written by
Ragul Kumar

Web3 and Blockchain inclusion for the next billion

Cryptocurrency sustainability KandolaNetwork blockchain Transparancy Conensus algorithm web3 Decentralization 4 min read

~ Gul, Kandola Network

WHY blockchain inclusion for the billions?

What does it mean to bring Blockchain inclusion for the billions?

Kandola Network bringing Web3 and Blockchain to the Masses

Imagine you have something extremely powerful in your hands, something that has the potential to transform people's lives so profoundly that you can’t help but share it with the rest of the world.

Just like the PC revolution (personal computers in every home) which altered our perception and use of consumer technology. Like the dial-up modems that connected everyone to the world. Like the introduction of broadband and consumer Internet gave everyone instant access to a global knowledge base and market place.

I feel exactly the same way about blockchains and the impact it will have on everyday life on this planet. Blockchain is neither synonymous with cryptocurrency nor limited to finance. Blockchains are completely free. Blockchains, innately by its structure, makes the data you save on them immutable - unchangeable for life. Because no one can ever change the data on a blockchain, everyone can trust the data stored on it. Consider the application of this innate trust - you can be absolutely certain that,

  • The food on your plate is indeed safe
  • The products you buy are sourced and produced sustainably and responsibly
  • Every dollar you donate to alleviate poverty indeed reaches those in need
  • Every pill you swallow is not counterfeit
  • Every penny of your tax money is put to good use

The list goes on and on, positively impacting every individual and business. However, let’s up the ante and imagine that such a blockchain-based data store is not owned or controlled by a single entity, but is instead distributed amongst you, me and everyone. Then, a chosen few cannot govern, control, censor, monetize or monopolize data. When data is decentralized in this manner, it becomes truly YOUR data, and you decide who gets access to it and what you do with it. This is the polar opposite of how the Internet works today, where giant corporations collect, store, own and process your data in order to monetize it. Even worse, this results in reactive policymaking, such as the GDPR and CaCPA, which grants you the right to request YOUR OWN data from these corporations. If it were YOUR data from the start, shouldn't it be these corporations that request YOUR data, not the other way around?

Web3 is the next Web, this new paradigm Internet in which the Internet itself is owned by you and me, of and for the people. Web3 is the Internet that is powered by decentralized, distributed blockchains that will change and positively impact every aspect of existence. However, the Web3 industry today has taken a much narrower, microscopic view of applying this powerful paradigm, limiting it to finance, entertainment and copyrights (DeFi, Games and NFTs). To make matters worse, the current Web3 experience is error-prone, clunky, slow, and, in fact, aiding and abetting crime.

We at Kandola believe that we must right the wrongs and bring Web3 and Blockchains to the people in its original form and intent. So everyone can benefit from the inherent value propositions of blockchains and decentralization. Make blockchains accessible to the masses in a safe, simple, and usable manner - that is, make blockchains realtime and applicable to all domains.

No one would have connected to the Internet if modems and their electronic circuitry were thrust in our faces. Modems were instead presented in a usable form - plug-in to an electric socket and a telephone line, dial here. Broadband made this process even more transparent and quick. Similarly, we cannot expect the billions to adopt blockchains if it remains narrow, complex and slow.

Bottom line, in order for Blockchains and Web3 to reach and assist billions, we must make blockchains and applications:

  • Applicable to all industries and domains (get beyond the current confines of DeFi, Games and NFT - who ever drew this line around a technology that has no boundaries?)
  • Realtime (blazingly fast, instant responses = instant gratification. Who waits for 59 minutes for a block?)
  • Safe to use (nobody will use it if one can accidentally send money to the wrong address or if their wallets can be picked)
  • Simple and usable (no more clunky experiences with 10 different steps to follow in 20 different systems that are not interoperable - there is no way that anyone, leave alone my mom, would do this)

Internalizing these four pillars, Kandola Network has invented a brand new protocol and consensus algorithm called the Proof of Real-time Transfer (aka PoRT) and is bringing the world one step closer to this dream.

Instead of just exchanging crypto currency, PoRT is designed to exchange generic industry agnostic data, allowing anyone and everyone to participate without boundaries and limitations.

PoRT has been proven to scale to a million transactions per second on commodity hardware, making it a realtime algorithm without compromising decentralization.

The protocol ensures that from and to addresses are valid and that the data exchanged is private and secure. The protocol is built on the sound and secure principles of every participant and entity having their own decentralized self sovereign identity, thereby making the entire ecosystem a safer place to conduct business and play in.

We are re-thinking and re-imagining every Web3 experience there is for every actor of the system to ensure that the entire ecosystem is simple, easy to use (without a manual) and blazingly fast.

Join us at Kandola Network, work together, to bring this change to the billions - us!

blockchain web3 fast-finality secure Privacy-by-design mass adoption blockchain for the next billion