A developer group is seeding a project that would behave as a decentralized Internet, in a departure from the present model. Posting their intentions recently on Reddit, they said "We will have to start by decentralizing the current Internet, and then we can create a new Internet to replace it." Called Bitcloud, they propose a peer to peer system for sharing bandwidth. Individual users would complete computing tasks such as routing, storing, or computing in exchange for cash. As the BBC explained, "Just as Bitcoin miners provide computing power and are rewarded for solving complex mathematical equations with the virtual currency, so individual net users would be rewarded based on how much bandwidth they contrib ute to the Bitcloud network."
Elaborating on Reddit about this cash model, the developers said this about payments: "One of the many problems of certain free and open source projects in the past has been the lack of a profit incentive. With Bitcloud, nodes on a mesh network can be rewarded financially for routing traffic in a brand new mesh network. This removes the need for Internet Service Providers."
Note to recruiters
Note to recruiters: We are quite aware that recruiters, interviewers, VCs and other professionals generally perform a Google Search before they interview someone, take a pitch from someone, et cetera. Please keep in mind that not everything put on the Internet must align directly to one's future career and/or one's future product portfolio. Sometimes, people do put things on the Internet just because. Just because. It may be out of their personal interests, which may have nothing to do with their professional interests. Or it may be for some other reason. Recruiters seem to have this wrong-headed notion that if somebody is not signalling their interests in a certain area online, then that means that they are not interested in that area at all. It is worth pointing out that economics pretty much underlies the areas of marketing, strategy, operations and finance. And this blog is about economics. With metta, let us. by all means, be reflective about this whole business of business. Also, see our post on "The Multi-faceted Identity Problem".
Wednesday, April 16, 2014
TECHNOLOGY: We the Internet: Bitcoin developers' idea for Bitcloud