Data is oil

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We can't just stop imagining what the future holds pertaining to data and even the global economy. As assumed by many, data is the new or next oil
as the case may be. I never imagined this, did you? A man once said, 'he who discovers oil is settled for life'. We shouldn't doubts, we have seen how it has transformed the Arab nations. These Arab Princes that soak themselves in oil wells are way richer than what our calculators predict. We've heard of such wealth from the TOP rich man from Brazil. Oil is very essential, we have seen it draw many suitors to Nigeria although its government have not been able to leverage this opportunity for the country's global economic expansion.

The history of oil (crude oil) to be more direct spans for thousands of years dating back from 3000 BC - 500 AD. This was the reign of ancient civilizations (Egypt, Mesopotamia and China) and was used even at that time for diverse purposes ranging from medicinal, heating, lighting, lubrication, waterproofing and others. We can from here see the efficiency of oil. The growth moved into the middle age and was adopted into military use; something the ancient Greek used for Greek fire, you can tell its achievement if you are a good history students. The industrial revolution of crude oil between 1500 - 1800AD paved way for increased adoption into transportation, textile manufacturing and the likes.

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A little further into the 20th century its adoption increased further as it was a necessary elements during the world wars (military fuel). This seemed to be an eye opener as it brought in global economic activities. Before one could tell, politics set in and several conflicts emerged, everyone (perhaps every government) needed control. This is what happens when eyes become clear. Fast forward to our modern days and you can say a lot yourself. Oil has met technology and the duo has brought substantial achievement to the global economy. I had to take time to revisit this history because this is the same process data is undertaking.

Is there still a future for oil? Of course, while many predict the introduction of renewable energy will disrupt the oil sector massively, one needs to understand the ethics. Yes, we are seeing solar powered cars like the one from Tesla. Nevertheless, there still remains an unending future for oil. In short, what we fail to realize is that oil is even changing state. Personally, I will say renewable energy has been another state of oil, it's one of those flywheel advancement thanks to technology. You have to admit, anything that powers up a broader system is oil, it has always remained an efficient lubricator.

The oil industry is continuing to revolutionize, this is something worth the attention of many. A lot missed the benefit from oil wells (crowded by governments), others are unable to benefit from renewable energy (maybe due to high set up cost) yet we have to ponder on this its next phase more effectively. Just as I earlier said, data is taking that same oil process yet we need to answer the question of 'where will it end up again?', the government, ultimate investors or the entire people to ponder?. Looking at the flexible nature of data, the growth will even be far rapid than that of crude. One would need a lot of structures and man power to establish the oil business, yet data can be fetched at ease. Ask Google, meta and X, the people just keep adding.

We shouldn't miss again

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The next phase of oil is data, you can read this over and over. So why are the masses taking an uncaring look at the entire process. Be it ignorance or unawareness, the bite back effect will be difficult to recover. Where is data tilting to? Big tech industries are doing their best to become full time custodian of the entire 'oil data' processes. If they do, I see this billionaires turning trillionaires with ease. I am not against anyone's progress yet the fact remains that those who spent their entire years feeding this system will go home empty or settling for crumbs. This is the idea centering the web2 system; creating a closed canon system that a few bodies will enjoy the wealth from data.

One article may not be able to summarize this yet I will continue to ponder on the need for web3 adoption. It's an opportunity for the masses, if not actually ALL, a substantial percentage to crawl out of an underdeveloped stage. You don't need much structures, you need to switch platforms and store data where you will access without restrictions. Machine feeding is another big thing that the data oil is being stored, it more of oil drums or reserve so during the days of data scarcity, prices will skyrocket. We are not still seeing this entire process, tech is bringing a life changing opportunities and it is worth our preparedness.

To conclude, let me add, since the full inception of Internet in the early 2000's we have seen an unending growth. Just as crude oil took baby steps before emerging so also is data. The difference here is that 'data oil' is moving in a very fast pace thanks to its flexible nature. From web1 to web2, we saw its benefits. Nevertheless, I wouldn't advise we settle data in the web2 platform if we want to ascertain fairness, a shift to web3 will be just fine. It's easy to say, you know these web2 owners will not give up without a fight especially with so many power houses behind their every move.

Posted Using InLeo Alpha