NetworkNewsWire
Editorial Coverage: A recent Pew Research
article pinpointed major concerns with social media platforms.
“Americans have complicated feelings about their relationship with
big technology companies,” the article observes. “While they have
appreciated the impact of technology over recent decades
and rely on these companies’ products to
communicate, shop and get news, many have
also grown critical of the industry.” The article goes on
to report that a Pew Research Center survey found that “roughly
three-quarters of U.S. adults say it is very (37%) or somewhat
(36%) likely that social media sites intentionally censor political
viewpoints that they find objectionable. Just 25% believe this is
not likely the case.” The events of the last few weeks have made
that article appear almost prophetic as issues of censorship and
privacy have gained additional prominence on the world stage. A
number of private and public companies are working to resolve these
issues, with many of those companies relying on blockchain to
provide their services. Leading the pack is BIGtoken, the
first consumer-managed data marketplace where people can own and
earn from their data. The opportunity ahead has such potential that
parent company SRAX Inc.
(NASDAQ: SRAX) is spinning out BIGtoken into a
separate publicly traded company and has entered into a definitive share
exchange agreement with Force
Protection Video Equipment Corp. (OTC: FPVD). The
separation of BIGtoken provides shareholders a pure play in the
consumer-managed data sector. SRAX benefits from the potential
upside of the BIGtoken platform while reducing operating costs.
Social media behemoths such as Facebook
Inc. (NASDAQ: FB) and Twitter
Inc. (NYSE: TWTR) are under
pressure to identify and remove hate-filled communication along
with taking added measures to protect consumer data. Blockchain
companies such as Riot
Blockchain Inc. (NASDAQ: RIOT)
could benefit from increased implementation of blockchain
technology to protect consumers, safeguard information and ensure
data privacy. Everyone’s at risk as revealed by the recent Solarwinds
hack, which compromised not just local, state and federal
agencies but also major tech companies as well.
- Consumers starting to more deeply question growing censorship
issues, lack of data control.
- Using blockchain, BIGtoken is first consumer-managed data
marketplace where users can own, earn from their data.
- BIGtoken CEO writes that Privacy is fundamental human right
whose time has come, and BIGtoken is pioneering the way
forward.
Growing Concerns Surrounding Censorship,
Privacy
Large social media sites now wield enormous power as they have
become the dominant platforms of opinion and information. As they
grew, they have used their codes of conduct to restrict certain
opinions which is causing consumers to be acutely aware of the
value of their personal data and driving them to alternative
networks.
The issue of censorship on social media sites has never been
more compelling — or divisive. A Jan. 14, 2021, Harvard Business
Review article reported that “after years of controversy over
President Trump’s use of social media to share misleading content
and inflame his millions of followers, social media giants Facebook
and Twitter finally took a clear stand last week, banning Trump
from their platforms — Facebook indefinitely, and Twitter
permanently.
“Could this indicate a turning point in how social media
companies handle potentially harmful content shared on their
platforms? And could it herald a new era of social media reforms,
through both government policies and self-regulation? For many,
Facebook and Twitter’s bans were long-awaited. But it’s not so
cut and dry, as many others have decried these decisions
as infringements on free speech.”
An “Observer Research
Foundation” article stated that social media “is facing
increasing pressure from both politicians and activists throughout
the world as fake news and propaganda have found a fertile ground
on these new platforms.” The article notes that “tech giants are
trapped in a tricky dilemma — how to save freedoms on the Internet
and limitedly restrict them at the same time, and how not to
overreact. . . . Tagging controversial posts with warnings and
blocking radical points of views — seem to be reasonable in today’s
world.”
Censorship is a matter of perspective depending which side
you’re on, but it isn’t the only issue rising to the fore. A recent
Forbes
article noted that “data privacy has become one of the defining
social and cultural issues of our era.” The article, which noted
that “people are starting to more deeply question their growing
lack of data privacy and control,” shines a glaring spotlight on
today’s growing challenge of data privacy. The article reports that
“roughly six-in-ten U.S. adults say they do not think it is
possible to go through daily life without having data
collected about them by companies or the
government.”
Providing Consumers with Choice
In the face of mounting concern about censorship and privacy,
BIGtoken has tackled these problems early and head on. Through a
transparent platform and consumer-reward system, BIG provides
consumers with choice, transparency and compensation for their
data. The system also provides advertisers and media companies
access to transparent, verified consumer data to better reach and
serve audiences.
