As CEOs of Google, Apple, Facebook, and Amazon set to testify, blockchain companies describe the approach in building distributed systems as a new chance at the Internet as it was originally imagined and specifically target these ‘Big Tech’ firms as a problem which decentralized systems can fix.
The CEOs of Big Tech firms Amazon, Apple, Facebook, and Google will testify together – at least virtually – in the sixth of a series of hearings in Congress being held by the House Committee on the Judiciary. The series of hearings have been called, ‘Online Platforms and Market Power’, that have largely focused on ‘Big Tech’ corporations and their powerful position over the Internet and social media. The hearing will specifically be held in the Subcommittee on Antitrust, Commercial, and Administrative Law.
With a hearing that has two of the top five richest billionaires in the world testifying, including Jeff Bezos, CEO of Amazon at #1 and Mark Zuckerberg, CEO of Facebook at #4, the testimony with respect to antitrust matters will likely have a high level of public interest tomorrow. As these firms have fallen under the microscope for everything from allowing interference in our electoral process to profiting off of our personal data, these questions the U. S. Government has are also some of the problems that blockchain technology seeks to solve with a decentralized approach to rebuilding the World Wide Web in what is commonly known as Web 3.0.
Many blockchain companies describe the approach in building distributed systems as a new chance at the Internet as it was originally imagined and specifically target these ‘Big Tech’ firms as a problem which decentralized systems can fix.
