George Glider, an economist and a technology critic feels that Google could soon lose the game of making money from its user data, if in the case; the technology of Blockchain takes the world.
The technologist revealed these insights in his latest book titled ‘Life after Google: The Fall of Big Data and the Rise of the Blockchain Economy. His insights say that online users will soon start preferring a more decentralized system to handle their data and info and if this happens, then Google could lose the treasure trove of user data.
“Imagine, if small outlets start selling content to users in ‘micropayments’ which would eventually end the regime of the web search giant on a gradual note. Moreover, as all these operations are backed up by Blockchain, then it will provide the transaction an extra layer of security as each of it is encrypted”, said Glider.
Glider feels that the concept behind this entire structure is simple to dispense info to human minds which are distributed.
Blockchain critics, however, say that the idea of Glider might be filled with flaws as the reported potentials and capabilities are being inflated.
If reports are to believe, from 2016 Google researchers have started a trail of using Blockchain services in Google Cloud servers. And the company says that as the results are encouraging they are now exploring much more expansive ways to deploy the technology.
Note- The use of digital ledgers running on blockchain are already powering Bitcoins and other cryptocurrency exchanges by updating the databases across thousands of computers over the internet. Although the distributed form of computer networks can eliminate the need of storing info held on a central note by a single company, it can trigger other issues like trusting the integrity of stored data on other computers.
For instance, if we take Google data storage services into account, all the security and maintenance factors involved in storing data are looked after by the internet juggernaut. And in return, it gains revenue through ads.
If data gets dispersed on different computer networks, then it can raise issues such as the integrity of data when it gets accessed, stored and distributed.
