What does it mean to own your digital data?

The Internet today is an amazing tool that facilitates a global network of communication and connection. Due to our dependence on this resource however, most of our data now exists solely on the Web. Books, movies, music, and more importantly our financial systems, are now dependent on the Internet to be accessible.

The concept of digital data that does not exist in a physical form is still relatively new. The task of data storage has been given to large corporations that build massive server farms that are responsible for holding a majority of the Internet’s contents.

As a result, a key issue with the Internet is:

Digital asset ownership has never been properly addressed, leading to large corporations essentially owning almost all personal and transactional data that exists online.

Throughout the last couple of decades, users have given up more and more control of their digital data. Cloud-based data storage services such as OneDrive, iCloud, and Google Drive let users utilize their servers as a means of storing their files, and many people do so without realizing that these companies now have full control over all those files.

Companies like Amazon, Microsoft, and Google are able to collect, store, and monetize data without giving users truly unrestricted access to their information. Users then have limited visibility and control over how their data is stored and used within these companies, where they have no way to concretely prove that:

• Their data is being held in a secure and encrypted manner
• Any personal information is deleted after being verified
• Their data isn’t being sold to third party buyers

Instead of entirely owning your digital data, you now have to pay for subscriptions to these services to even access your files. We are moving away from an economy that buys ownership and towards one that only buys access to digital goods.

Consumers today have sacrificed the right to ownership for the sake of convenience. Big tech has made data access and storage so convenient that no one seems to notice this trend. As we move further into the digital age, it will only get worse.

What can be done to prevent this issue from getting any worse?

Enter - Blockchain.

Blockchain is a decentralized database that offers an innovative solution to this issue - removing trust. In today’s Internet age, our relationships with our digital assets are based on the trust that providers will make our digital assets available and accessible to us at anytime. Instead of owning all of our data, we simply trust it will be there when we log onto our devices.

Blockchain removes the need for trust by creating a completely automated and trustless system.

This trustless system allows users to maintain full and independent control over all of their digital assets without any worry that their access to their assets will be restricted in any way.

Using this trustless behavior, blockchain will revolutionize the way we use and interact with all types of digital assets. From media to real estate, stocks, and currency, blockchain is a true paradigm shift of the Internet Age.

What will this course teach you?

This course serves as a high level introduction to the blockchain ecosystem. It will cover:

• The basic mechanics of a blockchain database, how it operates, and how new transactions are created
• How digital identity works on blockchain and how digital assets are stored within this system
• How cryptocurrency operates and why it’s so secure and effective compared to fiat currencies
• An introduction to Decentralized Finance (DeFi) and how it differs from traditional financial systems
• Important aspects of blockchain infrastructure including scalability and data storage mechanisms
• Useful tools for viewing onchain activity and tracking various metrics
• Current and future use cases for blockchain within various industries and services

The course is meant to be beginner friendly and to familiarize you with the potential of blockchain technology. Each section contains tons of different examples that are meant to showcase practical blockchain use, as well as contains links to external readings and resources for further and more in-depth explanations.