The future of all technology is in sight, the blockchain revolution, artificial intelligence and quantum computing. Anybody watching this space knows that it is growing at an exponential rate. The boundaries of technology are being pushed on a daily basis. Token generation events are going live on a regular basis. What is it about these technologies that catches the eye of the everyday user? Is it decentralization, transparency, anonymity or is it all just a big bubble that’s about to burst?
A Decentralized Future
An immutable fact about blockchain is that it is entirely transparent, with nearly all blockchain projects being open source, enabling any developer to modify or add sections of code to the project. Altering logged data throughout a blockchain is virtually impossible. Everything is traceable, with countless amounts of eyes prying on the space at any one time. It gives complete trust back to the everyday user.
Some projects look to enhance anonymity, not entirely possible with a blockchain open ledger. Although an address is linked to one person, that person’s identity remains unknown, except with sophisticated blockchain forensics following the transaction trail. A variety of blockchain projects have opted to have multiple ledgers, public and private ledger options. Could this be a defiance of the point of decentralized and transparent space?
“Privacy is not something that I’m merely entitled to, it’s an absolute prerequisite.”
Marlon Brando –
Specific modern-day problems arise with complete anonymity and a lot could be said for being able to transfer a large number of funds from point A to point B without transparency. Does society need to establish a firm base on the moral standing of this matter? After all, nobody wants to see blockchain technology fund terrorism, money laundering or trafficking.
Secrecy is the linchpin of abuse of power… its enabling force. Transparency is the only real antidote.
Glenn Greenwald –
Decentralization plays an integral part of blockchain technology, with no central data hub in use. The blockchain uses predetermined variables to manage each transaction. The blockchain runs these through nodes (people’s computers) which are all connected via the internet. Eliminating the central data hub could, of course, cause mayhem for central banks and big tech giants if this technology is to see global adoption.
Will artificial intelligence and quantum computing help restore order, will they enable a new era of blockchain technology? Or will quantum computing render blockchain technology completely useless? There is already a quantum computing blockchain project in the works. Who knows what will come with quantum resistance, and whether it will enable or disable.