Blockstack Co-Founder: People’s Social Media Data Gets Monetized Negatively ‘Regularly’

During a recent sit down with Anthony “Pomp” Pompliano, Blockstack’s Muneeb Ali spoke to the Founder of Morgan Creek Digital Assets regarding a host of different topics including the future of DApps and how social media giants were often using their customers’ information/data for various shady activities.

Starting off, Ali mentioned that his firm was in the process of creating a fledgeling ecosystem that would allow people from all over the world to gain streamlined access to a plethora of unique DApps. Similarly, Ali also pointed out that he had created another dedicated dev team that had been tasked with the responsibility of devising an all new technology that would eliminate the need for cloud computing solutions — thereby, ushering in a new era of decentralization.

Social Media Companies are Not to be Trusted

On the subject of how social networking giants often misused the data of their customers, Ali unequivocally stated that there currently existed a large trust gap between firms like Twitter and their user bases — primarily because these big name companies frequently ”ripped off their own customers” by stealing their data and original content.

“The users help the company but there is no financial upside for the users.”

Final Take

In closing out this piece, it should be pointed out that Ali recently spoke with various media outlets regarding the creation of a new regulated token offering that will be offered to investors within the coming few months. Additionally, as per certain reports, this latest financial offering will be registered under the Reg A+ Exemption.

To help fulfil his vision, Blockstack will be conducting a token sale event so as to raise an extra $50 million for various development and marketing activities. Also, during this sale period, a little over 295 million STX tokens will be offered to interested investors at a base value of around $0.30 each.