Data is the new oil energy source

[gezhid008]

More and more people are realizing how powerful data is and need to be protected. Data is the new oil, and companies like FB and amazon are the new petrodollar oil champions in the world. Fortunately, blockchain provides a reliable way to break these islands of data and create a world in which data can be liberated by sharing data while still maintaining the same ledger or its original ownership, allowing creators to be rewarded.

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[Ranly123]

More and more people are realizing how powerful data is and need to be protected. Data is the new oil, and companies like FB and amazon are the new petrodollar oil champions in the world. Fortunately, blockchain provides a reliable way to break these islands of data and create a world in which data can be liberated by sharing data while still maintaining the same ledger or its original ownership, allowing creators to be rewarded.

Blockchain provides vast ways to deliver data and to ensure that there is no Monopoly of informations about these technology. Maybe in the furtive, blockchain would be widely used and hopefully the authority will educate people how blockchain works in the society.

[Hydrogen]

Bronze was the hot commodity during the bronze age. Iron in the iron age. Steel in the steel age. Gold during the gold rush. Oil in its respective era(they don't call it "black gold" for nothing). Industrial advancements during the industrial revolution.

What is the hot commodity during an information age? Perhaps: data. Information. We see tech giants like google, facebook and twitter emerge despite not having much in terms of tangible physical assets. They thrive on their capacity to catalogue, index, search and utilize data. Concepts of "social capital" emerge which change the way we think about things.

I would be interested to know what people believe the next hot commodity will be in the era succeeding an information age. Will it be defined in terms of AI? Perhaps some other innovation or breakthrough?

[kryptqnick]

I agree with the main scholars that ours is the era of information. But data can mean nothing if we don't know what's it all about. Moreover, there can be too much data for people to make sense of and exploring a part of it can lead to serious misconceptions! Blockchain is surely a nice way to make a database, but unfortunately it's mostly considered inseperable from cryptocurrencies and thus used mainly to create new kinds of money or securities, rather than store important information in a decentralized and incorruptable way. There is also this issue that is information is of value, it makes sense that some people have it and can share with others not for free as it's a valuable resource. At the same time, it seems unfair that some people can get benefits simply because they knew more than others could know. So, I hope that blockchain as database technology will be also an open way to share information.

[Reinz12]

~snip
Blockchain is surely a nice way to make a database, but unfortunately it's mostly considered inseperable from cryptocurrencies and thus used mainly to create new kinds of money or securities, rather than store important information in a decentralized and incorruptable way

Indeed, the majority of people connect blockchain with crypto even if we ask, maybe they don't understand what blockchain is.
We can just use blockchain as a data store, but it's a pity that there is still human intervention in entering data so the possibility of corruption is still there.
After the data comes in, that's what is stored on the blockchain and accessed by many people, just like a search engine, but we hope the information era develops even better by using blockchain

[Semosuchi Tesongrato]

The fact that data and information are new wealth is certainly not new.
Let's say that perhaps information has become too much, and that true wealth is in the hands of those who can filter, manage and use it for their own purposes.

[coinplus]

More and more people are realizing how powerful data is and need to be protected. Data is the new oil, and companies like FB and amazon are the new petrodollar oil champions in the world. Fortunately, blockchain provides a reliable way to break these islands of data and create a world in which data can be liberated by sharing data while still maintaining the same ledger or its original ownership, allowing creators to be rewarded.

This makes all the sense in the world. Back in the day oil was what ran the world and the companies like standart oil was so big that government had to interrupt it and divide it into many little pieces and even today those companies when combined together worths over a trillion dollars.

However, now apple is that big and amazon is a close second with samsung making headlines everyday. Facebook literally doesn't sell anything other than ads on their website and whatsapp is probably not making a single cent with instagram only few ads. These companies use your data as the income, they worth billions of dollars because you give them your data.

[passwordnow]

That's how powerful data's are now.

Those companies aren't the first one that saw its value until today but at least they remained and believed that its going to be their petrodollar. And including with this innovation, security is going to be more expensive and needed by us.

Don't also forget about google, they save what people are searching and sell it to their advertisers.

[Mathias Allen]

Of course data is the fuel of everything in this IT era. Blockchain is such a splendid operating system of currency exchange which opens the scope to access different datas and to use them. So of course it's a bliss.

[davis196]

More and more people are realizing how powerful data is and need to be protected. Data is the new oil, and companies like FB and amazon are the new petrodollar oil champions in the world. Fortunately, blockchain provides a reliable way to break these islands of data and create a world in which data can be liberated by sharing data while still maintaining the same ledger or its original ownership, allowing creators to be rewarded.

