Compromising personal data on social media platforms is nothing new under the sun.
Global giants, such as Facebook, are known for their privacy issues. While global Internet users continue to rely on classic social media such as Facebook and YouTube, industry players continue to build privacy-oriented alternatives based on blockchain networks such as IOTA .
Society2 is a new decentralized social media, or DeSM, project that aims to allow users to regain control of their data and enable IOTA site owners (nodes) to manage their own social media sites or applications.
Officially announcing the initiative on May 5, Society2 pointed out that so far there has been no major adoption of decentralized social media. As such, the Society2 team began working on an IOTA-based DeSM framework to enable a new standard in the confidentiality, control and interoperability of data shared between social media platforms.
Ben Royce, head of development at Society2, said:
“SOCIETY2’s framework is very different from existing social networks. An IOTA node owner can launch a website or social media app as easily as downloading an open source template. “
Society2 users will be able to trade their privacy in exchange for IOTA
Society2 promises to enable the privacy and control of social media, which is currently not available to users. As part of the effort, Society2 plans to allow users to explicitly choose the level of privacy they want, using micropayments in the IOTA cryptocurrency (MIOTA) as a need.
Royce clarified that Society2 will be based exclusively on the IOTA framework. For example, using IOTA’s partner micropayments, the platform will reward users for seeing ads on Society2.
“IOTA is the only currency that will be supported by the Society2 framework. IOTA is at the heart of Society2’s technology because it best suits our uses. In addition to its ability to scale and its ability to securely transfer messages, IOTA enables free P2P micropayments. “
Society2 hopes to provide a decentralized social media library working for Twitter
Along with the application of the IOTA cryptocurrency as the base currency that powers its system, Society2 will build its platform based on IOTA’s distributed technology. The project will be based on IOTA Streams – a library for cryptographic applications developed by the IOTA Foundation. In particular, IOTA Streams will enable the encryption and distribution of content on social media. In addition, Society2 will implement IOTA’s “Decentralized Identity” technology.
After officially launching the project and launching its website this week, Society2 expects to provide an early prototype of its DeSM community feedback system by Q3, 2020, said project manager Joseph Skiues. The Society2 team, which has been in the IOTA community for years, expects their library to be used by media giants such as Twitter. Skiues said:
“Twitter recently funded an independent team that explored the decentralized social media landscape as a standard that Twitter itself could eventually use. A framework like Society2 could become a suitable candidate for such a platform.”
Twitter CEO Jack Dorsey has revealed that the company is funding a dedicated team to develop a decentralized social media standard in late 2019.
Society2 is not the only company working on blockchain-based alternatives to traditional social media. In October 2019, David Gellenter, a professor of computer science at Yale, and Rob Rosenthal, a 19-year veteran of Goldman Sachs, unveiled plans to launch a new project based on Facebook’s blockchain competitor in 2020.