The enormous reap of personal information. Rebellion against a $ 89bn industry.

How do Facebook, Instagram, Google, et al. capitalize on user data?

Currently these large digital enterprises like Facebook with Instagram and WhatsApp, also Google and Amazon reap enormous profits from two business models. On one side they market their large volume of user data to a $ 89bn advertiser industry. The more recently applied business model is for those giants to invite their user base to applications previously offered by other digital services. Google who owns the search business is entering into travel related offerings or price comparisons and shopping portals. This is a clear violation of cartel laws by a dominant market player. Facebook when acquiring Instagram and WhatsApp should also have undergone more competitive regulatory security. (Was there judgement on Hart-Scott-Rodino Act requirements?)

We see authorities in Europe and elsewhere to increase pressure on the larger corporations, allowing room for more user driven social networks like BLABBER to offer location based functions with the consent of its users.

How does BLABBER position itself in this larger digital market?

BLABBER is the first social platform that rewards its users for activities in its app, active ones (social mining — posts, comments, likes) to passive ones (use of their data for advertising or shopping transactions). The user can decide to what extend personal data becomes public information. A cryptocurrency wallet allows the automatic transfer of rewards using trusted blockchain technology. BLABBER is convinced that wherever users are residing or traveling to, their main interest is always location based. A key principle for BLABBER.

Why is Blockchain essential for BLABBER?

Blockchain and its modern (more efficient) ways to generate trusted transactions in smart contracts is the backbone technology to automate the underlying processes of rewarding users for posts, comments, and likes. Also blockchain technology is required to automate BLABBER’s marketplace function where funds need to be transferred in a pre-set (smart contracts) fashion. Blockchain is a technology with a great future. According to NYT reports, Facebook seems to evaluate blockchain technology with a staff of 50+ people. Let’s wait and see which applications Facebook will base on blockchain.