Breaking Down Cryptocosm: Why Is It So Important?

    Looking back just a few years, our go-to markets included places like Walmart, the super-shop that contains everything you can imagine. That was the case until the rise of the internet and sites such as Amazon appeared.

    Currently, Amazon is known as one of the world’s largest companies, with a net worth figure that goes into the trillions.

    What caused this drastic change? As the market and technology change, so do trends. Similarly, according to George Gilder, the world might adapt to cryptocosm, and the trends we know will entirely shift.

    Here is a glimpse of what exactly cryptocosm is and why it is so important.

    What is Cryptocosm?

    George Gilder coins the terms “cryptocosm” first in his book. The networks powered by blockchains are called the cryptocosm. To put it in simpler terms, the key focus of cryptocosm is to prioritize security.

    This is why figures such as Gilder believe in it; current systems, such as Google and Facebook, lack the promise of security we could potentially get from cryptocosms.

    If you are still wondering what to think about the cryptocosms, the prediction on BizReviewed’s blog lays it all out clearly.

    With all that said, you still might be wondering why you should care about it. Well, the cryptocosm also helps make up for the gaps in the internet system left to make secure transactions.

    A Glimpse into the Ten Laws of Cryptocosm

    Gilder breaks down the benefits of cryptocosm for users by comparing them to Google’s famous “ten things,” or their philosophy behind their technology. Let’s take a quick look at those. 

    1. Cryptocosm focuses on its users’ experiences by focusing on their security.
    2. Cryptocosm boosts its users by removing the prior barrier of security so they can do their best without having to worry about such restrictions.

    III.  Human growth is where the priority of cryptocosm lies. Where Google might run crazy and digitalize things before humans can comprehend them, cryptocosm focuses on people.

    1. This system also believes in the distribution of power. Each network is its own branch that does not have to follow a chain of hierarchy.

    Blockchains with distributed power can stand on their own, which is why they do not need to worry about things such as voting and democracy.

    1. Next, cryptocosm does not only believe in the fact that your geographical location should not affect your access to knowledge. It can also stop ads from getting in the way.
    2. As cryptocosm prioritizes your security, it also believes in making systems where the final result can’t be evil.

    VII. Furthermore, cryptocosms strongly stand by the fact that information should be owned by its creators, thus, information is not free.

    VIII. As much as we would like to spread information, situations will arrive where you will feel the importance of keeping information restricted to you and your device.

    As cryptocosm believes in the safety and security of your information, it does not vouch for the notion of the spread of information throughout the world. Your information stays with you.

    1. Cryptocosm believes that you should feel comfortable enough while taking part in transactions. That is why you will be allowed to buy and sell services without giving up your personal information.
    2. The last tenant of cryptocosm focuses on the excellence of its users. As it is the whole foundation of secure internet transactions, it allows its users to work to their greatest ability.

    Benefits of Cryptocosm

    Looking at the laws or philosophies of cryptocosm, there are a few definite benefits the users can gain from it.

    I. Importance of Privacy

    If you take a look at a service like Google, you will notice how everything comes at a price, even if the price is the security of your information.

    Cryptocosm allows its users to have their own private keys, which are like their personal signature.

    To put the whole ordeal simply, buyers and sellers are able to make transactions, using their own digital signatures as confirmation, so there is limited opportunity for fraudulent cases to surface. Even if they do, there is always the solid proof of the private keys.

    II. Less Opportunity for Fraudulent Cases

    One of the best benefits of blockchain’s systems is that the shared ledgers for transactions only update when both buyers and sellers confirm a transaction.

    Cryptocosm also makes it harder for users to change their personal information without the consent of the other party, which helps reduce the chance for fraud.

    This system helps buyers and sellers work at ease.

    III. Distribution System

    Fraud and security risks are the least of the worries of third parties in a transaction. Cryptocosm eliminates the need for third parties through its distribution system. As security is ensured, you do not need another person to check out whether a deal you have come across is real or a scam.

    This reduces the time it takes for transactions as there are fewer people interfering with communication with a buyer or seller. You can speak directly with your client or seller.

    This also reduces your operational costs as you do not need to pay a third party for their services anymore.

    IV. A Secure System on the Internet

    One of the biggest drawbacks of the current system is the lack of security of information.

    Cryptocosm makes life a lot harder for hackers trying to steal your data with its decentralized system and, thus, makes sure your information is safe.

    Final Thoughts

    The benefits of a world welcoming cryptocosm are endless, and buyers and sellers will finally be able to let out a sigh of relief since they do not have to worry about people trying to scam them.

    Cryptocosm allows us to further believe in a world advancing through technology as it provides the users the security we desperately need in order for change to happen.

    As Gilder says, with the rise of blockchains and cryptocosm, we need to get ready to see a life after Google.

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