Cryptocurrency is stepping up in a big way. Right now it is a bit hard to see yet we are seeing the foundation being laid that will provide people with what they need down the road.
Presently, we are embarking upon a deeper path into the technological world. There is little debate that technology changed a great deal about society, most of it for the better. This is only going to continue going forward as the technologies we working with become even more impressive.
The progress depends upon what individuals choose to focus upon. Simply put, technology reduces the need for human labor. This is a good thing and moves us closer to the utopia some technologies discuss. As automation take over, machines do more of the work. It is an end we all should strive for.
Of course, there is an economic downside. When more people find it difficult to find work, this causes problems on every level. Taken from a societal standpoint, how do we handle a time when tens of millions are permanently out of work due to automation? This is a question that few can answer and certainly appears to pull us closer to a dystopia.
A case could be made that we are entering unprecedented times. The pace which things are happening was not experienced before in human history. We try to equate it to the Industrial Revolution and other eras of massive change. The challenge with that is those took place over many decades. What we are seeing today shows how industries can be completely upended in a few years.
Automation is a tremendous driver of the economic engine. It allow for the generation of far more productivity and wealth than people could have imagined a half century ago. However, this is not without problems.
One of the biggest is the distribution of said wealth. We see the inequality growing on a yearly basis. At the core of this is the ownership of the production. Due to our corporate structure, the beneficiaries of the advancement in automation are a relatively small part of the overall global population. They are the ones who are constantly moving towards the utopian side of things while the majority of humanity feels the dystopian effects.
This leads to the proposals of such topics as UBI. Without going into that specifically, one major drawback is it does make people dependent upon governments. The challenge here is we see an organizational structure that is highly subject to corruption, unsavory characters, and can end up causing more overall harm than good. Get away from the political ideologues and one would have a tough time finding anyone who would say that any government (or administration) was truly of benefit to its population within the last 50 years. In short, government has basically become the enemy of the people because of the corruption of politicians and bureaucrats.
All this puts people in a very difficult position. Ultimately, depending upon the government tends not to work out for many people. Just ask those at the lower end of the spectrum who have to constantly deal with this matter.
Hence, we need to come up with a different way of going about it. Is there something that can radically alter the landscape which will serve as a better distribution model across the entire planet?
Fortunately, there is cryptocurrency. This is a technology that is truly a game changer. The power here resides in the ability to completely alter the "ownership" of production model. Instead of it residing with just a few, it is something that can be spread across the entire planet.
It is also an arena that does not operate based upon the scarcity model. Since it was born in the digital world, it operates under many of the same properties. Two things the digital realm are known for are speed and abundance. People can hammer out code and create platforms that are only limited by bandwidth and computational speed. Both of those are continually increasing. Operating in a world of bits, global collaboration can take place in a matter of seconds as data is moved around the world at a mind-boggling pace.
Over the next decade, we are going to forge digital organisms which have a life of their own. Through the tokenization process, ownership of digital assets can be established. These can represent influence within a certain community, carrying some monetary value.
This leads us ideally into the autonomous age. With the progression toward more automation, the benefits of that can be spread across billions of people. Through their efforts, they get into the action via cryptocurrency. This will lead to the establishment of some baseline of wealth for people. From there, they can start to expand into different ventures which provide a return from the automated activities.
Of course, there can be different goals associated with a DAO. Under a corporation, at least a publicly traded one, there is a single goal: maximize profits for shareholders. That is what the corporation was designed for. It exists for few other reasons.
The DAO, on the other hand, is meant to maximize efficiency. Hence, while a profit is sought, trying to squeeze the most out of the every aspect of the organization is not the goal. Here is a situation where those with influence are also users/participants of the system. For example, a solar power system might be tokenized and most of the token holders are the ones in that area who utilize the power generated. Are they going to want to endure outrageous fees simply to maximize their return? Of course not. Instead, they just want to have low cost renewable energy. Money above a prudent reserve to ensure ongoing operations is not really necessary when the "owners" are the users.
This idea is going to filter to every level of the commercial ecosystem. While many things will remain as they are, most will shift. This is because the business structure is much better suited for long-term success. It removes the adversarial relationship between customers and a business in an effort to create a resilient business. It seeks to serve (benefit) those who are actual users as opposed to firms that just look to maximize returns.
In the end, the same person will be involved in dozens of different projects. It will all come down to the effort put into each one that reflects the individual's influence. This will have a monetary value based upon the tokenization, something that will help to enhance personal wealth. When we look at the totality of the person's activities, we can see how this will benefit him or her.
Of course, the automation of most everything is still a number of decades away. In the meantime, we will see digital organisms forming that are tokenized. Many refer this as "tokenized communities" which will end up being mini-economic systems that serve those who are involved. Again, since this is a voluntary system, people are free to partake in whatever they desire. The online mobility allows one simply to move from community-to-community has he or she sees fit.
Over time, people will find those areas that best suit them. This is a "work" life that is not based upon the values of the higher ups or where one has to succumb to the "boss". Instead, it is a co-operative that is digital, hence can reach all corners of the planet. The values will be derived from those involved as opposed to some company ethos that was basically set by the Board of Directors (usually built around maximizing profits).
Eventually, we will see all those displaced workers compensated for their activities through the tokenization process. As the market cap of crypto enters the tens of trillions of dollars, we will see billions of people partaking in these systems. It is then that we will know that a massive paradigm shift took place.
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