How Blockchain is Disrupting Secure Messaging
August 15 2022 - 9:19AM
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Blockchain is evolving into a new foundation for the internet. What
began as a closed web is transitioning into an open source system
driven by decentralized systems. Every sector is now adopting this
technology to better serve its customers. Social communication, in
particular, is seeing a lot of promise from blockchain solutions.
Popular messaging apps like Instagram and Meta have joined the Web3
bandwagon, offering blockchain solutions like cryptocurrencies, and
NFTs. On the other hand, a wave of new blockchain-based messaging
apps are emerging with innovative solutions. Security, privacy,
secured micro-payments, and enhanced user experience are some of
the key offerings of these upcoming projects. Blockchain is opening
doors to unexplored trillion-dollar opportunities in the
communication sector. This technology’s permissionless, trustless,
and open-source nature promises to eliminate legacy problems that
have plagued the messaging application. The Current Messaging
Landscape The majority of today’s communication happens through
social media applications. With almost 2 billion users, WhatsApp
tops the list, followed by Messenger (Meta) and Wechat, which have
1.3 billion and 1.2 billion users, respectively. Internet
penetration, easy accessibility, and smartphone penetration have
significantly contributed to this massive growth. Platforms now
provide unified channels of communication combining features like
micropayments and media transfer. Despite these rapid developments,
a few critical issues have been ignored. Privacy and security have
been the major concerns for users. The majority of existing
messaging applications have poor security measures. WhatsApp, for
example, brags about its end-to-end messaging encryption
technology. But, it can be easily bypassed if the user backs up
their data to a cloud server. Another major concern has been user
privacy. Many social media companies have been accused of gathering
user data without their consent and then utilizing it to target
advertisements. Facebook–Cambridge Analytica data scandal is one of
the greatest examples of this. Cambridge Analytica, a British
consulting business, gathered personal data from millions of
Facebook users without their consent in 2010 that was then used for
political advertising. Furthermore, censorship has been a source of
concern for users. People who oppose a certain viewpoint, whether
political or anti-company, have had their accounts banned.
Ultimately, platforms have become more business-focused than
user-focused, which is precisely what blockchain intends to solve.
Prioritizing Security and Privacy with Blockchain Blockchain
technology promises to overcome the majority of the current
messaging problems. The first is by providing a secure
infrastructure for platforms. Everything on the blockchain is
encrypted and the data stored on it cannot be altered. Moreover, it
employs complex consensus mechanisms that guarantee hack-proof
systems. Users need not worry about their account getting accessed
by any third party. Another key benefit of the technology is the
ability to maintain privacy. The majority of user interaction on
the blockchain occurs through Web3 wallets, which are non-custodial
and totally anonymous. Even crypto transactions on the blockchain
are anonymous and permissionless. Anyone can transmit any amount of
funds to any region of the world without fear of central authority.
Moreover, crypto payments eliminate fiat limitations by providing
borderless transactions, low fees, and blockchain validation. This
is not merely theoretical. In fact, new projects are already
providing blockchain-based communication services. TokLok is one
such blockchain-based messenger that enables individuals and
businesses to communicate in a convenient and secure manner. Its
non-public messenger lets users choose who they want to interact
with. The app also provides message encryption, with the content
being removed from the system once the user has read it.
Furthermore, no information about users or their correspondence is
collected or stored by the application. The ecosystem is powered by
its native $TOL utility token, which gives lifelong access to the
app as well as other benefits. Laying the Groundwork for a Safer
Future The emergence of blockchain has been a boon to numerous
businesses, including the messaging industry. The technology
promises to overcome all of the existing issues with social media
in an efficient and cost-effective manner. While security and
privacy are the primary advantages, it also improves user
experience. Platforms like TokLok, which provide decentralized
communication services, are already laying the framework for the
future of communication. Blockchain is the new internet revolution
transforming users into owners.
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