The internet is the global system of interconnected computer networks that use the internet protocol suite (TCP/IP, Transmission Control Protocol and Internet Protocol) to link devices worldwide. The internet is simply the network of networks. These networks consist of both private and public networks which speak and understand a common protocol known as TCP/IP. The world wide web (WWW) is a way of accessing contents via the internet. WWW enables the seamless sharing of information using the internet as the transport infrastructure.
The main thrust of the internet/www is the sharing of information, which promotes human freedom, independence and of course business. The popularity of the internet/www is hinged on the premise that it serves as a global information sharing model. Information is shared using emails, websites, chats, internet telephony, etc. Sharing information alone is a sub-optimal utilization of the internet.
For optimum utility of the internet, there was a transition about 9 years ago to Blockchain (Bitcoin). The Bitcoin Blockchain orchestrated the internet of value. It is now globally accepted (especially in Japan, Russia and China) as an official means of payment/legal tender. It is believed that most western nations and Africa will follow suite in the coming years. Trustless businesses and individuals can now transmit value, not merely information via the Blockchain, without need for bank or trusted third-party.
“Bitcoin will do to banks what email did to the postal industry”
– Rick Falkvinge, Founder of the Swedish pirate party.
In the context of cryptography, tokens are crypto-currencies which can represent an asset, a virtual share, a proof of membership etc. Digital token can be used as a currency. Today, the Ethereum Blockchain can be leveraged to create any kind of token (including business smart contracts). If advances in the Ethereum platform is anything go by, then the world should be ready to welcome the emergence of the new internet of value and tokens. As at the time of this writing, we now have over 710 crypto-currencies based on diverse concepts and innovations.
It therefore important to recommend the adoption, and application of crypto-currencies given its intrinsic value and future prospects. A new version of the internet is unfolding, with Bitcoin as the Central Bank of the internet and Ethereum as the underlying backbone of the new internet of value.
Will you be part of it? “Internet brought freedom of information, Blockchain will bring financial freedom to many.” – Suanu Neenwi.