How will the tech industry change with decentralized computing?
Decentralized computing is a mega trend that is not getting nearly as much attention as it deserves; it will likely have an economic, social, and political impact larger than the desktop and cloud revolutions.
- We'll see unbundling of data silos like Facebook and LinkedIn. The ownership of data and the associated power to monetize that data will flip over from large companies to users.
- Cloud storage providers will get reduced to "dumb drives", used to store encrypted data for users. It'd become hard for cloud storage providers to differentiate themselves from each other. In the new model, they all provide just a basic storage utility.
- Users will start owning (personal) cloud servers again; servers that can be online 24/7 and take actions on behalf of users when the users go offline. Running a secure, personal cloud server will become as easy as using current cloud services like Google Docs and Dropbox.
- Publishing the source code for software will become almost a requirement for security reasons. Running closed-source "blackbox magic" software will be perceived as a security hazard.
- Crypto tokens for protocols will become as ubiquitous as software licenses and terms-of-service agreements for cloud services: to use the software in decentralized computing you'll need the respective token.
- Crypto economy will reshape the entire lifecycle of tech companies. Currently, they get their start on Sand Hill Road and end up on Wall St. Soon, they'd start anywhere and end up on token exchanges.
- Computer security engineer, applied cryptographer, and distributed systems engineer will become some of the most sought-after professions in the tech industry and, by proxy, popular subjects to study in colleges.
I, for one, am extremely excited about this next wave of computing. Part of this post was presented in this talk at the Blockstack Summit, July 2017.