Internet brought us accessibility to information, Blockchain technology will give you back “life ownership”.
In this article we will go through this thought about you, as a person, getting back what is yours! What does ownership really mean and how could you be affected by it in a near future.
Why this topic?
First of all, we do love the beauty of the principle invented originally by Satoshi Nakamoto. Giving back to people what they should own. Removing the intermediates in all the industries.
All the services you know are currently being disrupted. A lot of stability has to be established into the blockchain by the community. Laws and regulation have to be defined by regulators. All the major companies are trying right now to become the disruptors in order to be part of the new game.
Today, the services you are using for your bank, as a person or an organization, are using your capital to speculate, without giving you a real choice about the investment you would like to do. A panel of options are offered to you, generally ordered by risks, and you just pick one. You don’t know what is it going on with your capital, it could be invested into a portfolio which is not fitting your values.
The blockchain option is already present, Bitcoins, Ethereum (and all the other cryptocurrencies) are giving you the possibility to be your own bank structure. You are keeping your capital with all the risk that could occur. However, today, in terms of security, you are the only one to blame, in terms of market fluidity, you are the only one to blame. You can cross borders, you are not dependent on a government or anything else.
The most interesting aspect of becoming the owner of your capital will be the way you will blossom that one. We introduced a very interesting way of investing money, into startups or projects before the maturity, the ICOs. We invite you to read the full article about ICOs, but now on you are able to be the main actor of the World of tomorrow. You can decide where your money goes, and for what.
It will be interesting to see how tomorrow’s banking system will adapt itself to our new customer needs. IBM is already working with a European bank consortium in order to provide (and mainly test) the blockchain technology adapted to small and medium business.
Me, my Data & I
Today’s World is mainly full of freemium. Due to free access, you are the product… As simple as that. We are massively sharing data with companies giving them too much freedom and power.
You probably heard about the Google G-Suite issue, where only subscribed email accounts were not scanned for ads targeting. It entirely transformed the brand perception. Scanning every email, collecting personal & intimate information to do business, not my cup of tea. But it is the status quo. Facebook is also doing exactly the same, and we are not going into that topic, but they own a huge share (+25% if I do remember right) of the World’s population data, centralized in their datacenters. It is more than massive, it is phenomenal. James cook wrote in 2016, an article describing his experience asking Tinder about his personal collected data. I invite you to read it.
Furthermore, we could imagine decentralizing all our information but if we integrate the financial part into it, we could also imagine a service where people are selling data to other members in order to create or improve other services based on a peer-to-peer exchange. It is really fantastic to imagine that we could be the owner and get “rewards” for our data.
What we could imagine, it’s to give a chance to new “honest” products to be brought to life, fitting also our expectations, protecting our digital rights and giving us the perfect understanding of the impact of personal data. If we go a bit further we could also imagine that selling data could become a job, a profession. No more need to go to work in the morning, just do various running, travel and sell those data to specific other entity/person who needs them to develop service/product.
Potential is huge, interest will be phenomenal, users will have the chance to fight and handle their digital right!
New way of working
Our way of working is also changing fast. We are reducing the work/home barrier, inter-connectivity is helping us reaching anybody at any time for any co-working session. We are also jumping from one company to another one in a very frequent way. Nothing is keeping us static, we need to move, to learn, to enjoy. People are also much more concerned about the meaning the job they are doing, it is more important than the life comfort you could have. In addition, “Bullshit-jobs” are spotted, people are following their true desires and want to enjoy and being proud of what they are doing.
When we are talking about ownership, we immediately think about possessions. What about imagining that your work, your profession could be affected by Blockchain? You can, first of all, sell your data to make side money, you could also imagine working with some platform like Sense project which plans to create a co-working platform. A service where expertise, for complex projects is rewarded for the incrementation of a specific step. Are you a developer and you resolved a specific bug? Now you will get rewarded and be able to live from the fruit of your work. It will not be a hobby anymore.
In a connected world, where people could reward skills & grit more than diplomas and network, the choice is made. The table is turning and all around the World, people can be able to participate in projects, living their passion. We will be able to not belong to any entities.
I know that my opinion, regarding the Blockchain seems to be biased. As a human-centered designer, your place in the World, your interests, needs & values are more important for me than what I can profit from. As a person, I feel much more concerned and worry about what companies can do. It is probably a generational issue. Fact is, if you get a chance to profit from a system, which is profiting from you today, you will definitively jump in!
I wish this first article was not too much annoying, better ones will come, Stay tuned!
Forbes Will blockchain ignite fractional ownership market for homes
cnbc.com IBM building blockchain for seven major banks trade finance
The Guardian Google gmail users privacy email lawsuit
Slate What I found out when I requested all the information tinder has on me