Facebook could use blockchain technology to overhaul its business model, giving users more control over how their data is used, said Joseph Lubin, the founder of the crypto platform Ethereum. Using a decentralized ledger would allow Facebook users to “store their own personal data in encrypted form” and decide which companies have access to their information, Lubin said. Giving users more control over their information could increase the quality of Facebook's data. “If you know that this data is protected well, you can put it on data markets and Facebook can potentially participate in those sorts of data markets,” Lubin said Monday in an interview with Cheddar. A new Ethereum-based system, uPort, is already providing this service. Users can store all of their data in a secure "wallet" that can be used to log in to other apps and make digital transactions. Last week, Cheddar [reported](https://cheddar.com/videos/facebook-plans-to-create-its-own-cryptocurrency) that Facebook may be building its own cryptocurrency, part of the social media company's exploration of how to use blockchain technology. For the full interview, [click here](https://cheddar.com/videos/ethereum-co-founder-joseph-lubin-2).

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Musk slams Trump’s big tax bill as senators race to meet deadline
President Donald Trump wants his “big, beautiful” bill of tax breaks and spending cuts on his desk to be singed into law by Independence Day. And he’s pushing the slow-rolling Senate to make it happen sooner rather than later. Trump met with Senate Majority Leader John Thune at the White House early this week and has been dialing senators for one-on-one chats, using both the carrot and stick to encourage them to act. But it’s still a long road ahead for the bill. Senators want to make changes to protect Medicaid and to make sure some tax breaks become permanent. Elon Musk called the whole bill a "disgusting abomination.”
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