Society2 to Launch IOTA Based Decentralized Social Media Platform; Exchange Privacy for MIOTA

IOTA's decentralised social media solution promises a whole new and highly secure take on social media

Society2, a new decentralized social media initiative by IOTA is trying to change the way the user’s personal data is handled on the internet.

The project called DeSM aims to help consumers regain control of their data and make social media a truly private experience. Though this project, IOTA node owners would be able to run their own social media websites and applications.

Today any internet-based service or application has become a sophisticated data phishing portal where they track and collect user’s personal data on the behest of offering their service.

Social media services, be it Facebook, Twitter, Instagram or similar other services collect every possible data of the user like their locations, their call record, their search history and then sell it to the highest bidder without any moral check. This not only puts the user’s interest and privacy at danger but if it falls in the wrong hands it can be conveniently used to harass the user as well.

While there have been many decentralized social media initiatives, they never enjoyed widespread adoption and Society2’s team is looking to change the factor.

The developer team has started to develop an IOTA-based DeSM framework that would enable new privacy standards and how the user’s data is shared between social media platforms. Ben Royce, head of development at Society2 said:

“SOCIETY2's framework is very different from existing social networks. An owner of an IOTA node can run a social media site or app as easily as downloading an open-source template from a menu, customize it or not.”

The developer team has promised that the decentralized social media solution would come with privacy and security controls, which are not available on current, more centralised platforms.

In fact, present social media platforms make it extremely difficult for anyone to read or get notified about privacy policy changes and bury this information at the bottom which can’t be easily found by those unfamiliar with technology and the importance of privacy.

Society2 Users can Decide Who Can Access Their Private Data

The decentralized social media platform would not only give total control of user’s data in their hand, but would also give them the power to decide who can access it, and in return, they receive micropayments and rewards in IOTA.

The social media platform would be strictly based on IOTA's framework, utilizing its peer-to-peer micropayments system in case a user is ready to offer their data to advisors.

Rayce also revealed that the decentralized social media solution would only support the IOTA token since they believe that the IOTA framework is best suited for such an initiative, having the scalability and security to assure it of being successful.

Society2 Would Work on Top of IOTA Streams

Society2 would not only use the IOTA currency as the fuel for its network, but its framework would work on top of IOTA's distributed Ledger Technology – called IOTA Streams.

IOTA Streams is a framework for cryptographic applications which would enable social media content encryption and distribution.

The Society2 project was officially launched this week and is expected to deliver an early prototype for DeSM system by Q3 of 2020 for community feedback.

The development team behind the project also believes that the framework for the decentralized social media solution could also be utilized by modern-day social media giants like Twitter. Joseph Skewes, the project’s head of operations said:

“Twitter recently funded the independent team bluesky, which is researching the decentralized social media landscape for a standard that Twitter itself could eventually use. A framework like SOCIETY2 may develop into a suitable candidate for such a platform.”

Skews comments towards the use of their DeSM framework by Twitter could have been inspired by an announcement made by Twitter CEO Jack Dorsey towards the end of 2020, where he revealed that they have funded a developer team to develop decentralized standards for social media.

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James W
James is a cryptocurrency enthusiast, an advocate for the development and exposure of blockchain technology, and believes in the use of digital assets for the good of the society. Enthralled by the huge potential of cryptocurrencies and their underlying technology – blockchain – James dedicated himself to learn more about the industry, becoming a highly sought-after writer in the sector. He covers news, white papers and any content related to cryptocurrency and blockchain in general.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

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