What you could do, pretty easily, is revoke access to the latest data that hasn't already been shared, and to have an audit trail of exactly what data has been accessed and when it was accessed. That would still be a massive improvement on the status quo.
I wouldn't rule out the eventual possibility of something like Facebook migrating their Open Graph API to some type of encrypted blockchain. Although I would be completely shocked if it were more than essentially a publicity tactic that wasn't actually using any true decentralization.