The social media has an important part on modern people's life. Something this critical is unfortunately in the hands of few firms in the States. Data is today's money. Like financial services there should be proper alternatives.
I propose the development of standards for this decentralized global data management. These standards would allow fast and reliable aggregation of data between different service providers. The end user should be able to choose between securing his/her data by paying for the service or sell his/her data to pay for the cost (that is the only option with current social media services, they sell your data and on paper you pay nothing).
With this platform one can host his/her data (posts, comments, images, video) on a service provider which they trust. No worrying about their data will be deleted or banned. Each service provider would have different terms like a Swiss bank versus a French or German bank. Each service provider would of course need to comply with the hosting country's data privacy terms.
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