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.