"data can be liberated by sharing data" What do you mean with this?
"allowing creators to be rewarded" I guess you mean creators of intelectual property and patents,not "creators of data"(which doesn't make any sense).
Broad statement + confusing thoughts....

[Angie Vasquez]

Very well said. There is no denying that data is the main wealth in this era of information. I just hope there will be some new innovations in blockchain for securing our data.

[boyshx]

Thats a good comparison for the blockchain and the new currencies how ever I am surprised why you did not call Google as the big island. Haha. Well, its true that crypto currencies have this kind of status now as they are becoming the big data centres everywhere. They are creating huge number of blocks per seconds which are having XY data packs in it forever. Well this can now be used for the storing of critical information, SSL certification and much more things !! I guess soon blockchain will have great importance in the big data companies like Google as it is the only chain that can sustain so much data that is being generated by world. I guess there are big logics for sure.

[yitzjoe]

blockchain can record everything you want to record and this will be safe, transparent and adaptable to your needs. but I still have some people who are afraid of this kind of ledger recording, whatever they fear and what the purpose is behind it. the starch blockchain makes it easy to collect and record data as we expect

[Thekool1s]

I would be interested to know what people believe the next hot commodity will be in the era succeeding an information age. Will it be defined in terms of AI? Perhaps some other innovation or breakthrough?

I don't think AI will take over data as the hot commodity. They sure will go big but they won't replace data as the 'hot commodity'. You need data to make your AI smarter. The more data you have the better you can train your AI. BTW we still haven't finished mining data. We are still far from the day where there will be no user data to be mined. Around 3.2 Billion people still have no access to the internet. The market is still there and is still booming and it's becoming cheaper by the day to get hold of valuable data. According to a youtube video I saw, A Facebook's user data is only worth $12 to Facebook, Which is frightening if you ask me. Facebook knows things about you more than your closest family members do and they think that you are only worth $12 for them.

The Terrifying Cost of "Free” Websites
Video Link: https://www.youtube.com/watch?v=5pFX2P7JLwA

Data isn't going anywhere it will only evolve further. RealTime Data mining and IoT will be the next big thing.

[jademaxsuy]

That is the power of the new technology (blockchain technology).

However, this may not apply to all especially in the data that is being secured with the government agencies for safety purposes. Not all of the data should be publicly shown even with block chain technology.

[Brunusmagnus]

It is an obvious observation that no decision can be better than the information on which it is based; in the same way, in any case war wins whoever dispose of the best information and therefore makes correct decisions.
Unavoidable to think that information is treated as a precious commodity ...

[Baofeng]

More and more people are realizing how powerful data is and need to be protected. Data is the new oil, and companies like FB and amazon are the new petrodollar oil champions in the world. Fortunately, blockchain provides a reliable way to break these islands of data and create a world in which data can be liberated by sharing data while still maintaining the same ledger or its original ownership, allowing creators to be rewarded.

Lol. What do you mean new oil? Data has been the back bone for many years now, specially when software companies or firm started  to boom in late 00's so this is not new. They started the trend that data not only needs to be protected, but it can make or break a company because all business operation decisions should be based on datas. Companies needs something to measure to demonstrates how effecting they are in achieving their key business objectives.

[AmoreJaz]

The fact that data and information are new wealth is certainly not new.
Let's say that perhaps information has become too much, and that true wealth is in the hands of those who can filter, manage and use it for their own purposes.

yes, its not really new at all. but i think, it's now that more individuals become aware of it. it has long been used by so many companies for their businesses. and youre correct, those who know how to fully utilise that information have the actual gain with these big data.
so if youre a very private person, be alert on what youre signing up for or what possible data that youre giving to social media and the likes

[Kemarit]

~ snip ~

I would be interested to know what people believe the next hot commodity will be in the era succeeding an information age. Will it be defined in terms of AI? Perhaps some other innovation or breakthrough?

Probably advance AI in the future. Imagine robots being self-aware (scary though) and be all over the society. From helping doctors or doing advance diagnostics accurately or even in crypto and stock trading itself, bots beating the markets. However, we all know that if AI bots took over, it will have a toll on an taking away jobs from regular people like us. Our society will transform but I don't know, if this could spell doom for us humans.

[Thekool1s]

~ snip ~

I would be interested to know what people believe the next hot commodity will be in the era succeeding an information age. Will it be defined in terms of AI? Perhaps some other innovation or breakthrough?

Probably advance AI in the future. Imagine robots being self-aware (scary though) and be all over the society. From helping doctors or doing advance diagnostics accurately or even in crypto and stock trading itself, bots beating the markets. However, we all know that if AI bots took over, it will have a toll on an taking away jobs from regular people like us. Our society will transform but I don't know, if this could spell doom for us humans.

