Blockchain technology is changing the way we interact, the way we build and understand the internet. Blockchain has been described as the technology that can power the next generation of the internet, the decentralized web, and the web 3.0 generation.
It is important to understand how the internet is currently “centralized” and the problems this creates. “Centralization” refers to one or a small number of entities holding sway over a network.
A few companies control most of the action on the internet, and they are known as the FAANGs (Facebook, Apple, Amazon, Netflix, and Google, with other companies like Microsoft and Twitter rounding out the oligopoly). Together, they effectively control the internet. This can be seen in two related areas: data privacy and control of information.
Blockchain on the other hand is all about powering the internet in a decentralized manner such that no single entity has complete control. A move from centralization to decentralization would be a significant change in how information is stored and shared online. A decentralized internet would not use centralized servers. Instead, it would rely on a network of many computers and widely distributing data.
Bitcoin and Ethereum has shown us how Public Blockchains can change the way we interact with the internet. There are projects like Concordium that are heavily researched by researchers from some of the best universities and research centers across the world changing the way blockchains are perceived by businesses. With regulatory compliance by design and fast transactions and high throughput at a global scale. Provable finality helps them prove Finality as a Service ( FaaS) helping business adapt to the new technology with ease.
Some of the smartest individuals are building the new internet. With business on blockchain the final transition will happen and internet will change forever.
I have not come across any other stronger contender that has come this close to replacing the internet as we know it today. Sure, machine learning, VR, AR are revolutionary too but they are not replacing the internet.
It is important to understand how the internet is currently “centralized” and the problems this creates. “Centralization” refers to one or a small number of entities holding sway over a network.
A few companies control most of the action on the internet, and they are known as the FAANGs (Facebook, Apple, Amazon, Netflix, and Google, with other companies like Microsoft and Twitter rounding out the oligopoly). Together, they effectively control the internet. This can be seen in two related areas: data privacy and control of information.
Blockchain on the other hand is all about powering the internet in a decentralized manner such that no single entity has complete control. A move from centralization to decentralization would be a significant change in how information is stored and shared online. A decentralized internet would not use centralized servers. Instead, it would rely on a network of many computers and widely distributing data.
Bitcoin and Ethereum has shown us how Public Blockchains can change the way we interact with the internet. There are projects like Concordium that are heavily researched by researchers from some of the best universities and research centers across the world changing the way blockchains are perceived by businesses. With regulatory compliance by design and fast transactions and high throughput at a global scale. Provable finality helps them prove Finality as a Service ( FaaS) helping business adapt to the new technology with ease.
Some of the smartest individuals are building the new internet. With business on blockchain the final transition will happen and internet will change forever.
I have not come across any other stronger contender that has come this close to replacing the internet as we know it today. Sure, machine learning, VR, AR are revolutionary too but they are not replacing the internet.
