How crypto data can be beneficial
We all know about cryptocurrency. Now, it’s time to apply the benefits of blockchain technology to data.
Cryptocurrency: In code we trust
Cryptocurrency has introduced the paradigm of digital trust to the internet, a revolutionary update that has spurred all kinds of innovation — from dApps to NFTs and other applications of smart contracts. Because we have been able to accomplish digital trust, we’ve also been able to build programmability into money, allowing for trusted, automatic transactions that act according to coded criteria. Programmable money has been the first application of cryptocurrency, inspiring the mantra “In code we trust.”
What if we continued the trend and built “programmability” into data, atop digital trust? Can we push trust down the stack from applications to databases?
Crypto data: In data we trust
Crypto data leverages blockchain technology to embed digital trust in data structures, allowing us to inherently “trust” data. So, instead of simply trusting the process by which code is executed via programmable money, we can move toward truthful information via programmable data.
Being able to trust data opens new opportunities for innovations. Data can be efficiently exchanged across enterprise lines in the name of operational efficiency. Machines can trust and exchange data to make better decisions in the machine-to-machine web.
Governments can publish trusted reports to their citizens. AI algorithms can be built from a variety of trusted data sources. Community-based zero-trust ecosystems can verify election results and root out deep-fake misinformation. App developers can build composable experiences, drawing from a variety of trusted data sources. In all of these scenarios, being able to verify the
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