State of Technology 2018. Time for blockchain?
Starting 2018, this is how I see the state of technology:
The largest technology companies possess a power leaving most nation states powerless and desperately competing for attention and investments. Today they are not only market leaders, they are market creators.
The success of the selected few technology companies is driven by scale advantages, powerful network effects and proprietary data used to trick human psychology in a scale previously unheard of.
The dopamine rush of notifications and social recognition is challenging our ability to withhold focus, to feel valued and to be present. While the internet is supposed to enable connections, more people are struggling with loneliness than 10 years ago.
Our deepest secrets are no longer shared with the priest, but with search engines and online platforms who store, analyse and monetise from our anxieties and dreams. What’s more, governments and criminals often find ways to gain access to the information.
We always had the choice to stop using certain services in order to take back some of the lost power. However, with blockchain completely new decentralized systems can be build that - potentially - could challenge these large, conglomerate technology companies by making them obsolete.
2018 is probably still too early, but I hope we are getting closer, because I believe we need a change.
Totally agree with 3 out of your 4 point (oh and the final decentralised bit) but don't think large organisations will be able to rely on the network effect for long, due to continued impact of data privacy, cyber security and our ability to retain and control our own information.
100% agree that blockchain type technology will drive this change but think there are some scaling issues to sort first :-)
New business models that they didn't see coming will also have a large impact.
Fingers crossed! Which didn't you agree on - the network effects? Because it seems to me that you agree it is how it is now, but that it is going to change :)