Polkadot's Vision

Polkadot's Vision

By Web3 Foundation | Polkadot | 10 Jul 2020


The technology we rely on in our daily lives has, in many respects, fallen out of alignment with human interests, rights, and wellbeing. In response to this growing realization, there's a rising call to action, a global expression of the urgent need to create more human-centric technologies.

In line with this broader goal, Polkadot is the next-generation blockchain protocol at the heart of a vision for a fair, secure, and resilient web that protects user interests by design (Web 3.0).

Polkadot's vision

Clearly the web has brought us undeniable benefits, but looking back we can also see a disturbing trend: the underlying structure of the internet has led to a concentration of power that benefits the few at the expense of the many.

Today the vast majority of internet traffic is controlled by a handful of companies. Using the web means trusting centralized mediators with our digital lives, exposing ourselves to data manipulation, censorship, fraud, and surveillance.

An internet where we're forced to place blind trust in middlemen, gatekeepers, rent-seeking platform monopolies and data silos is a fundamentally broken internet. The digital systems we depend on should not require us to trust others to protect our money and our most sensitive data from theft and abuse.

Polkadot is designed to take back our digital sovereignty and agency from powerful third-parties, while also providing the foundation for new business models, services, organizations—and even entire societies and economies—to take shape and thrive into the future.

Polkadot takes the revolutionary promise of blockchain technology to the next level, uniting an entire network of purpose-built blockchains into a single scalable ecosystem with a secure standard for cross-chain communication.

As the underlying protocol for a thriving ecosystem of specialized, interconnected yet sovereign blockchains, Polkadot lays the framework for a new decentralized web—one that enables a future in which:

  • Digital infrastructure protects our interests by design

    Privacy protections and respect for human rights, including the right to self-determination, are built in and uncircumventable.

    We don't need to blindly trust service providers to act in good faith. Protections happen seamlessly in the background of the apps we use, with no sacrifice in terms of convenience—so users may not even know they're using blockchain-based services. This infrastructure is open and verifiable, not a black box.

  • There’s greater access to open financial services

    No longer reserved for a select few, impactful financial services and access to wealth creation have been democratized. Decentralized and peer-to-peer alternatives to traditional financial service providers are user-friendly, secure, and open. Even low-income communities conventionally excluded from the financial system are able to participate and benefit.

  • Trade networks and economies are more representative and efficient

    The power of rent-seeking platform monopolies has been greatly reduced. Services that merely extract value from users without providing proportional value in return are largely a thing of the past.

    Disintermediated and community-owned alternatives provide greater value and freedom of choice without the need to exploit users. New classes of services made possible by Polkadot spark new markets and new possibilities.

  • We have reliable, open-source, peer-to-peer infrastructure for collaboration and communication

    Powerful new ways for people to collaborate without the need for central mediators lead to an explosion of innovation.

    With the help of stress-tested, decentralized economic models, the barrier to entry is significantly lower for both individuals and communities to launch and grow their own projects and businesses. People across the world can work together to solve pressing problems more efficiently and with less friction than ever before.

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To read the full article on the Polkadot Blog, click here

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Web3 Foundation
Web3 Foundation

Our mission is to nurture cutting-edge applications for decentralized web software protocols. Our passion is delivering Web 3.0, a decentralized and fair internet where users control their own data, identity and destiny.


Polkadot
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