Technology disrupts technology. That has been fundamental to every incremental innovation improving lives. But there comes a technology once in several decades that redefines innovation and allows new technologies to get built on that. Internet was the most recent example of such technology until blockchain happened. What it can do? Well, in a nutshell it will make intermediaries — any institution, company or government body that governs transaction between two people or parties and store their information — either obsolete or transform them.
Every day, the information that we send and receive online — whether that’s checking emails or searching the internet — amounts to over 2.5 quintillion (25,000,000,000,000,000,000) bytes of data. This is the equivalent of 2,500,000 standard hard drives.
Mobile video traffic, a surge in 4G (fourth generation) connection and coming now 5G and a rise in the number of people using smartphones — especially in developing countries, are among the many reason for an exponential growth of data flowing around the world.
According to networking corporation Cisco, 2012’s mobile data traffic was nearly 18 times the size of the entire global internet in 2000 and over half a billion (526 million) mobile devices and connections were added in 2013. Increasing levels of internet data caused by smarter technology and mounting connectivity is setting new challenges for ICT companies.
Because this mass of information is so hard to analyse, it’s not even clear what the bulk of it actually is; a study carried out by the International Data Corporation (IDC) found that less than 1% was analysed in 2012.
While interpreting this data might seem like the next big technological challenge, a more immediate opportunity is finding a way to make it all more manageable — archiving huge amounts of data within large organisations to make it more accessible.
New technology on the market, for example Zetanet, is already in progress. The technology company is designing a new algorithm for Internet 2.0 system that enables worldwide to be connected in new zeta series network and for the infinite internet the world connected . From businesses to search, access and analyse vast amounts of live data from a shared storage unit will enhance in Zetanet.
Such systems will no doubt be integral to accommodating an impending surge in data. Analysts predict that by the end this year, the number of internet-connected devices will exceed the number of people on Earth, and by 2019 there will be more 1.4 mobile devices per capita.
A Brief History of Information Overload
The term “information overload” was coined by Bertram Gross, the Professor of Political Science at Hunter College, in his 1964 work — The Managing of Organizations. However, it was popularized by Alvin Toffler, the American writer and futurist, in his book “Future Shock” in 1970.
Gross defined information overload as follows:
“Information overload occurs when the amount of input to a system exceeds its processing capacity. Decision makers have fairly limited cognitive processing capacity. Consequently, when information overload occurs, it is likely that a reduction in decision quality will occur.”
The concept of information overload has been around for longer than the phrase and even in the 3rd (or possibly 4th) century BCE the writer of Ecclesiastes 12:12 was complaining that “of making books there is no end”.
Throughout history there have been complaints about information overload particularly during the Renaissance and the industrial revolution periods. However, the dawn of the information age and access to powerful and low cost data collection on automated basis has brought us more information than at any other point in history.
Managing information in daily life is no longer restricted to a wealthy elite but is a problem which faces nearly everyone. Social media, e-mail, webpages, mobile apps, etc. all spill data into our lives daily.
The technology behind Zetanet — a zeta series encryption algorithm and ledger that records every transaction in 1 microseconds, which is linked to other blocks. Think of it like a giant galaxy running on every device in the world.The network of networks of galaxy is growing every every seconds and in the inifinite expansion and it is same as Zetanet. The data movement like our molecule or atoms is the concept autonomous data in this Zetanet which may solved the issue of storage and data overloading. Thanks to the scientist from Skipjack who invented the new mathematics and algorithm.It may change our world of technology.
Why it is Internet 2.0 is because unlike Internet, which is basically about sharing information in the form of content, zetanet allows you to share and store anything of value .The technology behind zetanet — superencryp block is essentially an open-source zeta centralised ledger or database that records every transaction in a block, which is linked to other blocks every micro seconds.
