Data Tidal Wave coming on Chain that will Blast the utility token sector. #GRT, #LINK, #FIL, #STORJ, #DIP #NU
With crypto and blockchain having one of the biggest years yet. People are starting to ask what is really going on? Is this for real? The answer to that question for those that have been watching for a few years now is yes and this is just the beginning. The mainstream is merging into the cryptosphere. The next thing to be seen will be the take over of web 3 and a data Tsunami on information coming on-chain and dApps replacing traditional business models and structures. This is what will lead to the utility or work token revolution in the crypto space. If you want to learn more about some of the great crypto progress check out https://www.graphtronauts.com/ and read the recent piece on Is it just another Bullrun to see why this run is so bullish.
Today people hear web 3 and ask what is that? Then when they learn about it they Fud about it well never work or we will never get there. For those interested in learning about what web 3 is check out this Forbes article. https://www.forbes.com/sites/forbestechcouncil/2020/01/06/what-is-web-3-0/?sh=131943a258df. For those interested in how web 3 becomes what it is meant to be check out the GraphProtocol post from Yaniv Tal https://thegraph.com/blog/the-path-to-web3. These two articles show where the internet and the web are truly going and for the Fudders, all I can say is start to pay attention as it’s just getting started and the canaries in the coal mine are only starting to make noise. The recent news about visa and master card is only the start, just wait until blockchain starts replacing the current cloud storage. For those that doubt this look into #FIL and #STORJ two awesome data storage engineers for on-chain data. Also, take a look at the historical article below on how it would have happened had we stayed on a 2019 track. What this article did not take into account is COVID and the potential shift to a distributed workforce model.
How data storage will shift to blockchain
If you thought cloud storage was digging in its heels to become the go-to method for storing data and at the same time…
As the article below shows COVID and the distributed workforce model created by it has only intensified the move to the cloud and eventually blockchain. Last year most companies were only playing around with the cloud unless you were in the space and now if you don’t have it you are not going to survive but security is starting to become a question. An example from the below article “Consider the average supply chain processes to get goods from point of manufacture to point of consumption, which includes, on average, 20 bill-of-lading documents traded between the manufacturer, logistics and distribution providers, and retailers. Each step, with its own bill of lading, requires a back-and-forth set of messages and reconciliation, along with teams of back-office workers just to reconcile the data discrepancies between counterparties. This structure has proven to be a catastrophe during the pandemic, as 78% of organizations faced moderate to complete supply chain disruption.” As it discusses “the companies that lead will be those that shed the orthodoxies of the old physical data center world and embrace working in blockchain-based multiparty systems. Collaborating across an entire integrated business lifecycle and ecosystem — working with partners, peers and customers — opens massive frontiers not just for greater efficiency, but more importantly, for innovation, products, and services to help organizations thrive — regardless of what the future holds.
Blockchain + Cloud: Sharing Valuable Data Will Result in New Business Models
2020 was a year of rapid acceleration in the adoption of new technologies, with COVID-19 pushing companies to find ways…
With this coming Imaging a world of decentralized interconnected data structures and the amazing things, it would bring. In just 2018 based on a google search over 2.5 quintillion bytes of data are created every single day, and it’s only going to grow from there. By 2020, it’s estimated that 1.7MB of data will be created every second for every person on earth which I bet was low since it was not COVID adjusted. If just a 10th of this data winds up converting to on-chain data expect an explosion in utility tokens and function taking place. Example include some of the following:
Filecoin, IFPS, and STORJ as places to store and input all the data. Chainlink oracles to get the data verified on-chain. DIP and NuCypher to secure and the data which is one of the greatest challenges of decentralized distributed data. And last but certainly not least the most important GraphProtocal to query and build the dApps of the future to make data access and usability seamless across industries and applications. I recently did a series on Subgraphs to cover some of the amazing things that could come from this and that is just one person's ideas and there are so many more out there. As always remember this is just an opinion article and not financial advice.