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Blockstack’s Muneeb Ali says user data in popular social media platform gets monetized negatively

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Blockstack's Muneeb Ali says user data in popular social media platform gets monetized negatively
Source: Pixabay

Muneeb Ali, the Co-Founder of Blockstack, in a recent conversation with Anthony Pompliano, boasted the firm to be a new internet for decentralized apps. He went on to say that the Blockstack project raised venture capital [VC].

According to the founder, the firm is essentially trying to create a technology that would ultimately replace cloud or decentralized computing. It will require a lot of R&D work, Ali said. He outlined that initially, it is important to get accustomed to the all-new developed technology, which has a solid foundation that the firms are developing. Following which, he revealed that they will slowly start building a decentralized open-sourced ecosystem.

He didn’t spare the social networking sites while talking about the relationship between the big companies and its user base. He said that there is an evident battle between large companies like Twitter or medium and its users. He added that the relationship is not a healthy one. According to him, these companies rip off users of their own content. He said that the user data is getting monetized in negative ways.

“The users help the company but there is no financial upside for the users.”

Ali and his team have been working to conduct a regulated token offering under the Reg A+ Exemption and have reportedly filed their application recently. The New York-based company also announced its plans to raise an extra $50 million via a token sale. Around 295 million STX tokens will be offered at a value starting from $0.30 each. The firm intends to infuse the fresh rounds of funds to broaden its newly developed decentralized forum.





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Chayanika holds a Journalism degree and is currently working with AMBCrypto. She is inquisitive about everything that the Blockchain Technology has to offer.

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Cardano’s focus is on staying loyal to ecosystem’s scalability & interoperability, says Charles Hoskinson

Arijit Sarkar

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Charles Hoskinson shares Cardano's vision to enable scalable and interoperable crypto ecosystem
Source: United States Air Force

As numerous developments continue to change the face of the cryptocurrency space, IOHK’s CEO Charles Hoskinson shared Cardano’s latest innovations in its ecosystem through another one of his AMA sessions. While the entrepreneur expanded on the expected launch of its Haskell and RUST testnets, the AMA was also focused on sharing his aggressive plan to enable Cardano’s smart contracting.

Hoskinson attributed the vision’s ultimate success to three main factors, which include ability to train new developers, the model itself and Cardano’s ability to interface with the broader functional programming community. He supported this idea by saying,

“This is a huge untapped community full of credentialed and qualified programmers. By interfacing our foundation with that community, we should be able to see a lot of really interesting DApps produced for Cardano rather quickly.”

Comparing Cardano’s credibility to the infamous JAVA platform, Hoskinson claims to have made 20 reiterations of the project “because programming language theorists are perfectionists and they really want to get this done right.”

While the Cardano team continues to work towards the deployment of Shelley and Marlowe on the testnet, Hoskinson also hinted at some incremental upgrades that will be expanded upon in the next AMA, as well as on the company’s official website. Out of the many iterations, Cardano’s primary focus will be to stay loyal to the ecosystem’s scalability and interoperability across other crypto-based ecosystems.

Hoskinson also mentioned that his past contributions to Ethereum helped his team explore the design space of the code, which ultimately helped them develop a seamless ecosystem focused on user experience and ease of use. He added,

“People want to keep regulators happy. That said, we will also begin exploring some privacy ideas and how we can also increase privacy on these transactions.”

In addition to backend development, it is also important to note that Cardano’s [ADA] crypto-adoption has allowed it to dethrone Tron [TRX] from the 11th position, with respect to market cap.





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