Hinting at the Third Path to the Future of Data Rights: An Empirical Study of the Steemit Blockchain

Abstract

Being tired of businesses exploiting user data for financial gain, individual data subjects are increasingly demanding a “fair share” of their data. Although recent policy efforts have addressed such public claims with ideas for a better deal (e.g., data dividends) or a better rule (e.g., data taxation), multiple proposals have catalyzed multiple intricacies than solutions. This article investigates the potential of an incentivized blockchain-powered social media platform as an alternative “third path” to better exercise our data rights. Drawing on Steemit, one of early blockchain social networks that pay its users for generating content, this study conducted topic modeling and content analyses to examine how ordinary users voluntarily and deliberately share aspects of themselves in their user-generated contents (UGCs) and how such “investment” was actually rewarded. Our finding suggests discreet behaviors of users in using personal details despite reward expectations. Users were more likely to share “qualified” aspects about self, such as life vision or philosophy, and personal traits than statistics-driven conventional demographic profiles. They also have implemented various privacy-aware identity strategies, characterized by the clear separation of personal and professional identities in online space. From the value standpoint, our findings reveal that the more one shares about oneself, the higher the reward and thus the realized value. The study discusses implications of this alternative technological solution for understanding data rights and privacy concerns in the context of the emerging economic layer on the platform.