On Open Algorithms and Dismantling Data Monopolies

There’s a common saying among SEO experts, “The best place to bury a dead body is on the second page of Google.”

The second page of Google is such a great hiding place because only 25% of users make it past the first page of Google when looking for information. In essence, individuals are more likely to alter their search criteria than wade into the shallows of Google’s database. This either speaks volumes about Google’s search algorithm or humanity’s desire for instant gratification. Perhaps, both.

Companies, especially startups, live and die by Google’s search algorithm. A minor adjustment to what comes up on the first page of Google or how Google indexes data can alter consumer traffic and subsequently, a company’s bottom line. Today, algorithms control more than just what comes up in your search results.

Algorithms effectively control the distribution of content and offer cherry-picked news that is designed to incite individuals rather than unite them is the accepted norm. Social media and news algorithms are powerful enough to influence political elections around the world by feeding misinformation. Algorithms on Amazon or American Airlines set the pricing of items and services, often without the consumer’s best interest in mind. The success or failure of creators is single-handedly determined by the search and recommendation algorithms of economic engines like Youtube, Spotify, Netflix, and Apple.

In short, algorithms are increasingly steering our lives in pre-defined directions as the incentives push the world’s smartest minds to develop faster and more value extractive models. And in all honesty, there’s no indication that this trend will decrease. All signs point to a world increasingly governed by algorithms. Similar to auto-driving cars, while you may be in the driver’s seat, the algorithm is truly in command. You are merely the passenger with the illusion of control.

Luckily, cryptonetworks present a means by which humanity can perhaps reclaim the driver’s seat, or at the very least keep both hands on the wheel.