How the end of net neutrality might actually be good for the blockchain in the long run
With the controversial FCC decision to throw out net neutrality regulations, many are questioning how long it will be until the “pay-to-play” era of the internet comes to be. Without net neutrality, service providers are free to provide their service in whichever way they please and charge as much as they want. Supporters of the decision state that the free market should be allowed to decide which service providers survive and which don’t, not regulations from the government. This, however, becomes slightly troubling when you realize that their are only really 1-2 options for ISPs in most places in the United States. This limits the ability of the free market to do its work. The internet needs to be a free and equal platform, where no content is preferred, and ideas are allowed to compete based on their merit and not solely on the amount of money behind them.
Being a believer in a free and neutral internet, I was disheartened by the decision to repeal net neutrality regulations. However, being an optimist and a believer in free markets, I found some hope when looking to the future. I believe that as internet service providers continue to go down their current path and the quality of service continues to lack, people will seek alternatives. Regardless of net neutrality, the lack of competition in the ISP space has lead to the US having some of the slowest internet speeds in the developed world. With the rise of cryptocurrencies and the technology known as the blockchain allowing people to take financial services into their own hands without having to rely on parasitic third parties, the question comes, could this new technology effect how we access the internet?
Internet by Blockchain
The weaknesses of the current system, present a unique opportunity for the blockchain to take advantage of. These have the potential accelerate its adoption. The internet being run on a blockchain like Ethereum, is actually not that crazy to imagine. Theoretically this internet would be equal, more secure, and eventually even faster. Instead of their being central nodes (servers), which host all of the content, and support the network. Everyone who is participating would be responsible for supporting the network. For future decisions to go through they would need to be agreed upon by at least 51% of the users on the network, making the internet its own world democracy. In order for this to be a reality the number of computers supporting the network and processing blocks would need to be far higher than it is now. Although we are definitely many years away from this being a viable solution, their are those who are currently working to show that the blockchain is capable of hosting all that we know and love about the internet.
The explosion of Cryptokitties has shown us that the blockchain is capable of hosting games. There are also many in the space right now working to show that it is capable of cloud storage (Storj, Sia), content hosting (Steem), and even social media (SocialX). This wouldn’t just be a solution capable of giving us back equality, but also some of our privacy by not allowing any central authority to manage/control our data, and sell it to the highest bidder.
The repeal of net neutrality regulations is not the cause of the problems with the internet. It is but a symptom, of a very sick system. This system will, over time, inevitably be replaced by something which fills its shortcomings, this is evolution. The Internet is a incredible thing which has brought to the world an unbelievable amount of wealth and knowledge, but the system is broken. If history tells us anything it is that this creates an opportunity for a stronger competitor to emerge. I believe that the blockchain is the most compelling option at this point and that its inherently democratic approach will lead it and us, to places we have not yet even imagined.