You don't need self-aware AI's for helping doctors or doing advance diagnostics accurately. Look into Watson from IBM. It is already helping doctors around the world, especially in the field of cancer. Plus the markets are already controlled by bots. You should really look into AI more. You will be surprised what AI is already doing. I will recommend you to watch this video by CGP Grey: https://www.youtube.com/watch?v=7Pq-S557XQU&t=1s

The society will go through this 'change' too, I have hope in 'humanity'. As long as AI will ensure that the elites have control over the masses you have got nothing to worry about. You will see things like UBI and other welfare systems get traction. The future currency maybe data itself. Cuz whoever controls/owns your data basically will own you. You should be more worried about the corporations who will own you in the future.

[atariguy]

The use of blockchain is truly limitless, and the most important applications may even still be familiar to us and yet to be seen.

[Menawi12]

More and more people are realizing how powerful data is and need to be protected. Data is the new oil, and companies like FB and amazon are the new petrodollar oil champions in the world. Fortunately, blockchain provides a reliable way to break these islands of data and create a world in which data can be liberated by sharing data while still maintaining the same ledger or its original ownership, allowing creators to be rewarded.

You forgot to mention google. Google having big data people around the world. Their sofware like android used by most people in the world and they collecting data from their user. Its true, big data will be good bussiness in the future

[Cryptostruck]

More and more people are realizing how powerful data is and need to be protected. Data is the new oil, and companies like FB and amazon are the new petrodollar oil champions in the world. Fortunately, blockchain provides a reliable way to break these islands of data and create a world in which data can be liberated by sharing data while still maintaining the same ledger or its original ownership, allowing creators to be rewarded.

I see the world moving towards this direction in no time, blockchain is a real game changer in this era.

[gonzadz77]

The fact that data and information are new wealth is certainly not new.
Let's say that perhaps information has become too much, and that true wealth is in the hands of those who can filter, manage and use it for their own purposes.

yes, its not really new at all. but i think, it's now that more individuals become aware of it. it has long been used by so many companies for their businesses. and youre correct, those who know how to fully utilise that information have the actual gain with these big data.
so if youre a very private person, be alert on what youre signing up for or what possible data that youre giving to social media and the likes

I am agree the data and the information are the main source of companies. We can consider it as engine of a car. We can't run our car without engine.

[LeGaulois]

More and more people are realizing how powerful data is and need to be protected. Data is the new oil, and companies like FB and amazon are the new petrodollar oil champions in the world. Fortunately, blockchain provides a reliable way to break these islands of data and create a world in which data can be liberated by sharing data while still maintaining the same ledger or its original ownership, allowing creators to be rewarded.

Blockchain provides vast ways to deliver data and to ensure that there is no Monopoly of informations about these technology. Maybe in the furtive, blockchain would be widely used and hopefully the authority will educate people how blockchain works in the society.

Data storage has a cost (and companies spend more and more in storage infrastructures), and if you consider the Bitcoin's Blockchain (how big? ~180 Gb?) then it is a huge size. It would be better to use a fork like Bitcore, (its blockchain size is about 900 Mb) consuming x10 less on storage.
And to add, we don't need a government to teach to people how blockchain works.

[rez303]

More and more people are realizing how powerful data is and need to be protected. Data is the new oil, and companies like FB and amazon are the new petrodollar oil champions in the world. Fortunately, blockchain provides a reliable way to break these islands of data and create a world in which data can be liberated by sharing data while still maintaining the same ledger or its original ownership, allowing creators to be rewarded.

Data is really very important in modern times now. There are tools that can look at our data and know how we are. That's why advertising campaigns are becoming more and more popular because it meets the needs of the people who need it through our personal data.

[domarakooth]

The fact that data and information are new wealth is certainly not new.
Let's say that perhaps information has become too much, and that true wealth is in the hands of those who can filter, manage and use it for their own purposes.

yes, its not really new at all. but i think, it's now that more individuals become aware of it. it has long been used by so many companies for their businesses. and youre correct, those who know how to fully utilise that information have the actual gain with these big data.
so if youre a very private person, be alert on what youre signing up for or what possible data that youre giving to social media and the likes

Anyways if you don't mind could you please just elaborate the following tens "data can be liberated by sharing data" and how blockchain is involve with liberated sharing data? .Blockchain is the different platform and has ability to safe data not share.

