NetFlowCoin Foundation, Singapore, 4th July 2022 – Over the past 20 years, the number of internet users has surged to an all-time high, connecting the world more than ever before. But, like all things, the internet is beginning to evolve and transform into its next digital transformation.
“A total of 5 billion people around the world use the internet today – equivalent to 63 percent of the world’s total population.”
This digital transformation that we are seeing is called web 3.0, which is the next stage of the internet’s evolution from web 2.0. The defining feature of a web 3.0 architecture is the rights of ownership. Every user of a web 3.0 architecture will own all their data, and the revenue generated from their data. This will be the future of the internet and can be described as the internet of freedom.
How does web 3.0 work?
There is a lot of speculation surrounding the web 3.0 topic, however, no one can be certain what web 3.0 will eventually end up looking like, although, there are some key characteristics that can be identified today.
The first characteristic is that web 3.0 will be decentralized, distributed, and centralized, as every user will become their own central point within the network.
The second characteristic is that web 3.0 may eventually reform the way businesses, and even governments, are run, through a voting mechanism decided upon by the vast majority of stakeholders.
The third characteristic is that all of an individual’s data will be owned by them, and any revenue generated by that data will be returned to the individual, giving everyone controlling rights over their digital lives.
The fourth characteristic is the way individuals will be seen online. Everyone will have the choice as to whether they want to be open, partially anonymous, or completely anonymous. As our digital identities will be detached from our offline ones.
The final characteristic is that web 3.0 will be vastly more sustainable and scalable. In the sense that every connected device could become its own hosting server. The access to information will no longer be bottlenecked by centralized locations.
Applicational uses of the blockchain for web 3.0
Many people have the misconception that cryptocurrencies, blockchain, and the metaverse are all in the same thing, this is not true they are all standalone systems that have derived from one another.
The blockchain is both innovative technology, and an incentive layer designed to reward those who support a network by offering cryptocurrencies, but a blockchain can still function without cryptocurrencies.
On the other hand, the metaverse can be both a centralized system, or a decentralized system, as the entire infrastructure will be stored on centralized servers owned by a corporation such as Meta, or distributed across multiple servers run by a community of individuals incentivized by a blockchain.
If we focus on the distributed blockchain theory, we can begin to uncover how mankind will eventually interact with the internet, and the services offered across such a network.
By integrating a peer-to-peer distributed network, that has storage, sharing, bandwidth, and communication properties, we may eventually end up creating the perfect balance between data collection and data regulation.
“Technology is evolving and with it, mankind will too”
– Frederick Bravey CMO | NetFlowCoin
Every individual may end up with a digital twin, one that only they have access to, and all the information regarding their digital twin will be sliced and stored across a blockchain that contains hundreds of thousands of independent servers. All the information about an individual’s digital twin will be unattainable by anyone aside from the owner.
This owner can then grant streaming rights to certain aspects of their digital twin to companies and governments in return for services. The key word here is ‘streaming’ not storing.
If we apply this idea to the medical industry, then companies could create a digital twin diagnosing algorithm that constantly monitors the health of an individual’s digital twin, which is a direct correlation to the individual’s offline health. Medical companies could run this algorithm 24/7, and when an anomaly occurs, the individual will be notified.
The same principle can be applied to other sectors such as government services, restaurant services, home management, transportation, etc… and all this information being streamed can be switched off by the user if/when they no longer require a company’s services, with the knowledge that none of their data had been stored by these companies.
How does NetFlowCoin fit into this future?
Interestingly there isn’t a blockchain, or network, designed to support these futuristic features, aside from the NetFlowCoin Foundation’s technology. The internet is a combination of multiple amounts of data and information, connected by a protocol. This is the structural basis of web 2.0.
NetFlowCoin has developed a protocol that enables users to share, store, stream, and communicate with anyone, anywhere across the globe in a completely peer-to-peer distributed network. This network, in essence, acts as the foundational layer that could bring this future to fruition, unlocking the digital twin theory, and solving the centralized architecture problem.
Users of the NetFlowCoin network can create their own personalized internets that enables them to access their data from any device, anywhere in the world. NetFlowCoin users can grant customized access permissions to other users to access their personalized internets, and/or unveil parts of their personalized internet to the entire NetFlowCoin universe, allowing other users to purchase the rights to that user’s resources, such as distributed storing, streaming, sharing, communication, etc…
The NetFlowCoin user, who will then become a miner after sharing their personalized internet access to the NFC universe, will be rewarded in NetFlowCoins, which can be exchanged for monetary value. This creates a closed-loop ecology that benefits all who enter the NetFlowCoin ecosystem.
Learn more about NetFlowCoin
Official Website: https://www.netflowcoin.io/