Tuesday, January 19, 2021

Stage set for disruption of brand owned social media platforms: Sumant Parimal

New Delhi, Jan 14: Chief Analyst of ‘5 Jewels Research’ , Sumant Parimal, a Globally recognized Tech. Analyst, has said that stage has been set for disruption of Big Tech. Brand owned Social Media Platforms by the innovative democratically distributed Blockchain Tech. based Apps.

Commenting on latest actions of brand owned social media platforms like Whatsapp, Facebook, YouTube, Twitter in censoring US President Trump and his followers and subsequent data sharing policy update of Whatsapp, Sumant Parimal has said “These recent decisions of brand owned social media platforms like censoring US President Trump by Twitter & Facebook and unilaterally circulating new data privacy terms and conditions by the Whatsapp to its users, clearly indicates that these social media platforms have gathered substantial powers in terms of unilaterally altering the power balance in the favor of the brand. This shifts social media power towards the brands which owns it from the consumers/users who have subscribed it and actually contributed in growth of these social media platforms”. 

“These series of actions have actually set a stage for disruption of brand owned social media platform by the distributed Blockchain Apps. which works democratically and keeps power of social media in the hands of its users / participants. Blockchain Tech. enables direct peer to peer communications and doesn’t requires any intermediatory / platform consolidator like Facebook, Twitter, Instagram, and participants / users can have their own set of rules for communications. With recent Whatsapp data privacy policy change event, millions of Whatsapp users are looking for alternatives for secure communication. This is the correct time to launch Blockchain based innovative solutions where users / consumers are in control of their data and content and evolves their own preferences while communicating with the other users,” Sumant added further.

“What is required in Blockchain domain is to set up standards and transaction protocols for wider innovation rather controlling what to be shared or not to be shared with the parties / users concerned, that should be the jurisdiction of the parties concerned. So social media industry is set to evolve from two-three large Tech. brands monopolistically controlled platforms to distributed and democratically controlled DApps. based social communication meshes where participants/users shall be in true control of their own data and information.”  Sumant Parimal added further.

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