By Olaf Carlson-Wee. Tech Crunch.
In a world with many blockchains and hundreds of tradable tokens built on top of them, entire industries are automated through software, venture capital and stock markets are circumvented, entrepreneurship is streamlined and networks gain sovereignty through their own digital currency. This is the next phase of the internet.
For the first time, open-source project creators can directly monetize their open-source network. Historically, successful open-source projects like the torrent protocol or the Tor network were not directly monetized at the protocol level. Now, the founder of a decentralized file storage network can issue blockchain-based tokens that represent ownership in the network.
…These app-tokens allow participants in networks to actually own a piece of the network. This network equity ownership is unprecedented. Consider how many networks the modern western internet user is a part of — Facebook, LinkedIn, Twitter, Uber, Airbnb, eBay, Etsy, Tumblr — the list goes on. In each of these cases, the network’s value is created by the users, but the value each individual user generates goes to the owners of the network. In this new blockchain-based model, that value is actually given back to the users of the network, proportional to their contribution.
Imagine being able to actually make money when you contribute on social media.
When decentralized blockchain protocols start displacing the centralized web services that dominate the current internet, we’ll start to see real internet-based sovereignty. The future internet will be decentralized.
Also check out these organisations working right now on solutions for the world: