Your Next Social Network Could Pay You For Posting
Jelena Dzakula , 1 Feb 17
       

Shutter

 

You may well have found this article through Facebook. An algorithm programmed by one of the world’s biggest companies now partially controls what news reaches 1.8 billion people. And this algorithm has come under attack for censorship, political bias and for creating bubbles that prevent people from encountering ideas they don’t already agree with.

Now a new kind of social network is emerging that has no centralised control like Facebook does. It’s based on blockchain, the technology behind Bitcoin and other cryptocurrencies, and promises a more democratic and secure way to share content. But a closer look at how these networks operate suggests they could be far less empowering than they first appear.

Blockchain has received an enormous amount of hype thanks to its use in online-only cryptocurrencies. It is essentially a ledger or a database where information is stored in “blocks” that are linked historically to form a chain, saved on every computer that uses it. What is revolutionary about it is that this ledger is built using cryptography by a network of users rather than a central authority such as a bank or government.

Every computer in the network has access to all the blocks and the information they contain, making the blockchain system more transparent, accurate and also robust since it does not have a single point of failure. The absence of a central authority controlling blockchain means it can be used to create more democratic organisations owned and controlled by their users. Very importantly, it also enables the use of smart contracts for payments. These are codes that automatically implement and execute the terms of a legal contract.

Sign in to view full article

       
610 Office, ‘China’s Gestapo’, Is Criticized by Party Investigators
Working with the Chinese police, agents of the “610 Office” would break into the homes of Falun Gong practitioners, ransack ...
Larry Ong
Mon, 2 Jan 17
How To Build a More Organic Internet (And Stand Up to Corporations)
Internet access has become such a necessary tool for participating in society that it has been declared a “human right” ...
Panayotis Antoniadis
Fri, 3 Feb 17
Why are We More Likely to Get Cancer as We Age?
This article is part of our series on older people’s health. It looks at the changes and processes that occur ...
Stuart Pitson
Wed, 1 Feb 17
The Science of Gossip: Four Ways to Make it Less Toxic
Gossip gets a bad rap. There’s no doubt that the act of gossiping about someone can sometimes be damaging and ...
Jenny Cole
Sat, 1 Apr 17
‘It’s All About Me, Me, Me!’ Why Children Are Spending Less Time Doing Household Chores
In August, Treasurer Scott Morrison warned that “Australia has a generation growing up expecting government handouts”.
Shi Li
Thu, 12 Jan 17
At Epoch Times, We Care :o)
An Epoch Times Survey
An Epoch Times Survey
Read about Forced Organ Harvesting
Sports Elements
Sports Elements