The Evolution of Modern Technology
Technology can be argued to be as old as man itself; various inventions like electricity, steam engines, railways, etc., have all changed the existence of man and how we view the world. However, most of these innovations have now become more of infrastructures with most governments now regulating and owning these spaces. The more recent definition of technology is one that is mostly borne from the invention of the world wide web in 1989. The internet remains one of the most important innovations of mankind and a springboard for most of the massive strides made by man in recent times. The internet opened new ways of interacting, communicating, transporting, educating, as well as other new exciting, and financially lucrative industries. Modern technology has therefore been viewed from the lens of the internet and its derivatives; today when we say products, we are mostly talking about mobile apps or software, almost every business out there has a website and many entrepreneurs are leveraging on so many forms of technology for business with most being enabled by one software or algorithm or the other. Modern technology is digital apps, software, websites, algorithms, cloud computing, artificial intelligence, machine learning, virtual reality, fin-tech, blockchain, etc. …
Why should everyone not have equal say in how monetary values are distributed? It’s everyone’s money after all.
As kids, we all probably exchanged one thing for another thing that we thought was more valuable to us than what we had at that particular time; I, in particular, exchanged toys that I didn’t like or I have gotten tired of. What we didn’t know that time was that whatever we exchanged with/for, can be also referred to as money, mostly due to the fact that we knew the recognized fiat currencies, and they were definitely weren’t toys.
The first point is, money in itself has no value, the value is dependent on the importance you and I place on it; if we decide that the dollar is not important and we cannot use it for transactions, then it cannot be called money. The evolution of money is also very symbolic; it signifies that money in itself can change and we must be open to such changes. At first, people bartered — exchanging one valuable item for another corresponding one of similar value, people exchanged silk, salt, metals, etc. …
The internet was supposed to be an infrastructure that gave everyone access to self-actualize and create value no matter how competitive it became, but we are failing at that and now it is time to fix the internet to model what it was supposed to be, it is time to decentralize the internet.
We are all now connected by the Internet, like neurons in a giant brain. The Internet is arguably the most important invention of mankind’s existence. The digital era ushered in the birth of so many groundbreaking advancements in science and technology in every aspect of man’s life; whether its communication, transportation, agriculture, education, health, or lifestyle, the internet, and its derivative values have their prints on every aspect of man’s life; it has become the entity in which almost everything revolves around.
However, has the internet truly lived up to its most desired expectation? Can we say the internet reflects the work of the men who truly played major roles in its recent massive successes; will the likes of Tim Berners-Lee and Marc Andreessen be proud of the present dynamics of the internet? …
This article will evaluate the signs and show who are genuinely the emperors of the future.
No one really likes the term “monopoly”, it is mostly seen as evil or oppressive, maybe they are right, maybe they are wrong, but the truth is, can there be a world without monopolies? Or better still, can there be a world where certain people won’t have more control or economic power than others?
The reality is that success comes from creating value: you need to create something that people are willing to pay to acquire and if you can ensure that the value you give is rare or unique to only you, then you are on your path to becoming a monopoly or one of those people who have more financial or economic power compared to others. …
Social singularity versus government-led society
Evolution remains a fundamental aspect of every species and human beings cannot be left out of it. The evolution of a species as a biological entity forms a major definition of the world, but species also evolve socially and culturally even though these two forms can be dynamic and may be more subjective as they tend to vary from geographical locations to another.
The fact is, human beings are never static as a collective or individual entity, we pick up new beliefs and new ways of living and in some cases, these new lifestyles or forms of living can be a general way of living for almost all mankind, take for example the stone age, such an era was a significant moment in the life of every human being living on planet earth. …
The new Libra Version is really seen as a downgrade by many and some even see it as a massive failure for Facebook, but time would tell if it is actually what Facebook needs to boost its entrance into digital payments.
The long-awaited Facebook-led digital currency, Libra, is scheduled to be launched in January 2021 according to credible reports including those involved in the initiative, however, just like how 2020 has canceled trips, canceled plans, and restricted people’s movement, it seems Libra will be launching as a scaled-down version of the previously publicized version in 2019, a situation one would be quickly prompted to tag a failure, especially when you consider how Libra 1.0, when announced in June 2019, shook the whole world.
When Facebook announced the plan to launch a new digital currency, called Libra, many conceded that it was going to be another massive innovation from the tech giants. The project, currency, and transactions were described as a permission-less system: a distributed ledger network wherein (although the nodes were all hand-picked) no single entity had control over the network, meaning it operated as a decentralized network. …
The document highlights that the possible implementation of such a ban would be accompanied by mechanisms to ensure that as much as possible, the security assurance that the data privacy this encryption guarantees, would still be put in place.
End-to-end encryptions are one of the incentives put in place by service providers like WhatsApp
to ensure that users are comfortable with using the apps because they are guaranteed that not even the service providers — for example, WhatsApp — can see messages being transmitted between them and another party. …
The Central Bank Digital Currency(CBDC) is the Government’s attempt to create an equivalent Bitcoin except for this time it would be a centralized currency just like existing fiat currencies. Therefore, the major question would be which currency would likely come out on top, if the CBDC is finally launched, and what are the likely dynamics that would be at play?
Cryptocurrency really became a thing in 2009 after the most popular Crypto, Bitcoin, was made open source. Since then, Bitcoin’s adoption has grown massively in spite of various obstacles especially opposition from the government and mainstream investors, the opposition or resistance from the government majorly stems from the decentralized nature of cryptocurrencies with the digital currencies running on decentralized structures and Blockchain technology thus bypassing any centralized financial institution including the Central banks owned by the government.
Despite the varying resistance from the government including various forms of bans in various countries, Bitcoin has grown massively in barely 10 years, with Forbes reporting in 2019 that Bitcoin was now averaging 350,000 transactions per day at around 15,000 transactions every hour which is approximately 4 transactions per second. …
Although companies like Facebook, Google, Amazon and other big tech companies keep getting accused of monopoly and are constantly under review by the anti-trust law, the fact is they remain the most successful companies in our era and business analysts have argued that although it is possible for platforms to shift and giants to fall, it is highly unlikely for companies like Google, Amazon or Facebook to fail. The question is WHY?
Decentralization is the act of distributing the power of a central authority. But in a contemporary business application, the term decentralization is mostly applied to franchising as made popular by the popular restaurant, McDonald’s or by hotels with their chain services.
However, as the world got more digital and software became the more applicable term for the word ‘product’, the concept of decentralization also began to evolve; nowadays the concept of decentralization is still in play but in more dynamic business models with the most recognizable application of the term found in cryptocurrency or Decentralized Finance(DeFi).
In this article, in addition to decentralization with respect to cryptocurrency, I will engage the other dynamic form of decentralization that is behind the success of the big tech companies and show why the success of business in the 21st century is decentralization. …
If there is one thing recent protests like #BLM and #ENDSARS have taught us, is that citizens have a voice and things can get out of hand if they are not listened to, maybe it’s time for the government to listen to their cry against impunity and police brutality, maybe it’s time for a new system.
Consider the United States of America, it is the most powerful nation in the world, a model for westernization and liberalization; even despite the ideological classification of its two major political parties — republican being more conservative and democrat being more liberal, the United States remain a strong model and example for progressive policies and laws and yet in 2020 she was subjected to one of the most historic protests in her envious history; thousands of people rallied around the streets of the country to make their voices against police brutality with the BLM(Black Lives Matter) movement triggering a lot of protests across the world against impunity and police brutality. …
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