ADSactly Tech News: Is Facebook Destined to be Replaced With DAO Blockchain Alternatives?

The stock price of each FANG company increased by more than 30% last year, which provided a shot in the arm the S&P 500 and helped it record a near 20% gain. That said, the Price-to-Earnings (P/E) ratios of the FANG stocks were looking a wee bit frothy as of late this March.

While Amazon.com traded at a P/E of 327, Netflix was on a P/E of 210 at late last month. And, Facebook and Google-parent Alphabet, who have been linked with privacy concerns, were trading at valuations near 52-week lows.

Well there is certainly a case to be made when it comes to large multinational companies getting incredible amounts of investment and therefore being granted huge powers over transforming society!

But if people are paying attention, just the fact that I'm discussing this topic means that there is public scrutiny into what is going on with this here... In fact these mega tech behemoths have created distrust in users when they examine the power they have been able to amass and what they use it for!

Well they have a good reason to be concerned especially with situations like the Cambridge Analytica debacle where the world learned organizations have been able to extract private information from the accounts of around 50 million Facebook users!

So what are people so concerned about then? Well it is a bit scary when you think about corporations and governments vacuming up personal information conducting mass data collection. Where do they get all that data from anyways? Well they get it from the FANGs! We give them the information knowingly but in most cases unknowingly... Remember that little terms of service agreement you clicked a box on? The one that had the really small print that would have taken you hours and legal help to understand? What did you do? You just clicked the box and moved forward right? Yah well that is how they get us...

As a result of recent scandals there are tons of privacy and data ownership advocacies emerging... Many are now speaking out and the message is loud and clear, many believe that centralized and hierarchical corporate structures are not agile enough for today’s business environment. Can organizations adapt? If they can't they will fade away and be replaced by a new paradigm... Change doesn't wait for anyone.

Blockchain and decentralized services now challenge these centralized authorities. And, their endeavors are finding support from an increasingly discerning market. On the more progressive end, decentralized autonomous organizations, or DAOs for short, have also figured in the discussion of organizational structures. For example, initiatives in the shape of Dash, Digix, Slock.it, and The DAO have been met with varying degrees of success. Upcoming efforts like DAOstack, which is described as a “decentralized framework for decentralized organizations” and based in Israel, is seeking to seek to lower the barriers to founding DAOs.

I do believe that DAO is going to be the way forward for organizations and those that adapt more quickly will have a headstart! Guess what, if you are reading this and a member of the ADSactly server, you are part of a DAO already!

So lets look at some data to back this up shall we? Well, a recent study was conducted in which 9 in 10 (87%) of technology professionals answered that they believed blockchain technology will be as transformative for business as the Internet has been!

Beyond that there were a few other things to be learned from the study I've referred to:

1.) Privacy of data is the highest priority amongst people in IT currently;

2.) Two-thirds of respondents responding have trialled or are using blockchain technology

3.) Nearly half of respondents who have not worked with blockchain tech yet will do so in next two years.

If these findings are accurate then we are about so see some huge changes in coming months and years! Privacy is of great concern, people have used blockchain technology and people who haven't will use it in the next two years! Are you kidding me?! You are reading this article on the first blockchain based social media network! You are ahead of the pack my friend!