It has been broken for a long time now, but the trouble is that we don't know how to fix it.
Don't get me wrong, I love the internet, it is one of the most powerful developments of the last few decades, and the potential that it holds is unrivalled.
Billions or perhaps trillions of dollars of wealth has been created from the internet. New industries that did not exist twenty years ago have been created and more new developments are being established and launched with regularity.
The number of Internet billionaires and multimillionaires created by the Internet is really astounding.
It has not only created new economies and new wealth, but it has made us a lot more productive, and things that we thought were impossiible or unimagineable a few years ago is now commonplace.
We are watching movies on our phones, video chatting in real time, and soon realtime translating will allows to speak with anyone, any where in the world, but there are few things that are heading out of control.
The problem is that we cannot decide, how and who should set the rules for using it as it does not belong to anyone.
- So we still have waste full processes like spam that costs billions in lost productivity.
- Experts agree that the infrastructure is vulnerable to cyberattcks that can do great damage and cripple the functioning of several countries including the US.
- Hackers can still break into the databases of financial institutions.
- Orgainizations in underdeveloped countries can steal and sell the idebtities of people in developed countries
- Social networking, with all the improvements and benefits are actually causing us to woory less about safety while publishing personasl information in the public domain.
There are a litany of issues, with which we should be dealing, but the exuberance is causing us to turn a blind eye, as the interconnectivity is causing us to throw caution to the wind.
In retrospect, it is not really the internet that should shoulder the blame, but it has been involved in almost every major crisis in the last few decades.
It was easy access to the intricate financial instruments that caused the last recession.
Governments in the Middle East were overthrown with high speed connectivity powered by the social networks.
The problem is not really the Internet, but how we use it. A system of checks and balances is needed before things really do spiral out of control.
Just how do we put some controls and put some order in to the pace of technological developments is something that deserves very careful considerations, but it cannot be denied that some reins may be needed.