Google is one of the most active supporters of blockchain startups in the world. Since 2012, Google has made a numerous equity investments in the blockchain sector. This begs the question, why hasn't Google created or added blockchain to its search functions?
Google has monopolized the search market and now controls nearly 80% of landline and 95% of mobile search traffic. The company has an extremely influential role in shaping the direction of our internet economy.
However, many believe that such a significant role should not be assigned to one company.
The original purpose of the web and internet, if you recall, was to build a common neutral network in which everyone can participate equally for the betterment of humanity.
So now we have Skype from Microsoft, Facetime from Apple, and Google with Duo. Each big company has its equivalent service, each stuck in its own bubble. These services may be great, but they aren’t exactly what we imagined during the dream years when the internet was being built.
- Matthew Hodgson, Tech Crunch 2016
The conglomerates mentioned by Hodgson have taken over the digital world. They control access to our most sensitive data.
However, Hodgson continues to argue that “a new movement is emerging that has the potential to bring the Internet back to its original vision. It is called the Decentralized Web or Web 3.0, and describes a new trend towards creating services on the Internet that do not depend on anyone 'central' organization."
There are several security and efficiency benefits of using a blockchain-based distributed storage system that centralized data warehouses cannot compete with.
The decentralized internet is inevitably becoming a reality. Emerging blockchain startups are beginning to realize the full potential of the distributed economy as they create the various components of this new decentralized ecosystem.
Presearch is one of them. The company is developing an open, decentralized search engine that "rewards community members with inquirer tokens for their use, contributions, and platform promotion."
Unlike Google, Presearch's decentralized search model use "open and transparent ranking factors that allow content creators to access equal playing fields and give users a choice of what data will be used." A project of this magnitude promises to revolutionize the search market.
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