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The current state of social media is dreadful and constantly worsening. Originally designed to facilitate communication, these applications have become a nightmare for most people. Privacy violations, censorship, data theft, and poor security standards have turned users against these platforms.
One reason behind the current situation is that modern-day communication networks have evolved into profit-driven enterprises. They have lost their purpose and have turned predatory. User data is the new oil for them and is being traded behind closed doors for billions of dollars.
On the brighter side, though, promising alternatives are now emerging, thanks to innovations in blockchain technology. Futuristic, blockchain-based, decentralized messaging applications can alleviate most of the social media’s current problems. Their permissionless, trustless, and open-source nature can make messaging pleasant, private, and secure. And thus, a new paradigm in online communications awaits users.
The Pitfalls of Legacy Social Media
Social media revolutionized the internet by enabling simple, interactive, real-time communications. However, legacy social media platforms have increasingly become data predators in recent years, exploiting users in various ways. The foremost issue concerns users’ privacy. For instance, Meta (formerly Facebook) has often been in the news for compromising user data.
Inadequate security is another significant problem since most existing messaging platforms lag behind in this regard. For example, WhatsApp’s end-to-end encryption mechanism breaks when users backup data to the cloud. Moreover, hacks are pretty common with these apps. It happened with WhatsApp in 2019, when it discovered a bug that allowed hackers to plant spyware using the app’s call function. In another similar incident, a hacker breached Telegram to expose the phone numbers of about 15 million Iranian users.
Besides being vulnerable to security and privacy breaches, current messaging and social media platforms fall short in terms of integrated payments. Some support fiat-based transactions but with severe limitations: high transaction costs, restrictions on cross-border payments, and so on.
Transforming Messaging and Communication with Blockchain
Fixing the current social media problems is not as simple as it sounds. Several governments and authorities have previously attempted to provide solutions. However, they haven’t been successful in resolving the issues.
Blockchain technology, on the other hand, has an answer. By combining decentralization, cryptographic security, and top-notch data privacy, overcoming the pitfalls of legacy social media is possible indeed. Moreover, using blockchain broadens the scope for integrating crypto-based payments. Thus, new-age messaging apps can offer transparent and censorship-resistant communications with secure, seamless in-chat payments.
TokLok is a private messaging platform that offers businesses and individuals a secure and convenient way of communicating online. The platform leverages blockchain technology to enable fully-confidential correspondence and transactions. So much so that the algorithm erases encrypted messages—visible only to the sender and recipient—once they are viewed.
The TokLok ecosystem is powered by the $TOL token, the platform’s native cryptocurrency. $TOL plays a key role in the ecosystem, providing access to the messenger and financing the ecosystem. It is also usable for globally accessible in-chat payments on TokLok.
The Future of Social Media, Private and Secure
Legacy social messaging applications have done users enough harm. But people have now become aware of the exploitation, thus looking proactively for alternatives. This is where emergent decentralized messaging apps, with an irresistible value proposition, have entered the scene.
Blockchain-based messaging and microtransactions are increasingly becoming the norm, particularly for tech-savvy users. These apps are way more secure than traditional ones, prioritizing privacy. Moreover, they natively support borderless and cost-effective payments using cryptocurrencies.
As a pioneer in this new league of messaging platforms, TokLok has embarked on a journey to shape the future of communications. Its diverse features, especially concerning security and privacy, can be a gamechanger for Web3. Most importantly, its user-friendly and intuitive experience can boost adoption in this domain. And through these, users can finally lock their talk and communicate peacefully.