Since its inception, blockchain only now begins to command the attention of the world, corporations, and governments alike.
Before long, it will be an every-day topic.
Some blockchain systems offer the ability to run applications and establish smart contracts. Therefore, we’ve already seen corporations like IBM and Walmart take full advantage.
Nowadays, it’s even creeping into social media
Social media giants are no strangers to controversy and lack of transparency. However, that may not be the case for much longer, thanks to blockchain technology. Not only can it help improve transparency and trust, it can also assist with cybersecurity issues.
Cybersecurity and Blockchain Technology
However, according The Next Web, “Decentralizing databases can safeguard against mass data breaches as there is no more a single point of failure that a hacker can target.”
According to Forbes, “Typically, once data is stored on the blockchain it cannot be manipulated or changed – it is immutable. This is because of the architectural nature of blockchain structures where every block has a specific summary of the previous block in the form of a secure hash value.”
Blockchain can Assist with Spam Issues
Furtermore, a multitude of spammers consistently plague Twitter.
Elon Musk’s account, for example fell victim.
The co-founder of Tesla fell victim to growing hacking attacks on Twitter for the second time. In February 2018, his account tweeted, “I have decided to give out 4000 ETH to my fans. Just send anywhere between 0.3 to 0.7 ETH to the address below and receive 3 to 7 ETH back to your address. But hurry as it is limited to the first 200 participants only.”
Then, in August 2018, “Musk” promised his follows free Bitcoin and ETH.
Of course, he’s not the only celebrity to face this issue.
Fortunately, blockchain may be able to help
Blockchain’s distributed ledger system can potentially protect social media users against spammers.
This is due to the technology that can verify identities, information, data, and news. Furthermore, its distributed enforcement and trusted methodology can help to weed out bad players from the platform.
In short, a lack of transparency and trust in social media may soon be a thing of the past.
Want the latest crypto news? Join our Telegram Channel