Current State

Memo is currently enabling "likes" to be stored on the blockchain. People are excited about controlling their own data. Others are not happy about the potential bloat. What I see with decentralized personal 'profile' data is much bigger than just individuals controlling their data. The data is accessible, not just by individuals, but others too.
*If done with non-encrypted methods* (open) on the blockchain there are some interesting possibilities looking forward.
I'd like to extrapolate this and explore where a similar use case *could* go. I'm not advocating for or against it. I'm merely looking ahead to a potential line.
 

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  earned 25.0¢
The idea of fully opening everything would sound really creepy to many - despite your totally rational assessment that Facebook already does that. =)
It'll be a lot easier to get people on board, though, if people's profiles and activities are encrypted and obfuscated by default - but then shared (anonymously!) to advertisement companies _at a cost_. Activity after the sale remains obfuscated and will be worth something again when you accumulate enough of them.
This presents a problem to advertisers on how to prevent Sybil for cheap, but imo can make people a lot more willing to onboard. Everyone has a price, I'll happily sell my genetic information for $10,000. =P
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   2yr ago
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Nice post!
The big appeal to memo for me, right now is that it takes no data from you. This is my biggest pet peeve with mainstream social media. I think we need more apps that follow a low-cost pay as you use basis, with no data mined.
That being said, I do see a future with other types of social media where you can choose what you share and who sees it. But I am not sure if this should be used for ads. I think there should be as little ads as possible where applicable. Yours.org sets a good bar for a good clean look, no ads, and very cheap to use.
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   2yr ago
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Google came up with their data-gathering ad model in the zeroes and they called it "Personalization". Search & blogs and gmail all assembled a profile. Facebook of course took it further but also had better access to "likes" thus at times out-AdWords'ed Google. Google of course made a comeback thanks to finally monetizing YouTube which an educated guess says YT is now their #1 product-- especially in profitability.
However, adding to your point, it will be users SELLING their data which will bring this mainstream, and they will. People sell their sperm, their sexual organs, and their blood and organs, so of COURSE many will sell their profiles for even a few extra pennies per day. This is definitely the revolution which BitCoin (SV) will bring beginning in 2020 when the protocol is set & the downward pricing on data on-chain begins in earnest-- all formalized with MinerID and other structured BitCoin protocols.
It's just a question of time. Some of the FAANGs, but not all, I'm guessing maybe TWO of them (AMZN and Apple most likely, but NFLX has historically been strongly led), will adopt this new landscape before it's too late. Others will perish from it (Facebook being the most obvious candidate bc their mgt has always been awful and with zero vision). But this will all happen whether one gets on board or not. Expect several very BIG BSV companies to take advantage of it first and set the bar, pleasing both investors and customers (those selling their data). Also expect that the data will be structured in such a way that your manly best friend won't be able to figure out you love the Go-Gos "Our Lips Are Sealed" & your mother can't see you like Ween's "L.M.L.Y.P" song. But advertisers will have a certain access they can use to target directly to you. It's too easily commercial for all to let this idea slip by.
Private is important; BitCoin allows private.
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   2mo ago