AT&T, a telecommunications company has filed a patent that will allow them to launch an application that is based on Blockchain technology. The app’s purpose is to create a map of people’s history on social networks. Therefore, the content they create and share, activities they partake in, their career interest, and other online transactions will be stored.
Blockchain Map to Help Business Owners and Advertisers
AT&T made this known recently through its patent titled, Blockchain-Based Social Media History Maps. The new application will help business owners as well as advertisers to know the particular areas people are interested in. This is made possible just by tracing the history of their activities on these social platforms.
Social Media History Maps will be a service rendered to subscribers of the platform. These subscribers will be able to gain access to the stored data. Specifically, the current trends about an information including its location and time will be visible. As a consequence, it takes away the need to create separate accounts on each social network. This would’ve been the case to see what people are looking for or talking about.
Application to Aid in Marketing, E-commerce, and Advertising
The patent has revealed that the advantage of making the behavior of people on social networks traceable will help in marketing, e-commerce, and targeted advertising. This is because if a company knows what a particular region is searching for the most and at what time of the year, their adverts will bring more sales.
Blockchain technology has been employed to achieve these objectives. Its stored data cannot be changed easily and timestamps are added to the data. As such, companies can rely on it to be accurate at any time. Although the application has brought concerns to user privacy, the patent has revealed that a user will maintain sole ownership of their transaction data. But what may be visible to the public, could include their followers.
Users May Maintain Sole Ownership of Their Data
Whichever is the case, assumptions can be made that before a user releases their data to a company or organization, they may be compensated financially. This is because the patent has added that private keys will be needed to access the part or all the data. That being so, it may not be entirely useful to companies unless they find a way to make people share their information at their own will.