The Internet connects people, resources and activities. It facilitates the exchange of information and supports the cooperative work of writers, editors, lawyers, doctors, educators/teachers, managers, analysts, engineers and others.
The adoption of a system based on the decentralized knowledge discovery framework would have significant and positive social impacts. Consider the following aspects: improved collaboration, ease of knowing how the collaboration is progressing, and security.
Thus a system for decentralized knowledge discovery provides services for secure data exchange, based on rigid access-control policies, adopts cryptography techniques when data is moved through the Internet, and keeps track of all accesses to the data performed by contributors. These are not trivial legal and technical issues, but work as a catalyst in the provision of effective knowledge-sharing collaboration through a decentralized knowledge database.
The term “knowledge economy” was coined by the Organization for Economic Cooperation and Development (OECD) in a 1996 report. The term describes the emergence of economies based on the production, distribution and use of knowledge and information.
By comparison, the economy of the 20th century relied predominantly on the sale of raw resources, commodities and primary processing to generate income and wealth. The key commodity in the knowledge economy, by contrast, is “knowledge” and its use to create new products and services.
Characteristic of the knowledge economy are “man-made brainpower industries” where there is rapid development, and the subsequent merging of new information and communication technologies, creating a global inter-connected economy.
In this global economy, time and distance are compressed through advances in information communication technologies and travel, leading to the intertwining of the world’s economic and cultural systems, in a process known as globalization.
Globalization has been defined as “a set of economic, social, technological, political as well as cultural structures and processes arising from the changing character of the production, consumption and trade of goods and assets that comprise the base of the international political economy.”
Globalization is one of many phenomena within the knowledge economy, and is the result of a larger building process of a world markets that started when mankind first began exploring the world by land and sea expeditions.
An effect of globalization is an increasing structural differentiation of such goods and assets, having spread across traditional political borders and economic sectors, resulting in a greater influence of political and economic changes.
Technological advancement will certainly destroy many jobs, but at the same time will create many new and as yet unknown employment opportunities, changing dramatically the balance of skill requirements
The characteristics of the average worker in Western economies, for example, and the nature of work itself have changed enormously over the past few decades. Part-time, temporary and casual work, coupled with an upward trend in unemployment and the widening earning dispersion has become the norm in the job market, while privatization, deregulation and downsizing of public services, and more and more pressure on business to increase productivity has been characteristic of the workplace.
Advances in various technologies have had and will continue to have an impact on the labor market. Thus technological advancement will certainly destroy many jobs, but at the same time will create many new and as yet unknown employment opportunities, changing dramatically the balance of skill requirements.
The skill elements referred to are those that place great importance on the diffusion and use of information and knowledge as well as its creation. This skill-base, it is argued, will allow incumbents to gather and utilize knowledge, where strategic know-how and competence are developed interactively and shared within sub-groups and networks.
Continual creative innovation and knowledge-sharing contributions will be driven by a decentralized knowledge database that rewards contributors with monetary gains and compensation in the form of tokens for peer-reviewing and contributing information.
This system will be the starting point of the Internet for finding reliable, accurate information.
As a practicing international and fintech (financial technology) lawyer, I sense the global long-term vision to develop a knowledge base application programming interface (API) that developers can use to create next generation decentralized applications in artificial intelligence, virtual reality, augmented reality and much more.
By reading the demands and vision of Asian civil societies such as Suaram and Asian statesmen such as Mahathir Mohamed, anyone will sense that the direction toward a decentralized knowledge database and economy leads to just, equitable and democratic knowledge-sharing solutions that reward contributors.
Many around the world are excited at the existence of the Lunyr (pronounced like Lunar) platform design that aligns each individual’s rational economic behavior with benefits to the whole ecosystem and its commitment toward ensuring the security of its platform.
The Global Decentralization of Knowledge Database and Economy is truly the People’s Platform for a brighter future – one that is just, equitable and democratic.