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The Financial Problem

Web2 social media platforms like Facebook, Twitter, and Instagram provide a stage for users to connect and share their thoughts and ideas. Any individual can sign up to a social media platform by filling in their personal information, after which they can upload text, images, or videos they would like to share with their friends on the forum. Those who see the post may express their reactions by either liking or disliking it or sharing the post with other friends.

However, once a post is published on a social media network, the platform monetises it via advertisements and promotions. In most circumstances, the content creator does not benefit from activity linked to their article, and the platform may even sell their personal information to aggregators and other organisations for additional cash. Even though the material is unique and has the potential to generate revenue, the profits do not reach the content’s legitimate owner, rendering the existing value exchange between users and social media platforms financially unjust.

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