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handshake's insider blog

26

September 2020

the decentralized internet

There is something not quite right about the internet. It’s not what it seems. On the surface it looks like a great boon to human freedom, where ordinary people who previously would not have had a voice can express themselves freely and form communities with like-minded individuals even if they are spread out all around the world. It looks like tool which allows downtrodden populations to spread the truth regardless of government controls, and to organise themselves against tyranny.

Once upon a time there was some small amount of truth to these naive and idealistic visions of the internet. They were always overstated, but still there was some truth to them. This is increasingly not the case. Governments around the world, including in western countries such as the United States or Europe, are increasingly cracking down on online free speech, and using the internet to spy on their entire populations. As people conduct social relationships in semi-public online forums which they would previously have conducted entirely in private, much more of our lives comes under public and government scrutiny. Meanwhile big business can increasingly analyse the ‘big data’ it controls about all of our lives to control us like Pavolv’s dogs salivating over the gruel they feed us through the media. Far from being a tool to promote freedom, the internet is becoming the primary tool of our oppression.

But it doesn’t have to be that way. The internet really can be all of those things which we once dreamed that it was. We just need to decentralize it.

The Benefits: Why We Need to Decentralize The Internet

Start our own internet creating a new internet infrastructure which is decentralized has a number of benefits. Because there is no central authority, or central computer server, which is ‘in charge’ of running a service or website there is nobody the government can go to if they want to censor information which they don’t like. This makes decentralized technologies heavily censorship resistant. This also means that instead of a company being in charge of your data – and therefore being able to use it for their own nefarious purposes behind your back – your data is encrypted and held across a distributed network in a form only you can access. This means that a decentralized internet is likely to have higher privacy standards than our currency technology allows for. The lack of central servers also makes it harder for hackers to break into the sites you use and steal things.

The economics of a decentralized internet are also interesting, as it opens up the possibility for ordinary users of a network to contribute towards its upkeep, and potentially even earn a profit for doing so. The use of another decentralization technology – cryptocurrency – is usually suggested as a way to do this.

Web 3.0: Decentralized Internet Projects

There are several so-called ‘web 3.0’ projects around at the moment, which are trying to create frameworks and platform for a decentralied internet. Of course there are also independent decentralized apps, or ‘DApps’ which use their own networks or which live on top of cryptocurrency block chains. In fact, cryptocurrencies like Bitcoin could themselves be thought of as the first generation of ‘DApps’.

This page is the first in a series of posts on web 3.0 technologies and the decentralized internet. I will keep it maintained with an up-to-date list of all the frameworks and platforms which you can use to make your own decentralized websites and decentralized apps. I will also try to keep it updated with the best information and resources for creating your own DApps, with their own networks, independently and without going through one of these frameworks.

Blockchain’s Big Bang: Web 3.0

The potential of blockchain is enormous as it will be a foundational protocol for the next generation Web 3.0 which we expect will overtake the current Web 2.0 in 5-7 years.

25

September 2020

web 3.0

Web 3.0, the Decentralized Web, Defined

Blockchain technology will be a foundation protocol of Web 3.0, which will support peer to peer transactions and communications that eliminate the need and functions of Web 2.0 central authorities and ‘gatekeepers‘ such as major search engines and social media sites. Blockchain-based peer to peer transactions will range from value transfers of cryptocurrencies and other digital assets, to anonymized identity information and financial accounts that users control.

Web 3.0 will transform us from Web 2.0’s monetization via surveillance capitalism and advertising to monetization built directly into the protocol that is equally available to any connected user.

Pockets of Enterprise Blockchain Success

In the meantime we are seeing limited but noteworthy pockets of success in enterprise blockchain primarily in supply chain (asset tracking and provenance) and payment (mainly stablecoin, fiat token) use cases. The main reason why enterprise blockchain success is limited – aside from technology immaturity – is that the governance models are still basically centralized. They typically replace central authorities with task force/committee/consortium authority where a couple of players exert the most influence. The state of enterprise blockchain today is akin to EDI 3.0 and not much more than that, though it does have significant evolutionary value by leveraging a combination of transforming technologies including AI, IoT, and blockchain.

Blockchain’s Big Bang

The big bang with for enterprises, when it comes blockchain, will not occur until businesses learn to participate in a truly decentralized model. That won’t happen until we move to Web 3.0, and the technologies that support it are mature and scalable. At that point, users won’t have to worry about blockchain protocols, just like today they don’t worry about underlying Internet protocols.

Users and consumers, who in many cases will be their own application and content developers, will just have to worry about their decentralized applications and processes. The rest will just work. We may even get to a point of ‘government for the people by the people’ but that’s for the libertarians to figure out.