We’re only at the tip of the iceberg when it comes to the applications
of virtual reality (VR).
For one thing, incredible amounts of data must be recorded and tracked
to personalize VR experiences. And this need renders data security a major
concern. Some players in the VR space are looking to blockchain technology for
potential solutions concerning issues of data privacy and security.
Autonomous Organizations (DAOs) are entities that do not require a centralized system
of governance to function, instead relying on their members to run the network.
governments and businesses have not deployed decentralized decision-making for both
practical and traditional reasons; however, by mobilizing the incentivization
enabled by blockchains and incorporating the principles of game theory, DAOs are
able to harness the collective wisdom of their members to achieve higher levels
of productivity and efficiency, traits that should interest legacy
The content sharing and communication enabled by tech giants
like Facebook, Twitter and Snapchat have empowered world-changing cultural
movements including #MeToo, Black
Lives Matter and the Arab
Despite these social triumphs, dominant centralized systems sometimes
seek to minimize change when it doesn’t serve their interests. This issue
underlines the need for decentralized content platforms that allow for the
existence of potentially unpopular ideas and communication channels unfettered
by the watchful eyes of centralized governments and corporations.
As the digital landscape stands now, publishers
are rewarded for churning out shocking stories with exaggerated headlines that can
sometimes stand as outright lies.
Compounding the confusion, consumers are
rewarded by peers for sharing the most astonishing and entertaining stories on
social media. When stories “go viral,” publishers are rewarded with ad revenue
jackpots. This feedback loop contributes to a gradual erosion of truth that is
dangerous to the free world. Oxford Dictionaries declared the 2016
word of the year to be “post-truth.”
The current online economy is largely driven by advertising.
Nearly every company with an online presence, from small
businesses to digital giants, collects
data about consumer behaviors in order to target those consumers with
advertisements. Some may see this as a breach of privacy; but for most, the
ease of communication and information exchange facilitated by the internet is
too great of a benefit to give up. But what if we didn’t have to sacrifice
privacy for all that the world wide web has to offer?