Mr. Zac Cheah
Internet usage and its different aspects have insinuated a lot of conversation globally where centralized service providers control over personal/regional Internet access and data storage are seen as a problem in many areas of the world. Surfing the Internet is not as private as once perceived it would be, and large service providers dominate everything from content, personal data usage as well as the sharing economy.
Internet, once perceived as an open, permissionless age of information and communication, has evolved into a network pervaded by pockets of centralized and closed systems to capture value – often with overlooked and adverse consequences. However, that is slowly changing with the advent of Blockchain technology. Blockchain invokes privacy and decentralization.
Need for a Blockchain Ecosystem
By establishing channels of communication with blockchain technology, one has vested responsibility to a vast, distributed network taken care of by cryptograph and controlled by no one to ensure that messages are sent securely. This means individuals and businesses, not centralized intermediaries have control over how their information is shared and with whom.
A blockchain ecosystem can strike the balance of how the internet is currently run, returning powers and rights to consumers. The implementation of a decentralized network shifts the internet from a system where dominant interests control and filter communication to one in which all participants contribute to distribute information and have equal rights to do so.
Evolution of Decentralized apps
Blockchain has a wide range of applications and almost any field can benefit from having such a technology at its disposal. Developing applications on blockchain is certainly something that is new and cutting edge – in fact, there is a new word to describe the type of applications that are powered by blockchain. These are called Decentralized Applications or DApps.