Cryptocurrencies are faced with many people who continue to say it is all a fad, and within a short amount of time, there will be no more crypto’s. While this is easy to understand for a lot of people, these are the ones who don’t understand the technology underneath.
The world will have a digital cash system in place, and when this is capable of replacing hard currency can be anyone’s guess. What will happen in the meantime is the whole face of the internet will change, and not for the better in some areas.
A Governed Internet
It was never intended for the internet to be monitored and user data to be manipulated and stored. Unfortunately, the way governments are going in a crackdown for against terrorism this will happen.
Giant ISP’s have also now been given freedom to control their operations as they deem fit. For many, the net neutrality repeal might not appear to have any adverse consequences, although behind the scenes it is hard to know what any of these companies are scheming.
When the time comes, we could see changes in some of the world’s biggest companies. This could filter down and have consequences for end users.
How it could cause an effect is hard to determine, but if an ISP decided they wanted to charge premium rates for Facebook, it could end up a free social media platform now comes with a subscription.
A lot can be said for another world leader such as Google. If they had restricted bandwidth thrust upon them or were hit with premium rates, the world’s number one search engine could face something entirely new to them.
Decentralize the Internet
The best way to make sure the ISP’s don’t force their monopolistic attitude onto businesses and end users if for companies to take this threat into their own hands.
As mentioned right at the start this is what cryptocurrencies are attempting to do. There is so much underlying technology which can save users from a restricted internet.
Many crypto companies are decentralizing their applications, and when using these the ISP’s cannot track or restrict what users are doing.
It is a step in the right direction, and the more that do this will help take the fight to these large companies and attempt to bring back the control of the internet to where it belongs. The users
Forget the Current Internet
First and second generation cryptocurrencies are attempting to negate the effects of the net neutrality repeal. If they have enough in their projected services to get away from the ISP’s altogether is yet to be seen.
A large ISP blocking or restricting a Blockchain could have devastating effects. The only way of guaranteeing the ISP’s can’t have any control is by the New Internet one cryptocurrency aims to create.
This coin is yet to surface and make itself know, bit if their plan grab holds it can be the end of the internet provider’s dominance.
Skycoin is the said cryptocurrency and fixes most of the flaws with bitcoin. It’s fast, transactions are free and secure. Much of this is the close links it has with the mesh-network which is introduced with Skywire.
When these work together they act as one giant VPN which prevents and government or ISP monitoring internet usage and recording personal information.
They have created a new algorithm which does away with mining and transaction charges and users only pay for the bandwidth they use.
This has the advantage of not having a monthly ISP bill. A mesh-network which is secure and doesn’t suffer from downtime and all communications are P2P. It all sounds pretty good if they can make it happen.
The network is run by the Skywire-miners who get paid for hosting services compared to mining for coins. This allows them a steady income stream without worry too much regarding the costs of electricity.
Net neutrality is no fun for anyone, and that is without anything really happening. It is good that cryptocurrencies have started to do something about it now before it is too late.
The bad wrap that these digital forms of cash have for being a bubble, and a fad is a little unjust. If more businesses sat up and took, notice then ISP’s might not be in the position they are in now.
What they say doesn’t have to go. It is the users who really dictate what happens, and they don’t like to be shoe-horned into anything.
One size doesn’t fit all and the ISP might find their attempts at getting the world full of users to fit into what they want just doesn’t go the way they expected.