In an interesting development regarding social media powerhouses Twitter and Threads, run by none other than Elon Musk and Mark Zuckerberg respectively, it appears that the torchbearers of this battle are the end-users. With Threads amassing an unbelievable 100 million users within its first five days of launching, it became remarkably clear that the public was intrigued. Nevertheless, in the sudden wave to transition, a plethora of underlying issues were overlooked.
In the perpetual race where social media tycoons remain victorious, it’s the typical user that inevitably succumbs to defeat. An astounding number of newly-transitioned Threads participants have incurred enormous costs, estimated to be in billions, to aid this shift. Regardless of these financial burdens, users continue to abandon one platform for another without hesitation. Herein lies a pressing concern – will Threads eventually replicate the same practices that led users away from Twitter; forcing users to either accept their regulations or migrate again?
Simultaneously, entities that operate blockchain-based social media and decentralised identities missed a golden chance to collaborate. An attempt to redefine how social media approaches data and profile ownership and verification could have been initiated. We are, however, far too behind on offering the tools and knowledge to shelter the exodus of Twitter users.
A significant aspect where users are losing out is data portability and management. With Decentralized ID, a type of digital profile, the user maintains control over their profiles and corresponding data. Imagine being able to transfer your data from one platform to another as effortlessly as inserting a USB into a new laptop. Sadly, this isn’t feasible as it’s against the business model of social media giants which thrive on data sales.
The vulnerability of the Web3 community became evident during the mass transition from Twitter to Threads. Due to the absence of prior user verification, it led to numerous scam attempts and ensuing liabilities. Had Threads employed self-sovereign identity, these issues could have been easily mitigated.
The ubiquitous yet mysterious power exercised by central authority comprises another reason users feel short-changed. Decentralized social media could offer a remedy to this, with decision-making power shifting from a few hands to autonomous communities.
The real challenge is not only building the innovative technology needed but also informing the public about these available alternatives. By enabling users to comprehend the worth of their data, they can monetize it, thus making platform-switching a worthwhile endeavor. Eventually, the network effects will ensure that the real winners of the social media wars are the end-users.
Source: Cointelegraph
