The Internet of Value is BuzzBoard which is living on the blockchain promotional cycle. To know the effect of ‘Internet of value’, we first need to understand the meaning of the word ‘value’.
For example “Your support is of great value”
To enable ‘value transfer’, it is important that the subject under consideration has significance for 2 or more parties simultaneously. Also, as we are doing the transfer of value, “value” needs to be quantitative. Now we focus on the second part of the phrase – ‘Internet’.
The Internet was designed for information exchange. Therefore, the Internet protocol is designed only to identify the participant of the information exchange. There is no information about participant values. The protocol for “Internet of value” requires more than the identity of the participant. It requires the ability to understand what a participant “value” of this Internet is. For example, it may be a privacy rule that the participant must follow (GDPR) or its most frequent interactions (such as social groups, work groups, families, etc.) or different currencies of commerce.
To understand how this plays out in the real world, let’s take an example.
You and your friend go to a noise club and like everyone, both of you come to the club’s free wifi network. As it is through the evening, you are separated in the chaos of the club and can no longer find each other while heading out for dinner. You try your messaging application like “Whatsapp”, but the internet is not connecting, so you are left to look at your friend the old fashioned way.
Have you thought, while a very high-speed network infrastructure built by Wi-Fi connects your phone directly to your friend’s phone, your messaging application will run on the web and go to your WhatsApp server and then to your Will be back on the phone. To connect the two of you.
In the ‘Internet of Value’ world, your application will act as a node,
connecting to another peer node, regardless of what kind of network you take advantage of. Once it shows the application instance of your friend’s phone, it establishes a peer to peer connection. With identity and security being ensured, there is no need for the data to pass through a centralized server. Meanwhile if another instance of the application in Wi-Fi is able to connect to the WhatsApp server, it is automatically synchronizing all your communications to the WhatsApp infrastructure.
The protocol that enables “Internet of Value”
will be able to identify your friend’s WhatsApp instance. Once you try to message your friend, it will broadcast a “trace” on the web as well as the local Wi-Fi network to identify the footprint of your friend’s application. If it finds a match to your friend’s footprint on a Wi-Fi network, it will initiate a peer-to-peer connection.
In addition, the protocol will have the ability to recognize that messages that are happening on a Wi-Fi network have not yet been updated in the WhatsApp infrastructure. If any application within Wi-Fi is able to detect the instance, it has footprints of communication that do not coincide with what is seen on the infrastructure of WhatsApp, it will initiate a sync. In this way, WhatsApp infrastructure will be the sole source of the network as a catalyst as well as a partner.
This will have a profound impact on the communication infrastructure and drastically improve network performance without the need for any additional infrastructure. This can also give us an idea of how communications are currently designed, as most of our conversations are repetitive and with a limited number of participants, mostly spread across a limited geography.
This is one of many examples of how the ‘Internet of Value’ will affect our future. While security and new addresses are one reason for the adoption of IPV6 over IPV4, with the advent of blockchain, DLT and ‘Internet of Value’, these protocols are bound to change at a very fundamental level.