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Union Square Ventures and Y Combinator backed startup called
Blockstack, just barely out of stealth mode, has been designing an
alternative browser for what could be fairly described as another
internet, one powered by the bitcoin blockchain. “They are in it for
the long run,” Muneeb Ali, a CTO and Cofounder, said of his investors,
during an interview with the Observer at his office. “They actually
believe that this is the future.” In other words, even if a different
kind of internet undermines past investments, investors still want to
be positioned well for the next ones. [FULL]
On
this internet, no one would need to log in to websites, because your
browser would use its built in public-private key pair to validate you
on each site you visited. Online payments would not need a middleman
like PayPal, either, because they would be made using the
cryptocurrency wallet built into the browser. All of this, by the way,
also makes building websites easier, according to Ali and Shea, because
developers aren’t responsible for securing your data or your passwords.
“You could imagine an app that’s 200 lines of code,” Shea said.
The startup company featured 'Blockstack' is nt
the
only company involved in developing a new internet using blockchain
technology but the enclosed article gives a decent overview of the
elements and features involved.
This is relevant for those that are in tune with the recent handoff of
ICANN to a global entity. It's gratifying to know that the internet as
we know it will be obsolete soon.
Domain registration is turned over to a blockchain (right now, that’s
the original bitcoin blockchain), and no private interest needs to be
involved. There’s no single point to tell computers where to look to
find a site. There’s lots of places, and the more people use it, the
more places there will be. If one path to information is shut down,
another can found.
1 posted
on 10/3/2016, 7:34:14 AM by Hostage
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