Next Generation Internet Will Leave Facebook and Tencent Overboard – Opinion
The founder of NEO spoke about what the internet of the future will be
Monopoly and oligarchy will be a thing of the past
Decentralization and interoperability will drive innovation
International consortium of news organizations developing transparency standards.
Hongfei Da, founder of blockchain platform NEO, talks about the importance of the next generation internet and how it will change the balance of power.
Problems of the modern Internet
According to Hongfei Da, founder of blockchain platform NEO, the modern internet landscape is now controlled by several tech oligarchs such as Facebook.In June 2019, Facebook announced preparations for the release of the Libra digital currency. The social networking project immediately caught the attention of … More, Tencent and Alibaba.
Speaking at the Unitize blockchain conference, Hongfei noted that these companies have divided the Internet into several fragments by creating their own data warehouses..
He is also concerned about how such companies are using the data available to them to dampen competition, while manipulating users’ personal data for political and commercial purposes..
Attributes of the next generation internet
According to Hongfei, creating a new foundation for an internet infrastructure that is decentralized and user-centric is the best way to address these challenges..
Modularity. Explaining the important characteristics of the new Internet infrastructure, Hongfei noted that it must be modular so that “everyone can create a part of it, and then each part can be put together to create a larger application.”.
Compatibility. In addition, he noted the need to ensure compatibility and connectivity for new members. These features will give people the freedom to choose the apps they want to use and the rules they want to follow when doing business. He stressed that interoperability is a key aspect of the next generation internet that will help internet applications to interact with each other..
Adaptability. Hongfei went on to clarify that for the new Internet to innovate, it must be adaptable and permissionless. In conclusion, the founder of Neo said that such an internet would create opportunities for business innovators to build better infrastructure for privacy and governance, and build applications for enterprise adoption..
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