The failures of centralization in protecting individual and business data have been highlighted repeatedly over the past few years. Facebook, Google, Twitter, Microsoft, Sony and many more have all faced large-scale data hacks that have exposed the private information (and more) of their customers. The problem is not just data theft — banks, financial institutions and cryptocurrency exchanges have all suffered at the hands of malicious actors.
Yet, huge amounts of information about our lives and livelihoods are still entrusted to centralized organizations, simply because that has always been the way things are done.
With the onset of Web 3.0, high-speed internet and streaming, the internet now offers enterprising individuals an opportunity to build businesses and careers online, but large-scale organizations are increasingly failing to grant them the recognition they deserve as businesses in their own right, blind to the impact that algorithm changes and software updates can have on online-only business ventures.
Perhaps the starkest example of this