Available for download on the App Store and Google Play, the
BIGtoken app enables its rapidly growing 16-million-plus members to
choose what data they want to share, as well as which companies can
buy that data and how that data is used. Users provide data by
answering questions, taking surveys and connecting various online
accounts. BIGtoken then anonymizes the data, sells it to brand
advertisers and shares the revenue with its users.
What’s more, when BIGtoken users choose to share their data
anonymously, they receive rewards in the form of cash or gift
cards; they can even deposit their earnings directly into PayPal
accounts or be paid through gift cards from favorite retailers such
as Walmart. And users with philanthropic desires can donate their
rewards to several high-profile, nonprofit associations.
BIGtoken users aren’t the only beneficiaries. Advertisers and
marketers that purchase access to anonymized segments of
information from BIGtoken know that the data they receive is
consumer verified and in compliance with the growing number of
consumer privacy acts enacted not only in the United States but
around the world. BIG’s exclusive technology provides vetted data
for brands in the CPG, investor relations, luxury and lifestyle
verticals.
A New Era
Gig data and business analytics solutions is a booming business,
one that is projected to
reach $260 billion globally by next year. Those numbers make
the space extremely attractive to companies with the technology,
background and expertise to succeed. Launched in 2018, BIGtoken
appears to be one of those companies.
Most recently, the company has added to its executive leadership
strength with the appointment of crypto pioneer and digital media
veteran Lou Kerner as
CEO. Upon completion of the definitive agreement with Force
Protection Video Equipment Corp, FPVD will be renamed BIGtoken Inc.
with Kerner as CEO.
“I’ve been deeply interested in privacy since 2003 when I was
running Bolt,” said Kerner. “And my interest in crypto has also
been fueled, in part, by its privacy features. As the world
continues to move to ensure greater internet privacy for consumers,
BIGtoken is well-positioned to help brands, media companies,
research organizations and political campaigns efficiently reach
consumers via compliant ad targeting and surveys. I further believe
BIGtoken will greatly benefit by fully embracing crypto as an
alternative reward for our growing consumer base.”
The cause of data privacy is supported by BIGtoken. “Privacy is
a fundamental human right whose time has come, and BIGtoken is
helping lead the way, says Kerner in an article titled “The 5 Reasons
I’m Joining BIGtoken as CEO.” Kerner points out that data
privacy isn’t new, but the attitude shift by individuals,
corporations and regulators/government is. “A new era of data
privacy is, finally, upon us,” states Kerner, whose expertise in
cryptocurrency and blockchain brings an added level of expertise
and insight to the company.
A Delicate Balance
Companies on the front lines are trying to balance free speech
and public safety while addressing issues of censorship and data
privacy as solutions may be found in blockchain utilization.
Facebook
Inc. (NASDAQ: FB) has developed a set of community
standards that outline what is and is not allowed on Facebook.
“We recognize how important it is for Facebook to be a place where
people feel empowered to communicate, and we take seriously our
role in keeping abuse off our service,” the company states. “Our
policies are based on feedback from our community and the advice of
experts in fields such as technology, public safety and human
rights. To ensure that everyone’s voice is valued, we take great
care to craft policies that are inclusive of different views and
beliefs, in particular those of people and communities that might
otherwise be overlooked or marginalized.”
Twitter
Inc.’s (NYSE: TWTR) purpose
is “to serve the public
conversation.” The company’s guidelines note that “violence,
harassment and other similar types of behavior discourage people
from expressing themselves, and ultimately diminish the value of
global public conversation. Our rules are to ensure all people can
participate in the public conversation freely and safely.” In
addition, Twitter believes that a user should “always know what data we collect from you and how we
use it, and that you should have meaningful control over both.”
One of the largest U.S.-based, publicly traded Bitcoin miners in
North America, Riot
Blockchain Inc. (NASDAQ: RIOT)
is focused on gaining exposure to
the blockchain ecosystem through its cryptocurrency mining
operations, internally developed businesses and joint ventures. The
company’s primary focus is on Bitcoin and general blockchain
technology, the same blockchain technology being used by many
companies to ensure data privacy and protection.
For more information about Force Protection Video Equipment Corp
(OTC: FPVD), please visit Force Protection
Video Equipment Corp.
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