Let´s talk Cryptocurrency and Blockchain: If Microsoft Is In Why aren’t ALL Tech Giants?
What makes Microsoft so exceptional?
Bill Gates is the founder of Microsoft, a digital infrastructure expert. He has taken the #1 place for 24 years now in the FORBS 400 Wealthiest in America, with a net worth of 89B (as of 10/17/17). Mr. Gates has sold and given away a significant part of his stakes, owning just about 1% of Microsoft´s shares while remaining a board member.
The Bill & Melinda Gates Foundations is the world´s largest private charitable foundation, working to improve healthcare worldwide, and according to forbs.com most of their wealth is given to charity, the foundation. In their annual letter to the foundation, Bill and Melinda explain why they dedicate so much time, effort and almost their entire wealth in philanthropy.
“We think that’s a basic responsibility of anyone with a lot of money. Once you’ve taken care of yourself and your children, the best use of extra wealth is to give it back to society.” — he wrote.
“We both come from families that believed in leaving the world better than you found it” — she wrote.
Their annual letter is worth the read they tackle tough questions about health care and education.
Microsoft first began to quietly accept Bitcoin back in 2014 allowing their users in the U.S. to add funds to their Microsoft accounts using Bitcoin through Bitpay as a payment processor.
The tech giant also offers a course on “Bitcoin, Blockchain and Cryptocurrency” on their platform rated E for everyone.
Microsoft Azure Blockchain Workbench allows any company to develop, test and deploy secure blockchain applications in less time. It helps accelerate time through integrations and extensions to the cloud services and apps you already use on the blockchain platform.
Microsoft offers blockchain jobs all over the world.
In an interview Gates gave to The Verge, he makes strong remarks about mobile payments and digital infrastructure being implemented in his health care, education and farming programs. He explains how the digital world will help change global hunger statistics in places that could only be reached by this level of technology, which otherwise would not.
Such places are unbanked and cannot have banks due to all of its costs, paperwork, and bureaucracy.
Systemic inequality was also a topic in reference to women and children around the world, which the cryptocurrency blockchain democratic nature will also come to the rescue. The philanthropist is using the tech to solve world hunger issues and to make education available to all without inequality.
Why aren’t other tech giants adapting to the cryptocurrency blockchain technology?
Apple allows cryptocurrency and blockchain applications in the Apple store, and so do other tech companies, many of which are benefiting from cryptocurrency blockchain “indirectly” like Facebook, Google, and Twitter. Google has banned ICO ads but still allows cryptocurrency and blockchain apps in the Google Play store. So shouldn’t this tell us they are not entirely opposing the technology?
What exactly are these tech giants saying when they are making these applications available to their consumers but aren’t willing to join the platform themselves?
a) We could assume, they believe it is “bad” for their consumers but they do not care, which would be absolutely reckless and I do not believe such well-established companies would expose themselves to such liability; or b) They KNOW it is a remarkable technology but still they are unwilling to join the platform.
The question is why?
There could be many reasons, but I particularly liked what an article from Quora suggested: it´s all about transparency and consumer data. As consumers, we do not realize we are SELLING our data to these tech giants the moment we click “register” and that alone is BIG BUSINESS.
Data brokers have made over 426 million by selling user data according to a study done with 9 data brokers by the FTC (Federal Trade Commission).
The blockchain is a system of ownership, shows exactly who-owns-what with cryptographic security and legitimacy. Joining a blockchain ecosystem would mean they would have to give up on lots of money and ownership of consumer´s data.
Blockchain would give back to the people the ownership of their data, so joining the platform just doesn’t seem like an option for anyone involved in the data broker industry including tech giants.
How many people could say they know about the existence of DATA BROKERS?
“The extent of consumer profiling today means that data brokers often know as much — or even more — about us than our family and friends, including our online and in-store purchases, our political and religious affiliations, our income and socioeconomic status, and more. It’s time to bring transparency and accountability to bear on this industry on behalf of consumers, many of whom are unaware that data brokers even exist.” — FTC Chairwoman Edith Ramirez
A report by the FTC reveals data brokers operate with fundamental lack of transparency.
As you can see tech giants involved with data brokers may not be very interested in making this field as transparent as it should be to consumers.
As mentioned before, there could be many reasons why tech giants (and many others like banks and governments) haven’t joined yet, but do not accept the idea that they aren’t joining the community simply because the technology isn’t legit, just know that the technology is so legit it would pull back curtains many may just not be ready for it yet. But I am sure once ready they will come around.
Now it’s time to give credit where it is due, Microsoft and others like Amazon, Sony, and IBM, embraced the technology with remarkable elegance, open to the transparency it would bring forth in the name of economy, technology, education and philanthropy growth. The cryptocurrency community is pleased to see such giants embrace the future and open up paths for the less fortunate where there couldn’t have been otherwise.
We would like to know your thoughts, let us know in the comments:
Which tech giant would you like to see join the community?
Why do you believe they have not joined yet?
First Published on Winco.io