'We will soon all have our own mini data center at home'

Will blockchain technology turn our society upside down as radically as double-entry bookkeeping did in the Middle Ages? According to Chief Data Officer and 'future researcher' Hans Timmerman, this is not a question but a fact. “We will soon all have our own mini data center at home.”

A blockchain consists of digital blocks of data that are linked together. Each 'block' contains encrypted information that is visible to all participants in the 'chain' and cannot be changed. This makes fraud a thing of the past, according to Timmerman. The engineer is a plenary speaker during the IT Infrastructure event, on November 16 in Den Bosch. With almost five decades of experience in the tech world, he has seen many technologies come and go blockchain according to the techno-optimist, will transform our society forever.

Double bookkeeping
“You can compare it with double-entry bookkeeping: what is entered on one side of the balance sheet must correspond with the data on the other side. This way of working was discovered in Italy in the fifteenth century and it meant a breakthrough for accounting worldwide. It was no longer the rulers who were lord and master of all transactions that took place: now ordinary citizens could also register property and change ownership.”

The financial prosperity of the golden age was partly due to double-entry bookkeeping. Timmerman foresees that blockchain will have a similar impact on the digital economy. “The exchange of digital assets and money can be recorded online through this technology. All participants in the blockchain have an identical copy of the data in their own 'block', so that there is never any ambiguity about ownership.” 

The gateway to Web 3.0
That opens blockchain the gateway to a new version of the internet: Web 3.0. To understand this, Timmerman takes us back in time. “It all started with Web 1.0, the era of static websites with one-way communication. You had links and pictures you could click on and that was it. At the end of the last century, Web 2.0 made its debut: websites became interactive and we could suddenly respond to content and create content ourselves. We showed up en masse social media and therefore became dependent on big tech giants such as Google, Facebook and Microsoft. The services these multinationals offer are free, but we do pay a price: ours privacy. The tech giants thrive by collecting and sometimes reselling our data.”

Technology giants gained more and more power and their cloud services became popular targets hackers. “A central one cloud is, just like a central bank vault, interesting for burglars. Of course, your personal wallet can also be stolen, but it yields much less and is therefore less attractive to thieves. The same goes for hackers and other cybercriminals. The greater the data traffic, the greater the loot,” says Timmerman. In recent years, criticism of the massive privacy violations of the tech giants has increased and lawsuit after lawsuit followed. Although the European Union is tightening its legislation, including through the Digital Services Act and the AI Act, enforcement remains difficult.

If we want more control over our data, we need to decentralize. And according to Timmerman, that is the core of Web 3.0. “Blockchain technology gives us control over our data again. In the 'chain' everyone has their own mini database with encrypted information. To access the database, you need a digital passport. This is your online identity with which you can prove that you are who you say you are. This is a major improvement from a cybersecurity point of view, but it is also safer and more efficient for you as a user because the agreements are encrypted and you can no longer lose them.”

Double spending is a thing of the past
Timmerman gives an example: “Suppose I sell something to you. You pay me with crypto coins and I record in the blockchain that what was mine is now yours. This includes a time and date and a bit of 'hashing' that records the transaction in an encrypted form. Now everyone in the chain can see that that transaction has taken place. Double spending is not possible, because I cannot sell it to someone else for a second time”

Timmerman is convinced that the blockchain In twenty years' time it will be as common as the mobile phone. “In a few years you can walk to the town hall and ask the official to register your digital identity. This contains your BSN number and name and address details, but you can also include your belongings, diplomas and so on in your wallet import."

No more login details required
Your digital identity is a code consisting of 24 special words in a unique order. Timmerman: “Compare it to a very long PIN code. It is important that you write down this code and put it in a physical safe, for example, because you need it to identify yourself online. Even when someone dies, it is important that surviving relatives know this code, otherwise they will not have access to the deceased's online assets. A digital passport is your digital identity and replaces all other login details, so we will no longer need usernames and passwords in the future.”

The data center landscape will function differently due to Web 3.0. Timmerman: “It will be a combination of local mini data centers, for example in your home or business, and the large data centers that we already know. Big data and AI require enormous data capacity that only large data centers can provide. That is why large-scale data centers will always remain important, but in addition, 'home data centers' or 'nano data centers' are on the rise.”

Future music
This is not far off, because many companies are already working on this. Timmerman: “Apple recently announced that the next generation of Apple watches all contain their own, local cloud environment. Sensitive information, for example medical data, can no longer be hacked from outside, because it is encrypted in a chip on your phone. Space X is also at the forefront of blockchain technology. Musk currently has tens of thousands of satellites in the sky, has the X platform, is going to release X tokens and his Teslas go to places where Google can't even go.”

Consciously ignorant
“You will only see it when you realize it, as Johan Cruijff once said. So I want to show my audience what time they live in and what developments are happening at the moment. The general public is always a bit behind. Just like in the early days of the internet, when many companies thought it was a new thing hype was it going to blow over again? But Web 3.0 is not a hype; it is the future of the internet. Many CEOs of companies are still unconsciously ignorant. What I hope to achieve with my lecture is that people will walk out of the room knowingly ignorant. When you realize that you are missing something important, you will look for information and you will no longer be ignorant. Then I have achieved my goal.”

Knowing more?
Are you curious about Hans Timmerman's lecture and would you like to know more about the opportunities and possibilities of blockchain technology? Register now for free for the presentation and the event via the event site.