Although social media has revolutionized the internet, with more than 5.07 billion users and growing, it has become the subject of controversy. The issues of digital privacy and data security are becoming increasingly prevalent in the modern landscape of social media.
With this in mind, some might be surprised to learn that, according to Deloitte, around 47% of consumers “trust the online services they use to protect their data.” However, Scott Swanson, the founder and CEO of Bonder — a revolutionary location-based communication platform — has a very different view of social media.
The truth of social media
“Social media companies claim to be free services, but as we all know, nothing is ever free,” Swanson says. “Users pay for social media with their data, which these platforms sell to advertisers for mere pennies per person. These are not social media companies; they’re data collection companies.”
Conversely, Bonder is based on a business model that does not derive value from selling users’ data. “We have no value in collecting data on what you’re talking about or whom you’re talking to or from,” asserts Swanson. “And we will never hit that threshold like WhatsApp, Telegram, Facebook, and Instagram where selling data is the only way to generate revenue. Our company has created substantial revenue streams, without selling data, that we think will exceed their revenue models.”
So, how does Bonder keep the lights on without selling its users’ data? The answer is simple: by providing a legitimate, undeniable value proposition.
“Social media platforms treat users like data points,” Swanson explains. “They want engagement — they want you to go deeper and deeper into the rabbit hole of a virtual world where they can see you, watch you, understand you, and influence you. Next thing you know, Coca-Cola spends $10 million with them because they know when you will buy your next 12-pack.”
Swanson contrasts that directly with Bonder’s business model. “We want to elevate people up and out of a social media environment and bring them into a new home,” he adds. “We are about building ecosystems of people helping people. There’s no advertising, no data collection, and no AI. We’re generating revenue by solving proximity problems, social problems, and retail problems.”
As it becomes clear that social media is not as altruistic as it seems, many have begun to express concerns about the safety of their data. History has validated many of these concerns, from Facebook’s Cambridge Analytica scandal to the ongoing investigations into TikTok’s data privacy violations.
Swanson also points to the recent allegations that TikTok is monitoring keystrokes as something that social media users should be concerned about. Although the app claims that these capabilities are in place to allow troubleshooting, what is to prevent the company from using this feature for more nefarious tracking purposes?
“Monitoring keystrokes is not ‘secure,’” Swanson asserts. “That’s not safe, and it’s an infringement of privacy.”
How Bonder creates a secure space for users
According to Swanson, social media platforms claim to secure user data with encryption and other protective measures, but what good does encryption do if these platforms are turning around to sell this data to advertisers? “There has been an abuse of privacy and infringement on our personal lives on a massive scale,” he says.
Bonder fundamentally protects its users’ data because of the lack of data collection and storage. After all, it’s much harder for hackers to access and exploit information if it is not stored in a centralized location.
“We don’t have anything that people or the government would want — we don’t have any interest in it,” asserts Swanson. “We’re not putting it in a pool where it becomes very attractive to the wrong people.”
Instead, Bonder functions on a geofencing system. “We geofence you, and you choose to share your location when you visit an environment such as a store, hotel, or casino to improve your experience,” Swanson explains. “You’ll see people, places, products, discounts and offers, and private circles you can join that are unique to that location. After you leave, you are returned to your private, geofenced ecosystem that you built through personal encounters.”
Bonder’s platform also uses advanced encryption techniques to protect users’ activity in the app. “We have end-to-end encryption capabilities through a company we’ve partnered with in Europe,” Swanson asserts. “It would take 1,000 years for anyone to decrypt what people are talking about in the app.”
Indeed, Bonder is uniquely positioned to disrupt the landscape of digital communications. With so many communications platforms based on business models that derive value from user data, it’s refreshing to see an innovator like Scott Swanson emphasize his service’s legitimate value offerings.
“There’s a fire in the basement of these social media platforms,” Swanson concludes. “We don’t care about you having 20 million followers and 300,000 likes for everything you post; we want to help people create legitimate connections and private environments where you can connect with your favorite friends from your favorite places. We want you to be on this platform and see everyone you know you’ve touched.”