Technological revolutions follow a predictable life cycle: birth, deployment, and death. The birth phase is characterised by a frenzy of innovation and investment, leading to an economic boom. The deployment phase sees the new technology becoming mainstream, often causing societal upheaval. Finally, the death phase occurs when the technology becomes outdated, making way for the next revolution.
The internet, born in the 1970s, saw deployment in the 1990s and early 2000s. It’s now entering its death phase, with its original promise of decentralisation becoming increasingly centralised in the hands of tech giants. This centralisation is causing societal issues, including the erosion of privacy and the spread of misinformation.
However, every death brings a new birth. The next technological revolution is expected to be a decentralised internet, a web 3.0. This will likely be powered by blockchain technology, which could solve many of the problems caused by the centralised internet. For instance, blockchain offers potential solutions for privacy concerns and misinformation.
While the transition to a new technological era can be tumultuous, it’s necessary for progress. As the internet era dies, the birth of a new, more equitable technological era is on the horizon. The challenge will be ensuring this new era benefits society as a whole, rather than a select few.
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