Until now, the internet has been primarily controlled and run by large, centralized powers such as major corporation, banks and governments. Since we depend on these institutions for almost every transaction, they have maintained control over many aspects of our online and offline activities. Examples of these are centralized monopolies such as Facebook and Google who monetize our data, credit bureaus that dictate who can open a bank account, and governments that regulate everything from online policies to information censorship.

This creates a problem where these entities not only govern our access to the data that we as consumers create, but they are also responsible for protecting this valuable data. As we've seen many times, centralized systems can be easily hacked or taken down, compromising users privacy and access to their own data.

Thanks to the adoption of blockchain technology, the world has another option: an internet where individuals can directly own their digital assets and exchange value without the need for dependance on third parties. This internet is run by communities of users and networks of computers would power vital services. Thanks to blockchain, these networks are very difficult to compromise and empower individuals to take back control of their own data.

There are many blockchain projects that are building the backbones of this new internet, including decentralized banking, web hosting, DNS, data storage, and asset ownership. In addition, blockchain allows for users to own and control their own data. Once data is stored in a decentralized manner, even if the application that first created that data is hacked, the user's data continues to exist and access to that data stays with the individual user.

Did this answer your question?