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Is Blockchain the Future of the Digital Domain? What Does the Newmark Group Think?

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There is a lot of debate and speculation related to the future of the Internet. People have tried to explore this domain in the last few years with several research works. With the increase of the digital world and immersive experience exploring the growth of social media, the digital platform has become a medium of communication and transaction. With this rises the role of Blockchain. It has become a technology that is transforming the world in distinct ways. It is not the first change in the digital domain. Since its emergence in the last 30 years, the Internet has evolved as it stands the way it is today. These transformations have changed how people use the Internet and the purpose for which they use it. However, what has impacted the Internet is the network of Blockchain.

  • The non-changing Internet as highlighted by the newmark group

In the age of the website, the first interaction of the public Internet took place. Every institution required a website, and the website became the primary identity card for the institutions. It contains static information and data that the entrepreneurs of the website thought was significant. The corporate websites had data regarding the company, which was marketing collateral. Reference and news websites also came with a stockpile of data. But all these websites post data to the clients as one-way communication. 

It was similar to the conventional media that, included magazines, newspapers, television and radio that communicated data to the individuals. Whether the agency was a proactive news agency or a corporate brand, every institution soon understood the significance of a website that provides information to its clients. The website was working as an entity that the company made and owned. It had static information and data managed and controlled by the agency. The information flowed unidirectional that was outside the user of the website. 

In this business model, data personalization was limited. Since it was one-way communication, users got the information. They would select and filter the information they required to consume, but they had little ability to manipulate what the data communicated had not. Users could not impact other users. Information sharing between the users became limited to the bulletin board or local friend group. These represented limited and focused audiences.

  • The website application

The second change in public Internet took place and became what it is now. Here, agencies concentrate on providing a platform for users to provide their information and interact with each other. The new web application assured a trend of making personal blogs and later expanding the same on the social media domain. Companies across the globe try to use this means to democratize their data. They created several applications to help individuals post virtual information on a specific topic and share it with a vast audience. In the recent iteration of the Internet, web applications with social networks owned by agencies provide a platform for users to furnish data in the application and share it with individuals they know. Today, web applications help users to communicate across the globe with individuals they never met personally.

  • Smartphone and Blockchain 

With the help of a smartphone, the use of the Internet grew in leaps and bounds. Now every individual stays tuned to the Internet every time. They stay connected with each other and share information on distinct topics. They may talk to individuals they want, whenever they want, and wherever they are. The Internet has exploded. While users got a chance to communicate with individuals across the globe, companies owning the application collected extensive information regarding the user and their dislikes and likes. 

The data became a valuable asset and a critical source of profit for the digital forum. Companies across the globe who are the founders of the applications started procuring more and more cash based on these changes. Then the agencies discovered a new thing they may do which was curation. Rather than presenting data from one user to the other, they use the information they collected about the individual’s preferences to provide information sharing to the person’s interest. The social algorithm started taking place, and the web application agencies wielded vast power in manipulating what data the people of the globe received.

  • Authoritative data

In the 3rd generation, information is maintained and stored in distinct areas, not just web applications. Instead, information and data get stored on the Internet itself. In the 3rd phase of evolution, data is available for applications that require access and are validated. The information is not owned by the application or controlled by the web platform agency. The web application plays a less significant role in maintaining and managing the data. No application plays the role of information curator, so you can say that there is no powerful social media agency to influence the information people to see on the Internet.

If you look at statistics, you will see that end users control and manage the information and data, and that resource is collected and used outside the company’s control. These web applications are clients of the information, but none of these manages or owns the data. So web applications are secondary in data management. You may work with the Newmark group to learn more about Blockchain. They have expert professionals who deal in this.

Information and data get distributed and stored through Blockchain, which an agency manages. All the information in the Blockchain gets transmitted across the Internet within a network of computers.

The goal is to enable uncensored, shared, authoritative and curated information independent of the web application and its influence on the resources. The data is managed and owned by the same owners, not the web application. The result is a more trusted and authoritative Internet since information is referenceable, sourced and uncensored.

  • The growing significance of the Blockchain

A new technology known as the Blockchain introduced the revolution to the 3rd generation of the Internet. The Blockchain is the central player in data distribution across distinct users. Blockchain has several features that enable the transformation, which is listed below:

  •    Distributed ownership: There is no one source of the request for the information in the Blockchain. Anyone may participate in blockchain distribution. Anyone may contribute to the Blockchain and derive from the same.

Data stored in the Blockchain is irrevocable, immutable and cryptographically signed. Every individual knows the owner of the data, and every data is confirmed as the source and contributes to realism. So it adds to its authenticity and authoritativeness. It increases trust and reliability in the overall process.

  •    No single agency: There is no role of a single agency to mediate, manage, filter or prioritize the data. In the Blockchain, every individual owns the data distributed across different platforms like social media and other channels. It helps in the better management of information.

It is easy to establish that Blockchain encourages trust between two parties. There is trust in information and its source since they tried to make the transaction transparent and verifiable. Blockchain is similar to other trades, but since there is no single communication owner, the user gets comprehensive control over the process. Various agencies depend on Blockchain for regular operation. Thus, entrepreneurs must understand the potential of Blockchain and use it for better communication. It will contribute to your business finances and add to your credibility.

Along with this, you must try to filter information and try to understand the best ways of limiting Internet traffic. Even powerful nations are using Blockchain as a part of their Internet to provide comprehensive information to their citizens. Hence, it is the job of every entrepreneur to enhance their engagement with Blockchain to create a whole new field of communication and contribute to the transparency of the transaction.

  • How to use Blockchain technology without going wrong? 

Blockchain will help you accomplish the maximum from the Internet data. It becomes the backbone of your business model. You create a filterable, trusted, and sensible repository of information accessible worldwide by disseminating information. Blockchain technology is a significant characteristic that produces the best atmosphere for you and your workers to function. The most critical benefit of blockchain technology is that it adds transparency and security. 

It is one of the secure means of transaction that adds to its credibility. Do not confuse yourself with Bitcoin and Blockchain. Both these are distinct domains. However, you must know that Bitcoin relies on Blockchain, but the Blockchain is not Bitcoin. The value of Blockchain has increased in the last few years. 

The time has come for you to understand that this new technology is more than a technology. It is a new way of thinking about information that will create a new genre of the Internet. It is fundamental to data security and simultaneously contributes immensely to information and resource transmission.

Experts have data on blockchain technology. Understand it before investing in it so that you do not have to bear losses. Getting into a domain without understanding it in a precise manner can get you in trouble. You can make huge profits through this technology only if you know how to handle it with expertise. Guidance and data from experts can do wonders.