Megaphone
Google and Facebook profit from capturing
user data, monopolizing and restricting ac-
cess, then repackaging and selling that data
in the form of a targeted advertising service.
At a fundamental level, this business model
is the same for any company with a database.
As we enter deeper into the era of big datasets
being used to train artificial intelligence and
machine learning, the monopolization of data
will present tremendous competitive advanta-
ges resulting in further centralization and con-
solidation of wealth and power.
The reason corporations are enthusiastically
pursuing *private* blockchain technology is
precisely due to the potential to:
1. Automate business operations
2. Cut human labor costs
3. Further monopolize data and
market share
4. Increase profits for shareholders