Tag: social media

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No Accountability = No Currency

The fact that cryptocurrencies are the vehicles of choice for predators, white supremacists and terrorists (article below) has now garnered jail time for the CEO of Binance, the largest exchange in the world. Cryptocurrency is as perniciously persistent as “social media”: with so many people invested, governments are hesitant to intervene, especially while it generates tax revenue. Cryptocurrency is the oxycontin of the financial world, but there will not be one manufacturer to hold to account once the carnage accumulates.

A new front has emerged in Israel’s fight against the funding of Iran-backed militant groups from Hamas to Hezbollah: A fast-growing crypto network called Tron.

Source: Focus: New crypto front emerges in Israel’s militant financing fight

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Applying a Band-Aid to a Mortal Wound

Source: WhatsApp imposes even stricter limits on message forwarding

The speed with which social media have been hijacked by malicious forces to achieve ghastly ends is disconcerting. WhatsApp alone has been used to instigate lynchings in India and possibly a genocide in Burma. It is a sign of Facebook’s profound cowardice that it is acting only when a pandemic that affects the entire world–especially Facebook’s country of incorporation, the United States–is in full effect. Even so, the measures they are taking are much too paltry compared to the challenge to be of any use or effect. The quote below from WhatsApp constitutes the epitome of cynicism, the apogee of hypocrisy: after destroying truth, aiding the incitement of genocide and empowering propaganda machines, FaceBook is making a trivial gesture that effects little change beyond the actor making the statement below.

Caveat emptor! If you are getting your news from WhatsApp or Facebook, you are likely an ignoramus.

“We believe it’s important to slow the spread of these messages down to keep WhatsApp a place for personal conversation,” the company added.

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Facebook to Use AI to Alleviate Its Greed

Facebook plans to use artificial intelligence and update its tools and services to help prevent suicides among its users.

Artificial intelligence is touted as the solution to everything these days, but with respect to suicides committed on or because of Facebook,  AI feels like a band-aid. The only way Facebook can really help prevent suicides is by making its service less addictive so that users can spend more time in real social circumstances with real people instead of being trapped inside a cold illusion of a social experience spawned from their smart phone. Making FB less addictive, however, will make FB lose revenue because its revenues are tied intimately to the number of eyeballs that are glued to the FB web site. Hence, progress is not profitable. The only benefit to society may be the development of an AI baby sitter. As FB and the rest of “social” media infantilize us all, the market will be briskfor such a product.

Source: Facebook turns to artificial intelligence to tackle suicides