The digital world is moving towards distribution faster then we are realising it. The World Economic Forum published in a study 2016 even that in 2027 at least 10% of the global GDP is processed with the Blockchain technology.
Interestingly the distribution of data, which is based on consensus of the participants, does not divide data – is actually brings merge of various data sources even closer. It’s like in today’s world our friends and family become far more distributed in all places all over the world – yet the world seems to become smaller – as we connect to friends from all over.
The future of Blockchain is not Blockchain.
Of course Blockchain mostly introduced us to a series of new technologies – which are not merely ‚Chains of blocks‘ but rather utilise the corner stone ideas of Blockchain and Bitcoin.
What are those is dependant of each Use Case, including the data storage across all places, transparency, immutability, trust in trust-less, democratisation, incentivation, durability ….
Therefore the more general term Distributed Ledger Technologies (DLT) might be more accurate.
GDPR & Data Privacy loves Distributed Ledger Technologies
The initial paradox of data for the eternity and the data privacy including the right to be forgotten for personal data is actually a core strength of this technology. While data can be stored encrypted and decentralised, the access and permission log can be implemented immutable – and therefor give the user and data owner full transparency over their data.
IoT – Blockchain – Artificial Intelligence
As more and more sensor data is generated and stored in a public database and accessible by more and more users, the benefit of A.I. increases with this data amounts for training.