In ten, maybe twenty years I predict storage and cpu will be so cheap that everyone can just host their own data in their own router, and provide some universal API to it. Many problems solved, including privacy.
We've already had the capability to do this for many years. See Napster or BitTorrent.
The thorny issue is that legitimate copyright holders lose out when anyone can freely host and share their work. That leads to discussions about whether there should be copyright at all, whether digital creators have a right to charge for their work, etc. Those are the problems that need to be solved, not the technical issues.