[aoluain]

More and more people are realizing how powerful data is and need to be protected. Data is the new oil, and companies like FB and amazon are the new petrodollar oil champions in the world. Fortunately, blockchain provides a reliable way to break these islands of data and create a world in which data can be liberated by sharing data while still maintaining the same ledger or its original ownership, allowing creators to be rewarded.

I agree that ownership of data can be controlled, recorded and tracked with
blockchain but only in certain types of data. The stuff posted on social media
is posted by people who either dont care about ownership or realise they
sign away the rights to what they post.

More and more people are realizing how powerful data is and need to be protected. Data is the new oil, and companies like FB and amazon are the new petrodollar oil champions in the world. Fortunately, blockchain provides a reliable way to break these islands of data and create a world in which data can be liberated by sharing data while still maintaining the same ledger or its original ownership, allowing creators to be rewarded.

Data is really very important in modern times now. There are tools that can look at our data and know how we are. That's why advertising campaigns are becoming more and more popular because it meets the needs of the people who need it through our personal data.

The most important link in the chain. Is "humans". We are just as important
as the data because social media needs us to point their advertising at.
We are the product of social media, not data.

[olubams]

More and more people are realizing how powerful data is and need to be protected. Data is the new oil, and companies like FB and amazon are the new petrodollar oil champions in the world. Fortunately, blockchain provides a reliable way to break these islands of data and create a world in which data can be liberated by sharing data while still maintaining the same ledger or its original ownership, allowing creators to be rewarded.

Data is the sum total of our existence at this time. The world has evolved that at this time, anyone who has the most data controls the others. Its has become something so pronounced that what every company goes for now is data as that is what will determine whether they will survive into the future or they will whittle away before the next decade. However, the major issue is the security of the data which have been compromised in no small ways but the blockchain has come with a solution to that providing a transparent immutable way to store data.

[shinharu10282016]

More and more people are realizing how powerful data is and need to be protected. Data is the new oil, and companies like FB and amazon are the new petrodollar oil champions in the world. Fortunately, blockchain provides a reliable way to break these islands of data and create a world in which data can be liberated by sharing data while still maintaining the same ledger or its original ownership, allowing creators to be rewarded.

The thing about 'data should be protected' is a bit of an understatement. We have been using different social sites and all they do is sell them to other people. Our birthdays, other personal info. Just that there have been a lot of restrictions lately in the first world countries that it affected the third world ones in cases of protecting such data. Even youtube does that. What do you think of the ads there just randomly popping out of each video you view? The 'sponsored ads' you see on facebook too.

[Betwrong]

The fact that data and information are new wealth is certainly not new.
Let's say that perhaps information has become too much, and that true wealth is in the hands of those who can filter, manage and use it for their own purposes.

yes, its not really new at all. but i think, it's now that more individuals become aware of it. it has long been used by so many companies for their businesses. and youre correct, those who know how to fully utilise that information have the actual gain with these big data.
so if youre a very private person, be alert on what youre signing up for or what possible data that youre giving to social media and the likes

It's almost impossible in the modern world to live full life and at the same time be on the alert about what you are doing on the Internet. It's either you live like a hermit or you are socially active and almost everything is known about you. The good news is that with the help of blockchain technologies it is possible to make sure that not only Facebook, Google or other big companies know the information, but everybody in the world has access to it. Only this way we can prevent the tyranny of the "new elite" modern philosophers warn us against.

[bitbunnny]

I like this comparison. Today data are equaly powerfull and important for mankind like oil was. But still many people don't understand the importance of data and how powerful weapon they can become in the hands of wrong (or right) person. Today you can make the war only with information and you don't actually have to kill someone.
Our conteporary life is all about information and in the future that will become even more important, everyone who recgonizes this will have advantage.

[usorin]

Everybody knows that knowledge is power so it is a natural.trend that companies started to search for data to create marketing strategies and not only.

[spongegar]

Too true. The data you get from millions of users like their search trends, reactions to political issues, keywords anf the likes coukd be a turning point in moving the masses and controlling them to come onboard with an idea. It is like you holding a button that could instantly creat a mob with torches on them. Pretty dangerous stuff if you ask me.

[virtfund]

Data is exactly new commodity of new world. Like oil, you may increase its value by processing it. A few company have most of the data reserve of the world and they use it on their behalf. Decentralization may help us create sharable and mutual data.

[Globalbitcoinl]

many IT companies have long been robbed of turnover and overtook companies that are engaged in the mining industry. I think this is a good trend

[supermine]

Bronze was the hot commodity during the bronze age. Iron in the iron age. Steel in the steel age. Gold during the gold rush. Oil in its respective era(they don't call it "black gold" for nothing). Industrial advancements during the industrial revolution.

