulations.

5. Collaborate With Stakeholders

Involve relevant stakeholders, including executives, IT professionals, legal advisors and end users in the decision-making process. Collaborate closely with internal teams, external partners and industry insiders to validate your strategy and poke holes in it to test your assumptions and make your product better. 

6. Educate and Train Employees

Invest in employee education and training programs to familiarize your workforce with blockchain technology and its implications for your business operations. Equip employees with the necessary skills and knowledge to adapt to new processes and tools and to educate your users. 

Implementing personal data protection measures that use blockchain technology for storing digital identities and personal data can help prevent potential exploitation. By mandating strict guidelines for data protection, user control and transparency, companies can ensure individuals have the peace of mind of knowing that their personal information is safe from prying eyes and those with nefarious intent.

Furthermore, blockchain technology can also provide individuals with more control than ever over their own personal data. Through decentralized apps and smart contracts, individuals can choose who has access to their personal information, exactly what is shared and under what conditions. This puts the power back in the hands of the individual, rather than in the hands of profit-driven corporations.

The conversation around Big Tech legislation and the potential ban on TikTok, in general, should serve as a catalyst for companies to start implementing robust personal data protection measures. We can create a more secure and transparent digital environment that prioritizes individual privacy and data protection.

We need to take action and ensure that users’ personal data is safeguarded from exploitation. Regardless of what Congress legislates, there are several things companies can do today to prioritize their users’ data privacy and security. We must comply with relevant data protection regulations, and be transparent with users about the types of data collected, how it is used, and with whom it is shared. We need to provide clear and easily accessible privacy policies and terms of service, regularly communicate updates or changes, and educate users about best practices for protecting their privacy and security. We can empower users with tools and features to enhance their control over their data and digital identity.

By implementing proactive measures, companies can demonstrate their commitment to protecting user privacy and security irrespective of legislative developments — and build trust and confidence among their user base.