EDJX: The Rise of the Decentralized Platform Economy
Today Microsoft, Apple, Amazon, and Alphabet (Google) are the four largest public companies in the world, each valued at over $1 trillion. Facebook and Alibaba are number five and number six. Not until the seventh spot does a non-tech company appear (Warren Buffett’s Berkshire Hathaway).
How did so many technology companies rise to become the most valuable in the world? The digital platform economy.
By definition, platform economy companies eliminate trade barriers between consumers and producers, often disrupting traditional business models. Uber, Airbnb and Netflix are great examples of the digital platform economy. Many significant tech innovations have contributed to this (see: the Internet), but recent innovations including powerful mobile phones and cloud computing have enabled the spread of the digital platform economy, with no end in sight.
There is no doubt that the rise of the platform economy has had a significant impact on our daily lives. This includes a more open economy, information sharing, and new opportunities.
But a number of legitimate concerns have been raised. The centralization and power amassed via data collection has demonstrated that centralized platforms often lack stewardship; data security and misuse fines are now an expense line item.
From abusive ad practices, regular antitrust claims, election interference, privacy violations, and a sprawling list of consumer data breaches, these platform companies continue to lose public trust. To date, tens of billions of user accounts have been compromised— and counting.
How did so many technology companies rise to become the most valuable in the world? The digital platform economy.
By definition, platform economy companies eliminate trade barriers between consumers and producers, often disrupting traditional business models. Uber, Airbnb and Netflix are great examples of the digital platform economy. Many significant tech innovations have contributed to this (see: the Internet), but recent innovations including powerful mobile phones and cloud computing have enabled the spread of the digital platform economy, with no end in sight.
There is no doubt that the rise of the platform economy has had a significant impact on our daily lives. This includes a more open economy, information sharing, and new opportunities.
But a number of legitimate concerns have been raised. The centralization and power amassed via data collection has demonstrated that centralized platforms often lack stewardship; data security and misuse fines are now an expense line item.
From abusive ad practices, regular antitrust claims, election interference, privacy violations, and a sprawling list of consumer data breaches, these platform companies continue to lose public trust. To date, tens of billions of user accounts have been compromised— and counting.
Re-Democratizing Our Computing Infrastructure
EDJX has set out to build the world’s largest decentralized edge computing platform for next generation applications.
As IoT inventions integrate into our environments, developers will rely on edge computing to deliver ultra-low latency, high performance applications at planet scale, along with robust security and privacy controls.
At EDJX, we believe that centralized platforms are no longer equipped for the same success for two major reasons:
As IoT inventions integrate into our environments, developers will rely on edge computing to deliver ultra-low latency, high performance applications at planet scale, along with robust security and privacy controls.
At EDJX, we believe that centralized platforms are no longer equipped for the same success for two major reasons:
- Humanity is moving from the information age (spawned by the World Wide Web) and is embracing the age of experience, which will require edge computing.
- Business models often depend on information to generate revenue, which may not be shared in a decentralized P2P (peer to peer) platform economy.
- Developers are disenchanted with many major platform companies for a number of reasons, including:
a) Mandatory government surveillance cooperation;
b) Reckless use of information;
c) Lack of ownership for control failures. - There is clear evidence that leadership philosophy on business models may not adapt. For example, Facebook is trying to create a “decentralized” digital currency, yet their only service offering is their wholly-owned “Calibra” wallet— an application similar to a bank account where centralized transaction data will reside (and generate revenue).
- Truly edge for faster performance. Because we can leverage server positioning in locations that large public companies can’t use for giant data farms, our platform is ultra-low latency and delivers higher performance for next-gen applications.
- Community hosted. Anyone can host an EDJpod server and monetize the cloud.
- More secure. Distributed ledger creates an immutable record of your code execution, proving that your code is actually yours.
- Automation of contracts and payments using smart contract logic.
- Faster code execution. There’s no need to spend time orchestrating containers, so development is expedited.
- Lower cost due to the ability to execute functions on different hardware architectures, such as ARM.
Learn how easy it is to get started with EDJX.
Footnotes
- 2020-01-30. “Samsung in the ‘Age of Experience”. CES 2020. https://news.samsung.com/us/samsung-age-of-experience-hs-kim-ces2020/ and https://www.cio.com/article/3282149/what-it-means-to-do-business-in-the-age-of-experience.html