Predicting rain doesn’t count. Building arks does
–Warren Buffett
The ubiquitous freedom of the information age
The dissemination of information in the 21 century is by far one of the biggest marvels that highlight the modern society. There is a wide adoption of revolutionary technologies across different industries given an increasing trend of knowledge-based work around the globe. As a result, information technology has become the driving force of global economies and the interaction ability between enterprises, individuals and organizations have been increasing. Thanks to the internet, information, ideas, and opportunities are accessible virtually from anywhere. The only downside is that most of the available information is still controlled by centralized organizations and companies.
Questioning the idea of centralized information control
Even with the centralization of information, technological advancement in the recent past seems to buck the trend, especially with technologies like Blockchain that are designed to improve decentralization. Such technologies will matter in the future simply because they provide control over data thus impacting global economies as well as social behaviors. For instance, social media platforms provide a lot of convenience for free. However, most of the user data is centralized giving rise to a number of risks to privacy. Stan DeLany, a researcher at Morgan Stanley, believes that people should thoroughly consider the far-reaching implications of submitting their data to free online services as those who own the data in the future (as is the case with machine learning) will end up with the greatest control.
Blockchain building arks for the future economies
With advancement in global technology, some future changes are predictable, especially in the field of education and the employment. As machine learning, augmented reality, biotechnology, and blockchain technology become central in the next few decades, as more and more work becomes automated, the focus will be on the skills of complex problem-solving. Demand for these valuable skills will also lead to the need for continuous learning and development. Out of all these, the establishment of trust will be a key driver of the global economy. Thanks to Blockchain technology’s capacity to not only provide a tool for building trustless platforms with peer to peer interactions, but also a capacity for immutability and decentralization, future middlemen will be eliminated. This is expected to cut down expenses and increase profit margins for businesses across the globe. Furthermore, the availability of smart contracts and cryptocurrencies will help solidify legitimacy of the sharing and collaborative economy. One company that is already sharing its knowledge on Blockchain is ASKfm. They have a platform that provides a knowledge exchange ecosystem that contributes to the growing global trend of sharing and collaboration.
You can find out more about ASKfm here