Zuckerberg talks about the next decade: community autonomy or "another or even better way of oversight"

Facebook CEO Mark Zuckerberg said the digital world requires oversight, referring to government regulation as a potential solution, but calling community autonomy "another or even better way."

Figure Worm Creative -702645491332546585

"One of the main issues for the next decade is: how should we manage the large new digital community where the Internet is enabled," Zuckerberg said in a January 9 Facebook post.

Xiao Zha writes about the next decade

Zuckerberg published a rather long article on his social media site detailing his priorities for the next 10 years, and proposed several topics, including digital governance-a field also found in the crypto industry Related to the digital ecosystem.

Zuckerberg noted that social media operations, including Facebook, have basically shown that this ecosystem is inseparable from ideal compromises. "It's like between freedom of speech and security, or between privacy and law enforcement, or between creating open systems and locking down data and access," said the social giant's chief executive.

He added:

"There is rarely a clear 'correct' answer, and in many cases it is equally important to make decisions in a way that makes sense to the community. From this perspective, I don't think private companies should make too much of a basic Important decisions on democratic values. "

In further clarifying a request, a Facebook spokesperson gave a Zuckerberg opinion article written for the Washington Post on March 30, 2019.

The cryptocurrency industry is also feeling this kind of compromise. An example of this includes the dilemma surrounding Know Your Customers (KYC) regulations and cryptocurrency exchanges.

Barclays explained in a document about the importance of KYC that these measures have helped reduce criminal activity.

On the other hand, in the case of hacking, providing sensitive documents (such as identification pictures and private information) to a centralized entity may hurt users.

According to Cointelegraph, Binance suffered major damage in August 2019, causing hackers to release sensitive customer information via the Internet. The Equifax hack in 2017 also cost millions of customers.

Regulatory issues

Zuckerberg believes that regulation may be a potential solution to the community governance problem because such government guidelines may provide greater overall effectiveness than companies setting their own rules.

Zuckerberg mentioned that he hopes to maintain regulatory clarity in multiple areas, including elections and privacy.

The Facebook CEO also mentioned community autonomy as another option, listing projects that the social media giant is working on.

Due to the lack of regulation, the cryptocurrency sector is also feeling increasingly uncomfortable, which is clearly reflected in what the industry calls the “Wild West”.

In December, Cointelegraph reported on five countries that underwent large-scale cryptocurrency regulations changes throughout 2019.