Why should you care about decentralised technology? 

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28 March 2022 - 13:55, by , in News, Comments off

We recently launched the decentralised knowledge graph node course to teach non-techies how to set up and run a decentralised knowledge graph node. But why should anyone care about this and other decentralised technology?

Before we explore the reasons, let’s cover how we got to this point.

The foundation

The advancement of network technology, programming languages and blockchain laid the foundation for a decentralised future. And until recently decentralisation was largely a work-in-progress, experimental enterprise.

Helium Hotspots

It wasn’t until early 2020 that things really started to take off. Emerging tech companies like Helium launched their decentralised telecoms (IoT) networks to compete against their centralised counterparts (BT, AT&T, Verizon). 

Helium now has almost 700,000 nodes – or ‘Hotspots’ – around the globe. In return for providing IoT network coverage hotspot owners receive Helium cryptocurrency. Read more about Helium here.

Early adopters of Helium’s decentralised technology i.e. those running Hotspots have been rewarded handsomely (1000% increase in price HNT over 2 years). Not only that, businesses large and small are taking advantage of the new low cost network to run IoT devices.

Origin Trail blazing

Another decentralised technology with a similar business model is Origin Trail. Rather than IoT technology, the Origin Trail node is a knowledge graph (DKG) and offers trustless industry-wide I.T solutions, among other things. 

The list of use cases of DKG is growing. BSI recently launched a training certificate verification solution based on DKG technology. Pharma logistics company, Poseidon, in partnership with BSI, offer a DKG solution for trustless supply chain management. 

On the horizon, DKG applications are expanding into the decentralised finance space – know as Defi – NFT and web3.  

So why should you care about decentralisation?

Future applications aside, right now businesses owners might see potential in the tech to help solve problems in their industry where completion means agreement on a single solution provider is difficult (ref: Poseidon trustless solution example).

Businesses and institutions involved with training may see the benefit in its certificate verifying capabilities (akin to BSI certificates).

Entrepreneurs may see business opportunities in the tech and want to get early mover advantage. Likewise for those curious about web3. 

Decentralised knowledge graph technology is in its infancy. But, if the history of Helium is anything to go by, it will probably pay dividends to get an early start.

Learn how to set up your own Decentralised knowledge graph node. With our online course, you can set up and run a node in 45 minutes. No programming experience required.

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