Most people can describe the internet with a basic description of cloud computing even though they don’t really understand how it provides a vast platform for users worldwide. What they may not realize is that a small group of tech companies have control over the functionality, content and data on the internet. But Dfinity USA is aiming to change all of that with the creation of a decentralized Internet Computer (ICP) supported by blockchain technology.
Dfinity USA has dreamed up the concept of an internet that runs a secure computing platform with servers around the world. Dfinity’s Foundation’s mission is to develop the technology that will support the Internet Computer using blockchain technology instead of cloud computing. By utilizing the first public blockchain run on “smart contracts,” Dfinity’s ICP will have a much larger capacity than the current cloud technology.
Who Runs the ICP
This new blockchain technology is created and managed by a community of investors, independent node providers as well as crypto enthusiasts. Dfinity’s concept is that of decentralized governance for the ICP.
Internet Computer for the Future
One of the defining abilities of the ICP concept is that it will provide a platform for internet businesses to use that is open to everyone without having to rely on another enterprise. ICP will effectively remove the need for businesses like eBay or Facebook which currently dominate their niches and make it impossible for smaller companies to compete. The cloud computing industry is expected to reach $1trillion in the next few years, but Dfinity’s funding has already topped $101million in its initial push. With Dfinity’s 2020 roadmap announced in 2020, the digital giant is poised to use its $200million fund to encourage developers to join them in their quest to change the way everyone accesses the internet.