Elliot Wainman is an expert analyst recognized by the cryptocurrency community. If you don't know him, I recommend following him. Wainman especially emphasizes the importance of Blockchain-based data storage projects.
There are many researchers and experts who argue that the world's most important resource is data, not money or energy.
A lot of things in the world are done online now. In fact, life can be paralyzed as soon as there is an internet outage. All public or private businesses are always connected to the internet. Especially with the pandemic, trade has started to be done more in the digital world. The share of digital companies in world trade has grown tremendously. Digital companies have outstripped many large industrial manufacturing companies.
Actually, it's all about managing money. The more data you have, the better you can control the trade. By collecting people's information thanks to artificial intelligence, you manage advertisements and your trade figures increase. So you make a lot of money. Data isn't just about business, either. By following all kinds of communication of other states, you can determine your own strategy and prevail. In short, knowledge is everything. Almost all data storage systems in the world are centralized. So they have big companies behind them. For example, Google and Amazon.
Blockchain technology offers new opportunities in many areas, as well as opportunities that can end the dominance of large companies in data storage. The balance of power in the world can change thanks to Blockchain, which allows cloud storage services to be decentralized.
Impact of Cloud Storage Systems Built on Blockchain
According to Wainman, with Filecoin (FIL), a crypto money project providing blockchain-based data storage services, the rise of projects such as Siacoin and BitTorrent, which provide similar services, is inevitable.
Wainman claims that countries not wanting to lose their data wars are secretly encouraging people to mine Filecoins. According to the famous analyst, as Filecoin mining is based on the Proof of Stake principle, not the Proof of Work principle, with the increase in the number of Filecoin mining people, FIL may record a parabolic rise.
Wainman emphasizes that some eastern countries, in particular, want to end the dominance of the West in data storage by supporting Filecoin. In fact, Wainman states that some eastern countries have plans to create a new internet infrastructure with decentralized data storage systems, and that the struggle to dominate Big Data will be tough.
Dominating Big Data
There have been some developments in the recent past that support Wainman's views. The events were actually an indication of how tough the Big Data war could be.
A few months ago, billionaire businessman Olivier Dasault, who belonged to one of France's largest families, died in a helicopter crash. In the world press, this event took place as an assassination.
Olivier Dassault was the grandson of Marcel Dassault, founder of Dassault Aviation. This company is a giant technology company that makes warplanes such as Falcon, Rafale and Mirage.
Oliver Dassault also owned Dassault, which also includes OVH, Europe's largest data storage service. OHV competed with Google Cloud, Microsoft Azure and Amazon Web Services, the world's most active companies in the field of data storage.
Dassault, which has deep ties to the Chinese government, established OHV because its data is not in the hands of US-based companies.
Two days after Oliver Dassault's death, a fire broke out in the data storage centers of the OHV company. One of the 4 great centers was completely destroyed. Heavy damage occurred in other centers as well.
Do you think there may be a connection between the death of the owner of the company and the fires?
The war at the top of the world is a war that also includes the issue of data storage. In fact, this issue is perhaps at the center of the war. At the same time, the edge of this war somehow touches the world of crypto money. It's clear how ugly things can get when it comes to Big Data.
Blockchain technology is an element that will play a very important role in this battle, especially in data storage.
I tried to explain how important the subject of "Big Data" is and its close relationship with Blockchain technology.
The crypto community should know that cryptocurrencies are not just economic elements. They are also at the center of the political struggle in the world.
Thank you for reading. Please share your thoughts on this in the comments.
For sure data and information is the world's most important resource. Some have even called it “currency”. You have broached subject matter that goes way over my head. I do not follow Mr. Wainman, but now I will pay more attention. My main concern with “Big Data” is its use to violate our privacy and control our choices. Technology is for people to make our lives easier. People are not made to be controlled by technology, as if we're the robots.
As for the death of Dassault and the fires? My life experiences make me connect events that might not be connected. (I can be a tad bit paranoid at times.) When I have no proof, I resist the urge to say the connection or link is definite; But the fires sure do “appear” to be convenient.
I have read about and/or watched videos on the applications of Blockchain technology. Like all technologies it can be misused and abused. But I believe blockchain and cryptocurrency can be used for good throughout the entire world, in a variety of ways; the economic aspect being just one of those ways.
I don't know much. But I tend to be happy to embrace progress. There is a Big Data War. But hey! There is always a war between Good and Evil.
“The crypto community should know that cryptocurrencies are not just economic elements. They are also at the center of the political struggle in the world.” Yep yep. True true!! Worth repeating.