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Centralized Data Barons and Cryptocurrency

The internet is global. We are all connected with each other. The internet lets us pay, communicate and share data with anyone in the world. Most people believe these statements to be true, but it is an myth. It is the narrative that governments, data barons and corporate monopolies want us to believe.

The Role Of Data Barons In The Current Internet

Online platforms have multiplied in the last decade. Many of these have become places where internet users spend most of their time online. The one thing that these platforms have in common, is that they rely on user generated content and encourage you to share your thoughts with others. This creates the illusion that we are connected with everyone in the world.

The truth is that we are not connected to each other. We are connected to corporations and data merchants, who we inadvertently trust with everything we do online. The comment we send to our friend in Brazil, we send the data to Facebook first and Facebook then displays this to the user in Brazil. The truth is that there is a middleman and they have access to more personal data than you think.

Most people have either been misled, turned a blind eye, have been sold the interconnected world narrative or they are unaware.

The Negative Impacts Of Data Barons

Most people do not think about data and how it might be used. That is, until it’s too late. Cambridge Analytica harvested personal data from over 50 million US and 1 million UK citizens. What did they do with this data? They manipulated the results of free and fair democratic elections and referendums. The US and UK are not small democracies either and many see these countries as leaders of freedom and fair elections. Harvested data from data barons made all this possible and it was used to further the interests of global elites. The lesson to be learned is that control over data can lead to control over some of the most powerful countries in the world.

If you believe in the principles of freedom and democracy, you should not want an internet where we are connected to data barons. We need an internet that actually connects all of us and excludes data merchants. Otherwise, the data we involuntarily share will be used to manipulate and control us. The first step is recognising there is a problem and only then can you take action.

How Has This Happened?

The infrastructure that ‘connects’ us to people around the world, pretty much always has a middleman that harvests our data. When we share data, it goes through Google first and when we pay people, it goes through PayPal first. We talk to each other, our words go through Facebook first. Because of how the current internet works, we cannot control or see what happens to our data in the backend. Our data can be altered, it can be stored and it can be sold without our knowledge. The problem will persist, until these monopolies own and monetize everything we know.

Now is the time to fight back against the data barons. There is a greater need than ever to create a new world where we are all truly connected with each other and fulfil the vision of what the internet ought to be. In the past we had no option but to accept the system. But now, we have a way out with cryptocurrency…

How Cryptocurrency Is Fighting The Data Barons?

There are cryptocurrencies with a vision of building a new, better and more transparent internet. An internet that cuts out data barons and is built on the principles of openness, safety and true honesty.

These cryptocurrency projects are building the new internet. One in which the backends are open, transparent and user data cannot be altered. These cryptocurrency projects are not just a simple web browser, they are building operating systems and app stores to distribute decentralized apps. Everyone in cryptocurrency likes to talk about dapps. However, not many people have come up with a way to distribute them to the general public. New online ecosystems are being created and the goal is to create the ‘smart internet for the smart economy’.

Centralized apps are another tool for data barons to harvest our data. Most people think apps like Google maps are free, but the price we pay is in the data we share with Google. With decentralized apps we free ourselves from these data barons and come a step closer to creating an internet that actually connects the world.

What Cryptocurrencies Are Creating The New Internet?

There are several crypto projects trying to create a new internet and ecosystem. You can check out my blog at TotalCrypto.io for more details.

Conclusion

Don’t believe the lies spread by centralized data barons. In this day and age we are not truly connected to each other. The internet connects us to data barons who harvest our data and then sell it to the highest bidder. These data merchants have political agendas of their own and history has shown us that they will use this data to further their own causes.

Cryptocurrency offers another way and the opportunity to build a new free and fair internet, free from the influence of data barons. Instead of just complaining about the system, together we can support and build a new system. Cryptocurrency provides us with the opportunity to say no to centralized data barons.

If you take anything away from this article, just remember that apps, social media platforms and payment providers might appear free to use. However, if you cannot see the product, chances are that you are the product. You pay for these platforms in personal data, which can then be used against individuals, communities and even nations. Many would agree that this price is simply too steep to pay.

 

Tom AlfordTom Alford
Tom is a cryptocurrency investor from Edinburgh, United Kingdom. He believes in long-term projects rather than any short term gains, and is a strong advocate of the future application of blockchain technology.

 

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