Crypto Is Unleashing Web 3.0
In 2011, Jeopardy champions Ken Jennings and Brad Rutter played against IBM’s supercomputer Watson.
It was a true test of man versus machine.
Jennings holds the record for 74 consecutive wins, earning a bit over $2.5 million. Rutter, meanwhile, won an astounding $4.8 million.
It’s fair to say that they’re the best humans to ever play Jeopardy.
But these champs were no match for the computer. IBM’s Watson took first place, with Jennings in second and Rutter finishing last.
Just before he lost, Jennings wrote: “I, for one, welcome our new computer overlords.” It was an ironic twist on a popular meme.
Jennings was spot-on. Even though science fiction novels warn of robots that will rule the human race, I believe the real threat is one we can’t see…
But there’s a new tech that’s going to help us battle this growing threat. It will keep our data private and our lives secure.
And it’s the reason why blockchains and cryptocurrencies are so vital to our future.
Online Privacy Is Dead
Our computer overlords aren’t beating us up just yet.
But they’ve already taken over our digital lives.
Google’s Gmail reads your emails to tailor ads to you. Google Maps sends your location data to nearby advertisers. Every time you hit “like” on Facebook, an online advertiser learns more about you.
Data companies collect, refine and sell this information. There is no such thing as online privacy.
In the information age, data is the most valuable resource on the planet.
“Big Data” firms such as Google, Alibaba and Facebook are some of the most powerful and profitable companies in the world.
You may think advertisers figuring out what you buy may seem harmless. But the implications are chilling.
For instance, China has already taken data collection a step further. It created its own surveillance state by collecting and targeting user data.
China tracks both financial history and online behavior. Every single online transaction is observed by “Big Brother.” Over 50,000 Chinese citizens had to cancel their travel plans due to outstanding debts.
But there’s a new version of the internet that will change everything…
Welcome to Web 3.0
The rise of cryptocurrency is crucial to reclaiming our online privacy.
With cryptos and blockchain, we can do it all. We can make our digital identity private. We can transact online without the prying eyes of a middleman, and we can take back control of our data.
That’s why cryptocurrencies are flourishing right now — total market cap has more than tripled this year alone.
This is all reaching a tipping point with the next generation of the internet: a decentralized internet called “Web 3.0.”
Web 3.0 will allow you to control your digital identity. And you’ll also be able to choose when and with whom to share your information.
The next generation of the internet isn’t coming a moment too soon. It will be key in keeping our would-be robot lords at bay.
Think back to the Jeopardy game between Watson and Jennings/Rutter.
Watson was a machine capable of searching for information. It then made faster, more accurate predictions than two of the smartest humans on the planet.
And that was 10 years ago. Imagine how a modern supercomputer would fare, given all the available data.
Soon, a supercomputer will be able to do more than predict your decision. It will also be able to manipulate you into making a specific decision.
Sure, some of these predictions will be beneficial. For instance, they’ll:
- Forecast a patient’s predisposition for certain cancers based on their genome.
- Identify new strains of coronavirus.
- Map out the safest way to pass a slow car on the freeway.
But not all supercomputers will be so nice.
Imagine this artificial intelligence in Google’s hands. Now your ads are no longer targeted to your desires alone. You’re fed ads for what Google wants you to buy.
This is why our individual data privacy is so important.
We have a choice. We can have a future where we own our own data. Or we can let that data own us.
Blockchains and cryptocurrency make owning our data in the future possible. And in the process, they will create an entirely new decentralized internet.
That’s why investing in this new asset class is investing in your future.
I, for one, welcome our new decentralized crypto overlords.
Editor, Strategic Fortunes
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My career on Wall Street started while I was in college. I spent a summer interning for Merrill Lynch in the middle of the ‘90s bull market. I was fascinated with trading, and as a result, after college, I joined Salomon Brothers in the famed mortgage bond trading department. Later, I spent time at Citigroup working with credit derivatives. Eventually, I needed to walk away from the excess of Wall Street. That’s when I joined Banyan Hill in 2017. Now I help readers get ahead of the market and build their retirements.