- This will be the world’s first decentralized cloud storage
- It will help protect the private data of users of social media networks
- Sia hopes to help protect users from data scandals like the Cambridge Analytica Facebook data scandal
Sia Tech is building a Decentralized Cloud Storage where social media users can securely store their data. The cloud storage will become eventually grant social network users’ privacy and control of their personal data.
Building the future
The announcement via an official Tweet this week, states that the Decentralized Cloud Storage will become the go-to solution of future decentralized social networks, where all private image and video data will be stored securely and served from the Sia Network.
The announcement comes when The New York Times publication just revealed the results of their investigation on Facebook internal records showing that the social media giant gave out more intrusive personal data of users to companies like Amazon, Netflix and others than they disclosed.
By giving intrusive access to the personal data of social media users to the world’s leading technology companies, the company exempted clients from their privacy rules. According to the report seen by the New York Times the real picture on how social networks have become a cash cow for sharing personal data, which has become a prized-commodity during the digital age, and is traded on a titanic scale by the most powerful companies.
User trust falling
Social media giant Facebook has struggled with a serious of privacy scandals that have followed the March 2018 Cambridge Analytica expose that revealed how the company used Facebook data to create tools that played a big role during President Donald Trump’s 2016 campaign. Facebook founder and CEO Mark Zuckerberg publicly acknowledged the company had abused user’s trust but insisted they had already employed stricter control measures and had total control over everything.
However, contrary to the public pronouncements, details seen by the New York Times and interviews with former employees paint a different picture, raising doubts on the social media giant’s sincerity in keeping the 2011 content agreement with the Federal Trade Commission on sharing private data without users’ permission.
Sia Technology promises to create a peer-to-peer network using blockchain technology to create the world’s pioneer decentralized storage platform. Unlike the traditional cloud storage that doesn’t use encryption; the users will use Siacoin, an unique cryptocurrency built on Sia blockchain on the network where files will be enforced automatically without third parties.