Recently, Jeffrey Edell, the chairman and CEO of MeWe, wrote an opinion piece arguing that the contentious issue between the US administration and China’s TikTok could be resolved by employing blockchain technology.
Edell leads a social media platform believed to have over 20 million users, which has successfully transitioned from the conventional web2 environment to the blockchain technology.
The TikTok situation
Several current news articles suggest that the United States is considering a complete ban on the Chinese social media platform TikTok. The concern is that ByteDance, the company behind TikTok, may have shared sensitive user data with the Chinese government, potentially threatening American security.
In an article published in Rolling Stone, Edell argued that the controversy surrounding TikTok essentially boils down to concerns over user privacy, which could have been prevented with a more decentralized approach.
“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.”
Edell noted that securing and protecting personal data can be achieved by implementing Web 3.0 and blockchain technology.
Transitioning to blockchain
According to CryptoMoon’s update, MeWe moved to the Frequency blockchain network, which is a parachain on Polkadot, back in April 2023.
In simpler terms, the case for user privacy through blockchain technology comes down to who holds and manages user information. With conventional social media sites like X.com, the company maintains both possession and access to all user data.
In simpler terms, when it comes to TikTok, it implies that ByteDance, and consequently the Chinese government, has control over all the user data – approximately 150 million American users included.
Through employing privacy settings on the blockchain to store user data, a social media platform enables users to personally manage their information while preserving the platform’s essential features.
Although MeWe’s user numbers don’t match TikTok’s current size, MeWe’s move towards implementing blockchain technology demonstrates its potential.
In his Rolling Stone article, Edell outlined six essential strategies for businesses contemplating adoption of blockchain technology. These strategies were: gaining a solid grasp of the technology, initiating small-scale implementation, selecting an appropriate platform, keeping abreast of regulatory updates, engaging collaboration with relevant parties, and preparing employees with the necessary knowledge and skills.
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2024-04-17 22:40