THE BIRTH OF QITCOIN-QTC
Internet technology has increased the transparency, speed, and efficiency of knowledge sharing and interpersonal communication.
The rise of cryptocurrency has prompted us to reflect on the fundamental “currency” embodied in value. The invention of IPFS technology has also promoted the innovation of the lowest technical architecture in the blockchain era.
The founding of the blockchain search engine has allowed people to take ownership of their resources and freedom.
Let us now analyze the digital economy ecosystem as it currently stands:
Yike Guo, Professor of Computing Science at Imperial College London, came up with the well-known data economy ecosystem triangle.
Before 2010, there were only two corners on the left, and the lower right corner did not exist.
After 2010, with the introduction of privacy protection laws in Europe and the United States, China also introduced corresponding policies. Also, the data owner in the lower right corner of the triangle appeared.
In the past, data consumers and data managers completely ignored the role of data owners. In fact, the data owner owns all the data in transactions and revenues.
After 2010, if one wants to use the data for monetization, the data manager must obtain consent and authorization from the data owner with the empowerment of blockchain technology.
With the development of blockchain technology and the maturity of IPFS and QTC, the role of data managers will gradually fade out. It shall replace by direct transactions between data consumers and data owners.
Data consumers have to share the benefits they received with data owners. Yike Guo believes that people will realize this after 2025, and IPFS technology and Qitchain are accelerating his realization.
QTC has led to the empowerment of data owners through decentralization. It is enhancing the control of their data and giving them more say in how the data is treated/processed.
Also, the monetary and other benefits accrued from that data shall be directed to the owners, without the middlemen. Summing it up, this means: “my data, my value”.