Blockchain adoption has been steady over the last few years, but it still has a lot of distance to cover. Governments all over the world are trying to take the lead in this field. Earlier, the Chinese President Xi Jinping endorsed the distributed ledger technology. The CEO of Block.One is also positive about blockchain’s future.
Facebook privacy concerns can be solved with blockchain
Facebook has been in hot waters since the social media giant announced to launch its cryptocurrency Libra. The regulators all over the world were not impressed by the track record of Facebook in dealing with its customers’ data and privacy. In an conversation with CNBC’s Brian Sullivan, Brendan Blumer said that we live in a world where right now, we can see what Facebook shows us. Facebook takes our data and uses it to serve us ads, he added.
Blumer makes a point that people only have a clue what’s going on below the surface, but it’s not transparent.
Block.One CEO is positive about the future.
The Block.one CEO is positive that decentralized ledger technology can help fix the privacy concerns that currently are a big issue in the tech industry. He believes over time, blockchain is going to change things through a customer-led demand. He added that people now want to know what’s below the surface and what companies are doing with their data.