Facebook's Data Privacy Fallout Could Help Blockchain

Blockchain will allow users to see which data is being shared and with whom.

Facebook Blockchain

Facebook's privacy fallout could benefit blockchain technology.

Blockchain would allow users to keep tabs on their data and how it's being shared. The technology has the potential to solve transparency issues on social media, but it wouldn't allow users to prevent the misuse of sharing data.

The New York Times reported that Cambridge Analytica gained personal data of more than 50 million Facebook users. Facebook did not alert its users even though it had been aware of the misuse since 2015.

After the report went live, Facebook founder and CEO Mark Zuckerberg wrote a post saying that the social media platform has a responsibility to protect its users' data. Facebook's sock lowered considerably this week.

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