Role of Blockchain in Knowledge Economy

Role of Blockchain in Knowledge Economy

Knowledge economy has its never ending role in defining the economy. Most of the modern economists and analysts during their research concluded that knowledge has a direct function towards the production.

The knowledge economies recognizes production as an important factor in defining “knowledge based economies”, which emphasizes on production, distribution and use of knowledge.

Growth of Knowledge Based Enterprises

Numerous online platforms such as LinkedIn have been trying to reduce the gap between producers, human workforce and economies. Bridging the gap between knowledge workers and prospective employers by allowing them to use the platform for connections is one such use case.

Such knowledge based enterprises have owned the segment in their own ways by making more revenue and solving the core problem by focusing on knowledge based economy.

Blockchain innovations in human capital

The knowledge based platforms face backlash for being little or least revenue generating platform. If not worst, the bad side of it being the user-generated content and information generated by such platforms are being sold to providers, advertisers, and recruiters without any verification. Users generated knowledge yet retain no ownership or share in the rewards.

The blockchain industry has been the first to identify such issues of unverified data. However, some problems are more persistent than others. For instance, how is knowledge qualified and quantified? A similar solution to curb such problem is being proposed by our Equateplatform, which in near future shall introduce new innovative ways to validate an individual’s knowledge.

The Role of Blockchain among users in controlling their knowledge

Blockchain based knowledge startups can make it easier for the typical user to regulate their own knowledge and even monetize it. Creating unique ecosystems is certainly one aspect of it but it faraway from the sole one.

Besides the lucrative monetization and rewards, the hidden advantage of an immutable blockchain is that it tracks the learning and records the knowledge validation which has far-reaching future implications for future generations of learners.

Having said that, such a public record on the knowledge of an individual which can’t be altered, knowledge producers are ready to retain ownership of their knowledge, while having the ability to supply tamper-proof evidence of their knowledge levels.

Evaluation in today’s world is a complicated process. Competing against others supported blockchain facts might not be the solution to everything but it’s surely a start to a more objective truth when it involves the acquisition of data and what comes after.

EQ8 Network is a decentralized data marketplace that rewards users for their attention, intellectual property and consensual data sharing.