How blockchain may take over Google and end the age of “big data”

Google’s model is simple: aggregate data and gain revenue from ads. But as people grow increasingly frustrated with ads and security concerns, technology writer and economist George Gilder theorizes that Google’s days may be limited.

Google, Facebook and other tech giants make it clear that we, the average consumers, are not their customer. In fact, we are the product. Our personal information is highly valuable to advertisers. This is why tech giants offer their platforms and services for free.

In contrast to Google, blockchain is a nearly unhackable, peer to peer system of info blocks which secures information. It forms the basis of cryptocurrencies, and there is a startup ecosystem fast developing around it.

George Gilder coined the word “cryptocosm” for these new blockchain-based companies seeking to disrupt markets. Google and tech giants give away their products in exchange for your private data. The cryptocosm is all about privacy and anonymity - there’s no centralized storage of names and passwords to be hacked.

Forgot the password for your Apple Drive? Years of your own data may be lost forever because you can’t retrieve it without that password. This is the current model of “data security”. It is easy for hackers, but can be impossible for average users to get their own info. Blockchain returns data security to the owner.

Bitcoin is just one aspect of the cryptocosm. Cryptocurrency is a threat to big data, as it is becoming more widely used and accepted each day. In 2013, Marroquin University in Guatemala was the first to accept permit payments using cryptocurrency.

Peer-to-peer is taking over. Platforms like Airbnb and Uber are evidence. Peer-to-peer money transactions via Venmo, Paypal and others have already taken off. It’s just a matter of time before private, more secure versions of these become the norm.

Products showing promise against big data include Brave (founded by the former head of Mozilla). It’s an internet browser that is faster, more private and enables ad-blocking. It’s totally anonymous, secure and rewards websites with cryptocurrency.

Ethereum is another big threat to current tech giants. It’s a blockchain platform app that validates things beyond just cryptocurrencies, such as smart contracts. This allows avoiding Securities and Exchange Commission regulations, and is ultra-secure.

The most promising of all blockchain developments may be Blockstack, which appears to be aimed squarely at Google. It’s a network for decentralized apps which allow developers a simple path into the blockchain world. Blockstack is browsable, open-source and allows surfing, creating and sharing.