The Transformation of Value on Personal Profiles

Cecilie Bøhn

Student thesis: Master thesis

Abstract

Social media technologies have radically changed the way people interact. Consumers like to network with people who have interests and desires that are similar to their own. Since most of these sites require personal information, it has led to an increased amount of personal data being stored in central databases. This has caused an increasing fear of using these traditional platforms due to hacking, surveillance and profiling of their information.
Blockchain systems are trying to re-incorporate trust by offering a system where the personal information is distributed among all the participants and as a consequence cannot be hacked.
The objective of this research is to explore the individual use of personal profiles, and the different use patterns seen, as the users’ perceptions of value and contribution on these social media sites change.
The methods of data collection is a triangulation of qualitative primary data collected from netnographic study by observing interactions on the Reddit platform and the Steemit platform, and secondary data collected from peer-reviewed papers and other articles.
The analysis will look into the trust and perception each user has on the “safe keeping” of their personal data on both the traditional and centralized databases and blockchain as distributed ledgers. This is done by comparing user behavior on the Steemit (Blockchain) and the Reddit (traditional) platforms and the value received from their contributions on each. Furthermore, the security of personal data on each platform is discussed related to legal issues found in the society, security issues as well as technical issues. The implementation of blockchain based systems have a to consider several elements, as society is not adjusted and prepared for this transformative and disruptive innovation. The legal and security environments evolve slower, and as a result of that the standards and regulations that exists do not apply to blockchain . The platforms as well as the users are increasingly getting used to the development towards web 3.0 environment, where distributed ledgers is the new game.

Educations, (Graduate Programme) Final Thesis
LanguageEnglish
Publication date2018
Number of pages165
SupervisorsMichel Avital