Chapter 06: Blockchain, Rebuilding The Internet & Web 3.0
“For people who want to make sure the Web serves humanity, we have to concern ourselves with what people are building on top of it.”
-Tim Berners Lee
The internet is now the nervous system for the modern world. Unfortunately, the internet never was created with user security as a top priority. The web has become the critical backbone for the majority of services we use to conduct our daily lives. As we go about our everyday business, it is now almost impossible to interact with another person, company, or media outlet without using the internet. We are now living in an era where people only know that things exist by learning about them through digital mediums or devices connected to the internet.
Despite the number of critical services we use daily that now depend on the internet, it retains several core flaws that it has had since its inception. Juniper Research recently estimated that the cost of cybercrime in 2019 would reach $2.1 Trillion globally. Every day you hear new stories of a companies data or business systems getting hacked. In this chapter, we discuss in detail the three Achilles heels of the internet and how properly applied blockchain technology fixes them.
The internet was never designed to be secure, as the original ARPANET was nothing more than government and academic research personnel at securely isolated institutions talking to each other. They trusted each other and did not have a reason to add in security measures such as encryption to the original TCP/IP protocol. These flaws continue to this day to expose us to hacking, corporate surveillance, and fraudulent identity theft that should not exist. Chances are everyone reading this book has been a recent victim of identity theft or a centralized data breach. Don’t worry. We have a plan, a strategy, and a way of describing exactly how we can fix this global cybersecurity crisis with blockchain technology. Properly applied decentralized blockchain technology can fix 95% of today’s Internet cybersecurity vulnerabilities...
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