As we move towards the era of artificial intelligence, data has become the new oil, and data ownership is becoming a huge concern. Blockchain is the technology that can potentially solve this problem, as it can truly democratise data, making it immutable and hence trustworthy. Blockchain promotes decentralization of data. There are many areas where blockchain can bring efficiency and solve the problem of trust.
Currently, the world’s data is getting centralized with companies like google, facebook, uber, amazon etc and while most us dont have a problem with this, some do. Possession of data is equivalent to possessing power in the age of artificial intelligence. With data dictating the actions of future humans and machines, many would promote decentralization of data, so that data cannot be manipulated to the advantage of a few. As we become global citizens, people would rather have their data managed collectively, as against by a particular nation or corporation.