It is easy to understand how and why change occurs through the lens of history. But looking through the lens of the future, spotting revolutionary change is an art. When it comes to technology, one way to spot groundbreaking trends is to imagine how and why decision-makers will adopt a new technology… and when it comes to crypto, these decisions will be no-brainers.
One key element which will drive crypto adoption is the competitive landscape between corporations. Facebook (FB), Apple (APPL), Amazon (AMZN), Microsoft (MSFT), and Google (GOOG), together known as the FAAMG technocracy, must integrate into each other’s platforms to offer a full suite of services to their customers, which is virtually the entire developed world. They must do this because they have each achieved dominance within a certain niche and have eliminated any substantial competitive options to choose from. I’ll oversimplify their niches here: for Facebook, it is social media, for Amazon, it is online retail, for Google, it is search, for Microsoft, it is its browser, and for Apple, it is its web services.
For example, Apple offers Google’s search services, allows simple access to Facebook’s media, and has also integrated Microsoft’s Office Suite into its platform (whereas in the past, Apple had kept Microsoft products off limits to their customer). Because Apple’s user base wants reliable search, and since Google has a virtual monopoly on search engines, there aren’t any other viable options for Apple but to use Google search engine.
Why do these companies work with each other as they compete for their own dominance?
It’s for their own benefit to do so; they please their clients by offering a full suite of services rather than just their individual niche. In fact, they are forced to empower each other because of the dominance they achieved in their targeted market—leaving their competitors with no other choice. Thus, they help expand each other’s markets and bottom lines by working together; in this respect, their growth is in tandem. A unifying monopoly of sorts.
But what if there were other options?
The decentralized internet through crypto will be the other option. Rather than being forced to adopt and integrate into each other’s platforms, the FAAMG technocracy (which currently owns and rules the internet), will instead choose to integrate with decentralized offerings—which are the cryptocurrencies that specialize in decentralized services. In the past, these services like search, social media, and mobile app platforms, were only available through centralized FAAMG. Soon, they will be offered through public blockchains owned by the people.
To achieve their preeminence, Facebook, Microsoft, and Google have thrived off free services. Search is free, the browser is free, Facebook is free. They make their money by collecting our behaviors through our online interactions and reselling that data to third parties. But guess what… the next version of the internet built upon crypto technology will also be free, with the caveat that it is run by the people and for the people.
So, when the executives in the board rooms of the FAAMG technocracy have the option to either integrate into a decentralized crypto service, or continue to develop around the centralized offerings of FAAMG, which will they ultimately choose?
They will choose decentralized crypto. Here’s why:
Since these companies are competitors, they do not like empowering each other if they don’t have to. Rather than strengthen a corporate competitor, the decentralized service option will be the better choice. Apple will choose a decentralized search engine. Facebook will optimize its it services around decentralized applications (dApps). Google will drive it search traffic away from FAAMG. And Amazon will seek to empower decentralized platforms, rather than Google, Microsoft, Facebook and Apple.
And these decentralized choices are becoming more and more available. For example, Brave is a decentralized browser. You can earn BAT (Basic Attention Token) by using the Brave browser. Steem is a decentralized social media platform that is just getting started, and Qortal is looking to offer decentralized web hosting on its blockchain.
We are thereby in the early stages of a tectonic shift. Technocratic businesses make strategic decisions to increase profits and drive out competitors. When it comes to internet dominance, the companies within the FAAMG technocracy now primarily compete with each other. This is because these death-star-like monopolies have already squashed out other major competitors.
Thus, the decentralized crypto option will make the most sense for FAAMG in the future. And these new crypto services are developing at a rapid pace. The FAAMG technocracy, by which the internet currently runs upon, will create these disruptive forces through the integration of decentralized blockchains into their networks. Decentralized services will be the best strategic choice they have.
Will there be some meeting of executives at FAAMG to conspire against decentralized services to retain their dominance?
This is an unlikely conspiracy theory at best. FAAMG itself will also be impacted by the slew of other tech companies choosing to integrate decentralized services. You see, cryptocurrencies and the blockchains they run upon is a major productivity innovation.
Imagine the way the current internet runs. You have a server that hosts software which is owned by an entity (institution or an individual). A blockchain, however, is a network of servers that hosts the software instead… on a well-built blockchain—the data is highly secure through cryptography and un-hackable. Decentralized blockchains are thus owned and controlled by all the participants in the network, which is we the people. They are technologically superior—and once the world gets the memo on the superiority of public blockchains, they’ll realize that this is how we empower ourselves.
Going forward, tech companies across the board will adopt blockchains as a database option to securitize their networks and to improve their customer’s experiences—they too will choose to integrate free, decentralized, democratic services over services that must be licensed. In this way, the entire internet will transform from the internet of surveillance capitalism of today into the people’s internet of tomorrow. Pipe dream? Maybe, but we’ve never had a better chance to reclaim our sovereign future than now.