We are in a fast-changing world of digital revolution. Tech giants have, together and intentionally, monopolized our digital identities.
Say, Google has more than 90% market share in its search engine business. Facebook has 1 billion daily active users generating more read than that of the Bible. And Amazon earns 44 cents from every dollar of global digital marketing revenue.
Tech giant seats in the center of today’s internet, controlling nearly all traffics and data generated by users. Feed by the data pipeline, they become a terrifying network of conglomerates squeezing every byte of profitable data from users with no respect on personal privacy. To them, users are no more than meats to be processed in a factory, or simply a money printing unit.
The damage caused by tech giants not only affects individuals but also impacts directly to small-andmedium sized enterprises (SMEs). For instance, Facebook was found to have leaked 87 million users’ personal data, while Apple Inc. charge 30% “Apple Tax” on all revenue generated from mobile applications released on Apple Store. Individuals, SMEs and developers are no match for these giants.
Yet a new force is awakening at the middle of the Internet Dark Age, a decentralizing force which has the potential to overthrown tech giants’ monopoly. In 2009, Satoshi Nakamoto established the first Bitcoin blockchain, arousing public interests on the potential of decentralized ledger. Then in 2015, Ethereum comes to life which advances blockchain technology to 2.0, embedding smart contract features.
Since then, development of blockchain technology has accelerated to usages in different scenarios and expansion in processing capacity. These improvements signify the third generation of blockchain technology.
Blockchain technology prohibits unauthorized alteration on transaction history, increasing data security and at the same time reducing transaction costs. Better still, this technology allows everyone to take a role in decentralized ledger, inherently avoiding a single dominating player.
Given the enormous economic potential from blockchain technology, super powers like the United State, Russia and China have escalated blockchain development to a national strategy level. Application of blockchain is widening to most industries ranging from logistics to retailing, and from medication to marketing. Solely in 2017, global investment in blockchain projects had reached USD 2 billion and this figure is expected to grow three-fold in 2018.
That said, decentralized technology is destined to conflict with centralized technology. According to Chris Dixon’s point of view, the first stage of internet (1980s to 2005) laid a foundation based on open-ended communication protocol. The second stage (2005 to current), where tech giants like Google, Amazon and Facebook thrive, is based on booming mobile applications and development in Internet-of-things (IoT). And today, we are undoubtedly heading to the third stage of the Internet era, where blockchain technology highlights the possibility of a decentralized Internet.
This is an era with rapid advancement, replacement and achievement, attracting brilliant minds to participate in the digital revolution. That’s why we established HashFuture HashFuture links the reality with the internet by educating the general public with blockchain-related knowledge using easy-to-understand live scenarios. In the digital world, data would be recorded in blockchain and all participating individuals can interact and trade equally without geographical constraints.
HashFuture is born to engage the value of equality, transparency and authenticity. We firmly believe the shield of centralization will be penetrated eventually. For Digitalization of modern society is a natural selection process and it is irreversible. The upcoming internet would be one that embraces equal participation, fosters trusts, allows freedom of trade and supports mutually beneficial outcomes. HashFuture commits itself to build a better internet using blockchain technology. Our rewards are awaiting us at the end of this magnificent internet revolution.
