How blockchain is disrupting secure messaging
Blockchain is evolving into a new foundation for the internet. What began as a closed web is transitioning to an open source system powered by decentralized systems. Every sector is now adopting this technology to better serve their customers. Social communication in particular sees a lot of promise from blockchain solutions. Popular messaging apps like Instagram and Meta have joined the Web3 bandwagon, offering blockchain solutions like cryptocurrencies and NFTs.
On the other hand, a wave of new blockchain-based messaging apps with innovative solutions is emerging. Security, privacy, secure micropayments and improved user experience are some of the main offerings of these upcoming projects. Blockchain opens doors to unexplored trillion-dollar opportunities in the communications sector. The permissionless, trustless and open source nature of this technology promises to eliminate legacy issues that have plagued the messaging application.
The current messaging landscape
Most of today’s communication takes place through social media applications. With almost 2 billion users, WhatsApp tops the list, followed by Messenger (Meta) and Wechat, which have 1.3 billion and 1.2 billion users respectively. Internet penetration, easy accessibility and smartphone penetration have contributed significantly to this massive growth. Platforms now offer unified communication channels that combine functions such as micropayments and media transfer.
Despite this rapid development, a few critical issues have been ignored. Privacy and security have been the biggest concerns for users. Most existing messaging applications have poor security measures. WhatsApp, for example, boasts of its end-to-end message encryption technology. But it can be easily bypassed if the user backs up their data to a cloud server.
Another major concern has been users’ privacy. Many social media companies have been accused of collecting user data without their consent and then using it to target ads. The Facebook–Cambridge Analytica data scandal is one of the biggest examples of this. Cambridge Analytica, a British consultancy, collected personal data from millions of Facebook users without their consent in 2010 which was then used for political advertising.
Furthermore, censorship has been a source of concern for users. People who oppose a particular point of view, be it political or anti-corporate, have had their accounts banned. Ultimately, platforms have become more business-focused than user-focused, which is precisely what blockchain aims to solve.
Prioritizing security and privacy with Blockchain
Blockchain technology promises to overcome the majority of the current messaging problems. The first is by providing a secure infrastructure for platforms. Everything on the blockchain is encrypted and the data stored on it cannot be changed. Moreover, it uses complex consensus mechanisms that guarantee hack-proof systems. Users do not have to worry about their account being accessed by a third party.
Another important advantage of the technology is the ability to maintain privacy. Most user interaction on the blockchain occurs through Web3 wallets, which are non-custodial and completely anonymous. Even crypto transactions on the blockchain are anonymous and permissionless. Anyone can transfer any amount to any region of the world without fear of central authority. Moreover, crypto payments eliminate fiat limitations by offering limitless transactions, low fees and blockchain validation.
This is not just theoretical. In fact, new projects are already offering blockchain-based communication services. TokLok is one such blockchain-based messenger that enables individuals and businesses to communicate in a practical and secure way. The non-public messenger allows users to choose who they want to interact with.
The app also provides message encryption, where the content is removed from the system once the user has read it. Furthermore, no information about users or their correspondence is collected or stored by the application. The ecosystem is powered by its native $TOL utility token, which provides lifetime access to the app in addition to other benefits.
Lays the foundation for a safer future
The rise of blockchain has been a boon for a number of businesses, including the messaging industry. The technology promises to overcome all existing problems with social media in an efficient and cost-effective way. Although security and privacy are the main benefits, it also improves the user experience. Platforms such as TokLok, which provide decentralized communication services, are already laying the framework for the future of communication. Blockchain is the new internet revolution that transforms users into owners.
