Last Updated on
Giving the morning keynote speech on May 23 at the Consensus 2017 Conference in New York, Muneeb Ali and Ryan Shea, co-founders of the blockchain startup Blockstack, announced the readiness of the developer edition of their Blockstack browser.
New York-headquartered Blockstack is a bitcoin blockchain-based browser that seeks to create a new decentralized Internet. As things stand, information and data on the Internet is neither owned nor controlled by the users or clients but is in fact owned by large corporations who facilitate Internet access. Large corporations also own applications as data is stored in the application and, therefore, is belonging to the creator of the application. Applications can also sometimes override or ignore the limitations set on it by the user and have access to more than the user would like.
Along with the privacy issue, the Internet of today is not very secure as data is stored in large servers which if infiltrated compromise the security of all the data stored therein. Also, certificate authorities are not always trustworthy.
“With traditional apps, a secure connection is far from a certainty. Domain names and website certificates are vulnerable to compromise. Reliance on third-party servers and many trusted services makes us less safe,” Blockstack explains.
It is these inadequacies in today’s Internet that Blockstack seeks to remedy. “Data storage is simple and reliable and uses existing cloud infrastructure. Users connect with their Dropbox, Google Drive, etc. and data is synced from their local device up to the cloud. Identity is user-controlled and utilizes the blockchain for secure management of keys, devices, and usernames. When users log in with apps, they are anonymous by default and use an app-specific key, but their full identity can be revealed and proven at any time. Keys are for signing and encryption and can be