LoveChain: How Blockchain Could Resolve Ever-growing Privacy Dilemma
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With ever-growing concerns about privacy and social media being accused of taking it all away, users are undoubtedly questioning if there’s a solution.
In 2014, Uber was accused of spying on its customers’ movements using technologies such as a map by its executives and workers.
Concerns have also been raised by cybersecurity experts concerning the use of ‘FaceApp’ software in another incident. A small Russian startup developed the software, and the images can be used in unexpected ways depending on their circumstances.
Various Facebook scandals, such as the Cambridge Data Analytica, have also brought to light fundamental concerns about the use, treatment, protection, and privacy of our data. One of the solutions that appear to be still untapped is blockchain-based technology.
Blockchain will be a viable answer to the growing problem of data privacy. Personal information can be protected thanks to the technology’s security and anonymity. The usage of random strings of digits known as public and private keys is a vital feature of privacy in the blockchain.
These keys are used to identify a person participating in a transaction without revealing their identity. This opens up possibilities for blockchain to protect data privacy and security.
Here Comes The LoveChain
To get ahead of the social media realm of blockchain, The LoveChain team aims to solve this. The team has put together a unique social media platform that delivers an offering that they hope will become one of the most popular platforms in the ever-growing social media environment in the spirit of love and blockchain technology.
The project aims to offer solutions to some of the most recurring issues:
Content creation support
The LoveChain rewards users for providing content and engaging with the site in a variety of ways. Users that agree to have their profiles advertised will be rewarded, with the chance of gaining further perks.
This rewards scheme will be powered by the LOVR token, which will be distributed according to a proprietary algorithm.
A remedy for hacking
Since The LoveChain is partly built on the blockchain, this reduces the risk of it being hacked, meaning the data and information that users supply will be safer than on centralized social media platforms.
No more fictitious accounts
To reduce the risks of fake or bot profiles being formed, The LoveChain will study new technologies and unique ways on the platform, such as biometric facial recognition, retina identification, and fingerprint technology. The users’ safety is critical.
Data Management
Users on The LoveChain platform will own their data and have control over the rights they grant to share it. They may, for example, choose not to share that information with any other profile or third party.
They can opt to share their data and content with other profiles, third parties, or both, and they will be rewarded in the form of LOVR tokens if they do so.
In the end, the user owns and controls the profile however they please.
Hence, with these ambitions in mind and blockchain willing to solve them, your privacy will be secured with LOVE.
OhNoRipple via https://www.ohnocrypto.com/ @Danish Yasin, @Khareem Sudlow