The latest outage of AWS, a stark reminder of the dangers of Big Tech and urgent need for Web3: IoTeX co-founder Xinxin Fan





The latest Amazon Web Services (AWS) outage, which left some people in the United States locked out of their homes for hours, shutting down crypto exchanges, and many other deplorable incidents, clearly reminds us of those risks.

“Centralized cloud infrastructure has raised concerns about service availability and reliability, data security and user privacy,” said Dr. Xinxin Fan, co-founder of IoTeX, a cryptographer with a Ph.D. from the University of Waterloo, an inventor with 15 information security technology patents, and a former Bosch Research Engineer. “These and past external outages and data breaches also serve to further understand the importance of decentralization, blockchain and Web3.”

AWS’ over 18 significant power outages In 13 years, privacy violations by Facebook and other Big Tech, and Facebook (540 million accounts), Experian (15 million), Yahoo (3 billion), Microsoft and Twitter data breaches have been loud wake-up calls that centralization is flawed.

Source: Synergy Research Group.
Source: Synergy Research Group.

“Powered by decentralization and user-centric methodology, Web 3.0 sheds light on addressing security and privacy challenges in cloud computing and becomes key to restoring trust on the Internet,” said Dr. Fan. He talked about a blockchain-powered IoT or MachineFi, or Web3 to replace Web2. dr. Fan and the IoTeX team are paving the way for Web3 by securing smart devices with blockchain technology.

Yale Law School visiting professor Sean O’Brien agreed, saying it’s essential to build a new network model that resembles the peer-to-peer roots of the early Internet. Web3 replaces the traditional Internet by operating on this peer-to-peer model that eliminates the need for middlemen like Big Tech.

“The latest AWS outage is a prime example of the danger posed by centralized network infrastructure,” said Sean O’Brien, a visiting lecturer in cybersecurity at Yale Law School. “While most people who surf the web or use an app don’t know it, Amazon is baked into most of the apps and websites they use every day.”

Tens of thousands of people were affected by the outage that made people think about the pitfalls of having smart homes or smart devices.

“I can’t vacuum because US-east-1 is down,” tweeted Geoff Belknap, LinkedIn’s top information security officer.

Amazon was the victim of its demise. The warehouses in the US stopped working on Tuesday, December 7, as the AWS (cloud computing system) left it without the technology that powers the company’s logistics operations.

“The AWS team is working to resolve the issue as soon as possible,” Amazon spokesman Richard Rocha said in a regrettable press release Tuesday morning. The AWS technical team did not resolve the issue until later that evening.

The Scottsman wrote that same day that “the outage is an example of what can happen when too many companies rely on the same software or technology vendor. However, with Amazon’s global impact on hundreds and thousands of businesses around the world, it’s unlikely that this outage will have a lasting effect on its use.”

“Dead Roombas, Stranded Packages, and Delayed Exams: How the AWS Outage Wrecked U.S.,” CNBC’s Caption report on the malfunction.

If history has shown us anything, it is that it repeats itself over and over, and if people continue to trust centralized entities over and over again, wouldn’t that be the definition of insanity? Web3 represents technologists pursuing idealistic promises for a better internet and the ability for humans to take back control of our data, intelligent machines and the value they generate, which Big Tech has unscrupulously expropriated.

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