We must always remember, the masses have no idea what is taking place. They are completely unaware of what is being developed and how fast things are progressing.
Keep this in mind when you are looking at the blockchain/cryptocurrency industry with frustration.
Today, my boss read me an article he found online. I do not have a link to it since I have no idea where he found it but I will give you the general points.
Basically, it dealt with the fact that mega-technology companies are now data harvesters through the cloud. They run huge data centers that were amassed over the last decade. Personal information turned out to be a gold mine yet this might only be the tip of the iceberg.
Cloud technology is starting to take over. Not only are people storing personal data there but it is something that the enterprise world is starting to do. The cloud companies did a terrific job of creating products that actually process the data which companies are finding it impossible to turn their backs on. The idea of business data ending up on the cloud was completely crazy a decade ago.
Of course, 25 years ago, the thought was nobody would shop online since you had to be a fool to put your credit card out there. Obviously, this turned out to be wrong.
Getting back to the article, it mentioned that the cloud will only continue to grow and that centralized data farms would explode in size. Eventually, all data will be on these centralized systems which will only make those companies more powerful.
As this is being read to me, I was saying to myself "bullshit". In my view, this is completely without any merit since it misses what is taking place.
Amazon, Google, and Microsoft all lack one thing: trust. Over time, they all end up like Facebook, hacked and caught using the data of others. It is impossible for a centralized system to avoid this. Couple this with the fact that these companies business model is dependent upon monetizing that data and you can see how change is not going to happen.
My boss asked me what I thought about this and I simply said that centralized systems would not survive. Over the next decade, we will see the rise of decentralized ecosystems that are better able to protect data and give individuals/companies control over it
This all went right over his head. He knows I am involved in crptocurrency yet does not take any initiative to learn about it. One of the biggest moves in the history of the human race and almost all are asleep for it.
Most cannot conceive of something radically different. Blockchain is going to change a great deal about the world. It is a fundamental piece of Web 3.0.
Steemians are well aware of this simple fact: data (information) is money.
The mega-technology companies profited handsomely from it. The average person still goes on Facebook each day printing money for Zuckerberg and his cohorts. He or she does not realize the money that is being burned. Fortunately, for those who are on here, we know what the game is and are profiting from it.
Blockchain is going to be huge because there are too many other powerful technologies coming online. The fact that we are looking such developments as the Internet of Things and AI means that blockchain is a necessity. I love the power these technologies offer. That said, the last thing I want is to be tied to Amazon or Facebook. I have no problem with my refrigerator ordering things for me; the difference is I want it all tied to a decentralized blockchain as opposed to on Amazon's network.
There is one application that is going to turn the world upside down and blow the present system out of the water. It is one that is going to be widespread like email. Almost everyone will be using it and it will make most of the established entities obsolete. This will also take blockchain and put it at the forefront.
That application is a digital identification system.
At the point this is developed, we will see decentralization pick up steam very rapidly. This will instantly give people control over their data while also providing the ability to monetize.
I feel there will come a day when we look back upon the cloud like we do mainframe computers. It was a part of the computing process for a decade or two but that is all: part of a process. Blockchain is the next iteration in network development.
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