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Neo Founder: Decentralization Is Here to Finish Existing Data Silos Rooted By Tech Giants

The charismatic co-founder of Neo and OnChain, Hongfei Da during Unitize- a conference led by a mutual collaboration of BlockShow and SF Blockchain Week pointed to top tech giants and their motives on how they are creating a data silos globally.

According to Da, the tech giants are preventing new innovators to build better internet infrastructure, reliable applications which can benefit enterprises and common users globally.

As per the discussion at Unitize, Da highlighted few points on how prominent tech companies like Facebook, Tencent, and Alibaba are tapping on user data and making people believe what they want them to believe by deploying their sentiments, needs, desires, and aspirations.

Reportedly, there are approx. 4.39 billion internet users connected to the world wide web. The group of these technological giants making full use of it by controlling every action of the users around the globe. These tech giants have almost disintegrated the internet landscape by creating their data silos. Said Da.

With the structured data silos, Facebook, Tencent, and Alibaba have almost held up the competition and created a sort of hegemony over the new rivalry. The tech giants are making huge profits by figuring out their user intent and user behaviors while involving them in the political and commercial world for their benefits.

Moving on further, Da mentioned that next-generation internet is the solution to eradicate their efforts of abusing user’s data, privacy, and governance.

Next-Gen Internet Can Become a Boon 

Da highlighted the importance of next-gen internet and how it can create new business opportunities globally if receives the proper recognition. Also, the upcoming stage is ready to curb the growth of well-established tech giants.

Da said there are top five features of next-gen internet which can make the world a better and sustainable place to grow.

For unrestricted innovation, it is crucial that next-gen internet is modular, permissionless, adaptable, supports interoperability, and having an opt-in feature that respects user’s choice whether to authorize the third party to deploy privacy data or not.

With these features, developers, innovators, new business enterprises, and last but not least, users can freely choose what they want to do, what rules they want to follow.

In Feb 2019, during Neo Devcon, Da asserted that by 2020 Neo Blockchain platform would become the number one crypto blockchain platform.