What is the hot commodity during an information age? Perhaps: data. Information. We see tech giants like google, facebook and twitter emerge despite not having much in terms of tangible physical assets. They thrive on their capacity to catalogue, index, search and utilize data. Concepts of "social capital" emerge which change the way we think about things.

I would be interested to know what people believe the next hot commodity will be in the era succeeding an information age. Will it be defined in terms of AI? Perhaps some other innovation or breakthrough?

Why not it will be bitcoin that is the dram of satoshi I hope.Lets look out this discussion the data is not the source it becomes the business now a days because people exposing their details to all the social medias so the companies who want to broadcast anything related to that person will buy his data for good price and will try to manipulate his mind by showing that product he is very much interested to buy and will make them to buy.

[realcrypto]

Technology is evolving on daily basis and it takes sensitive individuals to know the trend of technology and migrate with it. In few decades from new the oil energy section will be history unless it is synchronize with blockchain technology.

[chrisculanag]

More and more people are realizing how powerful data is and need to be protected. Data is the new oil, and companies like FB and amazon are the new petrodollar oil champions in the world. Fortunately, blockchain provides a reliable way to break these islands of data and create a world in which data can be liberated by sharing data while still maintaining the same ledger or its original ownership, allowing creators to be rewarded.

Thats why data is important to us and i think the more time that expose in the community the big the chance of spreading in the world. But i think we need more improvements in data is needed because some hackers can easily approach every accounts that we have and put some security is one of our safety.

[harimauagam]

a lot of data is now useful for the state and should not be applied to the community because of that to prevent the breach by a reliable hacher.

[jseverson]

It's comparable to oil in such a way that it's the next big industry, but they're not comparable in the least otherwise. Data isn't scarce, for one, so it can't single-handedly make a country rich like oil has done. I'm not even comfortable comparing oil companies to data-specializing companies just because of how different the dynamics are.

I also don't think the blockchain can break these companies' grasp over data. I mean, how is it going to do that? There hasn't really been any issues about data ownership amidst all these scandals. Everything stems from sharing your own data -- whether that goes into a private database or a public blockchain is a moot point. They can be propagated and used maliciously either way.

[nur rochid]

More and more people are realizing how powerful data is and need to be protected. Data is the new oil, and companies like FB and amazon are the new petrodollar oil champions in the world. Fortunately, blockchain provides a reliable way to break these islands of data and create a world in which data can be liberated by sharing data while still maintaining the same ledger or its original ownership, allowing creators to be rewarded.

Thats why data is important to us and i think the more time that expose in the community the big the chance of spreading in the world. But i think we need more improvements in data is needed because some hackers can easily approach every accounts that we have and put some security is one of our safety.

i think we can take steps to provide additional security to keep data safe. besides that, we also have to be careful, because there are many loopholes for hackers to retrieve our data

[squog]

These daya are especially valuable in politics. People could keep a their hands on the pulse of the people and could manipulate how they'll react to certain news. I've seen forst hand how suc information are used and how they easily manipulate people. That is why i don't watch the news anymore.

[tonyja2017]

More and more people are realizing how powerful data is and need to be protected. Data is the new oil, and companies like FB and amazon are the new petrodollar oil champions in the world. Fortunately, blockchain provides a reliable way to break these islands of data and create a world in which data can be liberated by sharing data while still maintaining the same ledger or its original ownership, allowing creators to be rewarded.

That is the difference of blockchain technology and facebook. That's why many people want to enter the market because blockchain technology helps them not to disclose their information. Everything works in silence and anonymity. That is the strength of blockchain technology.

[awik p]

More and more people are realizing how powerful data is and need to be protected. Data is the new oil, and companies like FB and amazon are the new petrodollar oil champions in the world. Fortunately, blockchain provides a reliable way to break these islands of data and create a world in which data can be liberated by sharing data while still maintaining the same ledger or its original ownership, allowing creators to be rewarded.

That is the difference of blockchain technology and facebook. That's why many people want to enter the market because blockchain technology helps them not to disclose their information. Everything works in silence and anonymity. That is the strength of blockchain technology.

even though it works quietly and anonymously, but the blockchain has a real effect to help with work. but even though it's anonymous, blockchain provides transparency, making it safer

[hahay]

These daya are especially valuable in politics. People could keep a their hands on the pulse of the people and could manipulate how they'll react to certain news. I've seen forst hand how suc information are used and how they easily manipulate people. That is why i don't watch the news anymore.

Anyway, the news must be known at least so that we know the latest issues that occur in the political world. If you already know they are just nonsense with manipulated data, then at least you will know the chaos of many people who are easy to believe about it, so you can take advantage of the incident.