Decentralization has become one of the key buzzwords surrounding the blockchain craze, but sometimes people forget the main reason decentralization is important: control. Right now, studies show that Amazon controls 40% of cloud services and Netflix controls 15% of the world’s Internet traffic. This is borderline insane, especially when you consider how all of these companies are native to the United States.
Similarly, a need for privacy exists, and with the growing NSA and CIA threat of being spied upon at home, as well as any foreign agencies, it would be useful to be able to have control of your own Internet services.
Substratum to the Rescue
Would you give computing resources to help make the internet a better space, and get paid along the way? Substratum is betting on the idea that people would be keen to participate in this market, and have been building a company that is able to facilitate it.
They ran their ICO in August 2017, with the goal of raising the funds necessary to create a market for hosting services.
Their proprietary token, SUB, is used as payment for serving requests. Network members are compensated with microtransaction for hosting sites, databases, and applications.
On a longer time horizon, Substratum aims to help maintain net neutrality, which has become a consistent topic of discussion in the tech world as of late. Their services will focus on privacy and security (by using encryption) to provide superior hosting services in the beginning and then expand to other services like decentralized storage and service of content, as well as development tools for the new “decentralized web”.
The End Mission
The end mission of a company like Substratum is to create a decentralized version of the web that doesn’t have any of the setbacks that results from many of the oligopolies currently in effect. Net neutrality has become a major topic of argument in the last few years, and finding new ways to avoid anti-competitive practices is absolutely essential as we move into the next phase of mankind’s technological development.
We can all imagine how this would affect the western world, but the promise carries even more importance when you look at more restricted parts of the world, like China or Vietnam. The firewalls currently in place may be circumvented without needing Tor or a VPN.
Substratum has the ability to solve a lot of the current issues regarding censorship resistance. There have been occasional threats or suspensions of service by hosting platforms when they deem something to be “outside their terms of service”, but this is a slippery slope that can be mitigated by having a platform like Substratum. The main difference is that nodes are fully encrypted so they can’t even tell what they are hosting.
A Profitable Opportunity
Whenever a coin hits an all-time low, that makes for a great buying opportunity. Substratum has been hit recent lows, and this makes for a great trade. You may either wish to get in around 0.00001-0.00002 BTC and sell off when you break 0.00005, or you can turn this into a longer-term trade. It really depends on your risk appetite at this moment in time.
Featured image courtesy of Shutterstock.