1.5.2 Blockchain in Social media Election Campaigns

There are several fake accounts on social media platform which posted fake news. Anything can become viral within hours and become a reality. The blockchain can resolve this problem with its cryptographic ledger system. It has the functions such as identity authentication, information verification, and data verification. This system utilizes authentication to validate identities, documents, and messages. Social networking networks are progressing at a rapid rate toward blockchain. Third-party vendors are helping platforms embed this verification technology. Blockchain technology can be used in financial exchanges to protect consumer privacy and also used to preserve private messaging privacy. In certain social media sites this could make people feel more relaxed. Nowadays creators of social media content lose a large amount of money because of the role of social media as a middleman. However, the use of blockchain technology could disrupt this process by taking the middleman out of the equation and enabling content producers to get paid for creating and sharing their content 29 .

Over the past year Blockchain has become increasingly popular. In recent months, Facebook has been very busy digging into and deleting fake accounts which have been spreading false news for many years now. If a user does not have control over his / her own data, data can enter third parties. Every post, like, or share creates a behavioral profile of the user. According to your choice, this profile is the reason you get news and advertising. Hacking personal information and selling it to other parties are the issues that social media sector is facing nowadays. Blockchain distributed ledger system can function in the first place to prevent any of this by verifying identity, verifying reported information and data etc. There are applications with blockchain which allow users to monitor their data. We can choose who sees the details and how much. Skycoin is a great example of how users can control their information. Each application includes access permissions to the data, which keeps user information secure. The technology will help users who share with advertisers charge a fee for their details. One can then pick the right people to access the right data 30 .

Crowdfunding is one of the activities that happens through social media platforms. The money is also raised for charities. The Blockchain helps the crowdfunding as private, transparent, and faster. Blockchain technology makes investors feel secure and works against money laundering too. Social networks allowed by blockchain make it easier for investors to finance crowds. Peers can track contracts, accept payments and verify users without taking any extreme measures 31 .

The growing amount of time spent on social media sites generates new marketing possibilities for research and political campaigns. Political leaders used social media to promote their own campaigns, events, to connect with large audiences, and raise donations. The key disadvantages of social media are lack of anonymity, data security and identity ownership. The coverage voters consume before an election helps form their political opinions. However, due to

29 Source: https://www.comparethecloud.net/articles/the-link-between-blockchain-technology-and-social-media/#:~:text=Blockchain %20technology%20enables%20users%20to%20make%20transactions%20in%20a%20private%20way.,-Only%20the %20sender&text=Blockchain%20technology%20in%20the%20social,exploring%20their%20own%20payment%20platforms. 30 Source: https://www.forbes.com/sites/andrewarnold/2018/05/29/how-social-media-can-benefit-from-blockchaintechnology/#1d478f731018 31 Source: https://www.goodworklabs.com/blockchain-technology-in-social-media/

targeted fake campaigns, voters may find it difficult to identify facts-based sources to accurately inform their vote. The democratic process can be derailed by computer manipulation, digitally doctored images and videos, armed social media and more all. Hackers may even take over an official account of the social media and explicitly disseminate fake information. Social media allows information to be circulated more quickly than facts can be believed to be verified, it is not surprising that falsehoods and pure propaganda have become a major problem.

Blockchain technology with its cryptographic techniques will ensure digital information comes from a trustworthy, accountable source. Essentially, voters can only consume media marked with a specific cryptographic identifier which can show without a doubt that the media originated when cross-referenced with permanent records on a blockchain. Blockchain distributed ledger system can help in verifying identity, verifying reported information and data authenticity, etc. Media would be considered less trustworthy without an identifier. One of the more interesting potential uses of Blockchain may be counterfeiting fake news 32 . High levels of personal data protection and the disruptive ads are the reason the blockchain technology is blowing up over social media. Because of its decentralized existence, social media with blockchain allow for end-to-end encryption for any contact. As a result, by using these networks consumers have more anonymity, and a data breach is nearly impossible 33 .

The last U.S. presidential election saw a spike in targeted misleading advertising on websites such as Facebook and Twitter used to sway the sentiments and opinions of the electorate. The platforms’ attempts to fix this problem have centered around partnerships with independent fact checkers, but the blockchain offers a potential solution that doesn’t require third parties. Ethereum blockchain, offer promising solutions to verifying the authenticity of user generated videos 34 .

Under pressure from public figures and various governments, the giants of social media and search engines have started to take measures to fix the issue. Germany has imposed a 50 million euro fine in the most famous case to penalize social media platforms that keep fake news on their website. Tech leaders like Tim Cook have publicly called on Mark Zuckerberg to help crack down on fake news, as Facebook is primarily a distribution site for fake news stories using by Blockchain and Machine Learning 35 .

For the 2020 election cycle, companies are now planning using technology to deal with fake profiles and news, and legislative changes have begun. Twitter banned all paid political advertising and demonstrated its ability to censor state heads. YouTube modified its algorithm to update credible sources of news and removed thousands of propaganda accounts from China. Facebook introduced a separate ad library, allowing users to opt out of political advertising and

32 Source: https://www.cbinsights.com/research/report/blockchain-election-security/ 33 Source: https://www.comparethecloud.net/articles/the-link-between-blockchain-technology-and-social-media/ 34 Source: https://www.forbes.com/sites/valleyvoices/2018/02/28/how-the-blockchain-can-solve-social-medias-biggestproblems/#61cf23f427cb 35 Source: https://pollen.bcgdv.com/using-blockchain-and-machine-learning-to-fight-fake-news

is currently considering a ban on election ads. Google, which in 2016 saw only around $4,700 in IRA ad spending, banned targeted political advertisements 36 .

36 Source: https://foreignpolicy.com/2020/07/14/united-states-election-interference-illegal-social-media/