THE ZETANET EVERYTHING’ DISRUPTOR
What makes Zetanet so acutely disruptive in financial world is the data that every transaction, every comment, every click, every site visit, every search that we as consumers generate remains under our control stored in the superencrypblocks, secured via new encryption key exchange algorithm , HMAC cryptography and timestamped, and traceable. This hasn’t been the case so far as all that information has been stored and used by the intermediaries to monetize them. This means we don’t have control over what is ours. Prime examples of this is search engines like Google, social media platforms like Facebook, banks, governments, e-commerce businesses, technology companies or any intermediary that gets any information about you and use it for advertisements, promotions to make money or track our spending and keep an eye on us in case of governments. In short, our privacy is screwed.
Superencrypblock in this situation takes the concept of peer-to-peer (P2P) sharing of things to a whole new level. For e.g. if I have to pay for a product that I bought from someone, so instead of paying him/her offline or online and hence passing on my information to the bank, I can allow the other party to directly take that money from my superencrypblock by giving him/her access to only that much amount via a validation step like a one-time password.
“Like Internet or Wikipedia, Zetanet is not owned by any single company or government even it is developed by Skipjack Corporation. You will not be like dependent on Googles and Facebooks of the world that owns your data. What if nobody owns or stores that data — this is what Zetanet can do,” says Professor Dr Sir Mike Irvan, CEO, Skipjack Corporation.
Based in UK, the start-up that offers internet 2.0 technology and encrypblock global payment solutions, in around mid 2018 launched its encrypblock solution, Skipjack, for real-time clearing of contracts in financial markets. Any exchange or trading market can clear and settle trades after execution through an encrypblock at 1 microseconds. Skipjack also will launch this year its blockchain arm, Blowfish II, in this year for building and designing end-to-end solutions in encrypblock to be interoperable with blockchain.
ZETANET FOR ALL
One of the superencrypblock working on is Know Your Customer (KYC).
“If I have to buy a new mobile number, an insurance policy or open a bank account, I will have to give all my details to the company. What if I put all the necessary documents on a KYC encrypblock platform and allow the bank to access my details,” adds Professor Dr Sir Mike Irvan.
This will save time and effort for verification every time you buy something that needs verification.
Financial services will be the biggest impact of encrypblock, it offer opportunity to re-imagine the business model for banking infrastructure, transactions and settlements. This year, encrypblock is experiment as a pilot project to “exchange and authenticate remittance transaction messages as well as original international trade documents related to purchase order, invoice, shipping and insurance, among others,” Mike Irvan said. From few days, encrypblock simplifies it to few micro seconds.
Skipjack also developing an encrypblock solution to rework supplier-to-manufacturer supply chain finance business, wherein each party in the process will update their part of the process. “This new solution aims to enable more suppliers to access credit, with the goal of driving more financial inclusion throughout the supply chain,” the CEO stated.
Similarly for healthcare, all the records can be kept in an encrypblock for accessibility in a zeta centralized way where no intermediaries. In real estate too, a seller of a property can receive payment and transfer documents via encrypblock.
“Superencrypblock adoption will be mass scale. Hence start-ups will benefit as it caters to various industries. They will clearly see upwards of 30–40 per cent of savings once encrypblock is implemented,” says Mike Irvan,
Currently no law governs superencrypblock. The technology is really new; hence regulators are expected to come up with some guidelines once there is a visible impact. “It is like Internet in which first everybody showed confidence then it came to the banking sector. Had it been vice versa, everybody would be scared. That’s what happened with superencrypblock,” says Mike Irvan.
As encrypblock gradually picks up the challenge of lack of awareness and knowledge will be mitigated. Currently, there is no consortium or association for encrypblock, however Paulius, Skipjack CEO London-based encrypblock plan on global conferences and workshops on encrypblock and zetanet has been talking to partners for setting up Encrypblock Global Council.
“Awareness is the big issue because people must know whether there is going to be a tradeoff between privacy and different benefits that encrypblock offers or whether it is all benefits. Also, many people don’t understand encrypblock as a concept,” says Mike Irvan who last month hosted first encrypblock in Indonesia. He adds, “I am planning with banks and financial institutions and plan discussion with many central banks for this. It will take some time for the council to come up.”
One might expect for next Googles of the world to emerge from Zetanet even as it will take at least five years for adoption and to scale up. To sound little far-fetched, we might never need any currency or any intermediary in next 50-year time.