Redefining Blockchain Development and What That Means

On the surface, it might seem that the time has never been worse for a company to try and make its mark in the technology field. Thanks to the way Internet 2.0 has played out, mammoth companies like Google and Facebook control the data and control the world.

If your mind has not yet been boggled today, ponder this: Google and Facebook alone account for almost 70 percent of online ad revenue. Nearly three-quarters of ALL internet ad revenue is in the hands of two companies.

And when we say controlled, we mean exactly that. It’s incredibly hard for upstart companies to make inroads into that pot of loot, so jealously is it guarded.

Consider the closed source code and unimaginably vast pools of data owned by these giants to be out of reach for the average developer. It would be almost impossible to break into the search engine field or even the social media field in a big way these days.

If ever there was an era of stifled innovation, we’re living in it. Or are we? There are a couple of new technologies you might have heard of – blockchain and Artificial Intelligence (AI). Let’s take a look at how these new titans of tech might throw the development field wide open again.

Why AI Loves Blockchain Data

How will innovation happen in the near future? We’ve already mentioned that the Facebook/Google model and their monopolized data is all but dead to the rest of us. But things they are a’changin’. For proof of this we have to look no further than the incredible explosion of blockchain popularity.

Blockchain is the decentralized, open source, transparent software that was released into the world in 2009 as the foundation that underlay the first successful cryptocurrency, Bitcoin.

In counterpoint to the Google/Facebook model, blockchain data incentivizes developers to take the open-source code and run with it. Create new features and functions and figure out how to build useful applications on top of it.

The sheer size of the data set is staggering. To look at the Bitcoin example again, this network went from nothing to the largest computer network in the world in the span of a few years.

And large means large. The network is 10,000 times the size of the next 500 largest computer networks combined.

So, to answer the question of why AI loves blockchain, it’s because of the smorgasboard of data available to munch on. More than anything else, AI programs love to sift data, process it, and use what it learns to make predictions and recommendations.

The bottom line is that a blockchain network is a more ready source of available food (data) than the Google/Facebook kitchen will ever make available for public consumption.

Changing the Model

From what we’ve discussed, it should be obvious why tech innovators and developers will likely gravitate away from the model that demands rent for their data (Google, Facebook, Amazon, etc) and towards an open-source model that offers basically everything for free.

When it comes down to the choice of concentrating the power in the hands of a few companies or the masses of people, we know which way we lean.

Not to mention that gravitating beyond centralized control can only be a good thing for society in general as the best and brightest minds grow tired of playing in tightly controlled sandboxes and head out into the blockchain.

And when it comes to AI applications – possibly the most exciting advancement in human history after toilet paper – developers who specialize in these kinds of projects will be happy to leave the centralized model behind in ever-growing numbers and give the blockchain a shot.

It was once unthinkable to imagine the demise of Facebook or Google. Maybe it’s a little bit easier now. More likely is they will figure out a way to slowly migrate to a blockchain.

To review the top three reasons AI loves blockchain technology…

#1. Any developer can access a global data set to train the AI on.

#2. By operating outside the biased corporate interests that characterize Internet 2.0, we improve the chances of creating safe, neutral AIs.

#3. Since built-in blockchain incentives are known to everyone, all the cards are on the table, so to speak.

The Bottom Line

We were teasing a little back there when we proffered the idea that that today’s big companies might not survive the transition to Internet 3.0.

More likely, since they don’t have idiots in charge, is they will learn to create their own products and services in the blockchain world, which will likely include directing their R&D departments to make use of all the open-source data they can find to build their own blockchain protocols and native tokens.

They’ll learn to play in the blockchain space for the good of themselves and society will benefit as a side effect, and that’s not a bad thing.