In my last post here, I spoke on what cryptocurrency an blockchain is and how it functions. Now we can begin to get into how this technology can change the very structure of our society.
Most people see it merely as a means for speculation and/or gambling, but only because that is what is parroted around in the mainstream media and many people not knowing where else to look for adequate information. Many of our people get their understanding from some type of centralized authority figure, not knowing/learning how to be self-dependable and discriminating with their gathering of information.
(Mind you, yes people do gamble with the volatility of the new, emerging market. I do not recommend.)
This tech could very well upend our entire social structure. The timing couldn’t be more perfect.
Due to its disruptive nature, Those who feel threatened by it have fought to suppress these innovations. It being a replacement of certain power structures, at the very least the suppression and misinformation is an attempt to buy up a big chunk before allowing true price discovery to happen. Thus these power structures still maintaining their power by owning a majority of the supply.
Bah, the countless differing interwoven chess games going on behind the scenes of the world… It itself is quite fascinating, once you see what it really is. But that is a tale for another time.
Anyway, unto it then.
Blockchain Overhauls the Financial System
Of course, the most obvious disruptive use case is the financial system and I speak of this about in the “What are Cryptocurrencies?” article. But, basically, the financial system that runs this world is broken. Has been for some time now.
Being propped up by synthetics, derivatives, Fractional Reserve Banking and government bailouts, not to mention that the tools are only reserved for a certain class of individuals, it clearly is not intended for the benefit of humanity as a whole.
Just look at the world around you.
To make it easier, you can look at money as a transmutable, liquid (meaning easily movable) representation of resources. It is something that can be changed into anything needed and can be easily transferable. Kind of like how blood functions for the body.
Much like blood carries oxygen and nutrients (vital resources) to the farthest reaches of the body to keep the whole organism optimally functioning, money is intended to be a simple means of moving resources through out the community or, to paint the bigger picture, our planetary organism. You can look at money as being the “blood” of our social system. Its what keeps things running smoothly.
(Just to blow your mind even more, you can look at humans as the cells, the electrical grid as the nervous system and the internet as the thinking/memory complex of this planetary organism.)
But our current centralized structure, not being in the service of Humanity as a whole, has dammed up humanities transmutable resource, known as money, so to have the majority for themselves and leave only a trickling to be distributed amongst the masses.
What happens when your blood gets stuck in specific places? These are known as blood clots and lead to things such as heart attacks (an attack on the heart of a being) and strokes (diminished cognitive/physical functioning).
What happens when you don’t have adequate blood flow to bodily limbs? The lack of resources leads to suffocation and famine of the limb, usually leading to amputation. (poverty, starvation, alienated from society)
Any of this analogy ringing home?
With a decentralized, interoperable, open source financial structure, it becomes less possible for any centralized parasitic entity to hijack the system for itself. Opening the flood gates so all peoples may partake. The dam collapses and the rivers and streams are free to nourish the land once again.
This also allows for the opening up of the tools of finance to the people, making way for people to learn how to make money or wealth work for them, as opposed to relying on having to work for it.
Another parasite embedded within the social body is data mining. This has to do with the cookies and trackers embedded within technology to track and measure the doings of the users, for statistical and marketing needs. This is usually sold off to companies and marketing firms to better hone advertisements and revamp algorithms.
Yes, I said sold off. Do you receive any of this income? No? Hmmm… But isn’t it your information?
What’s more funny is that some of these services actually have the audacity to charge you to make money off of the data generated, lol. Its good business, not going to lie.
Again, when you take away the centralized entity, you mitigate this parasitism.
There are already things in the works to create a “web 3.0”, overhauling the internet to be more secure and advantages for the users. Even making the internet pay for itself, opening up its user base drastically, allowing for more widespread information sharing and education for the people.
As of now, Brave browser is a functioning internet browser that takes away the ads and trackers and pays you for the information it gathers.
It pays you in cryptocurrency known as Basic Attention Token (BAT).
Though, even legacy social media has been starting to incorporate crypto functionality, albeit not in the data management sector. Twitter is looking to implement Bitcoin tipping functionality, Reddit has been looking into running some of its token mechanics on Ethereum and Reddcoin is already a functioning tipping extension plug-in that works on existing social media platforms.
These small changes pave the way to reshape what it means to “like” someone’s content. Effectively allowing people to actually support the content creator monetarily, making it easier for them to keep on creating. (more on this later)
This is only the beginning. As this tech is still new and being worked on, there is still much to do.
Digital Resource Management
The decentralized, interoperable nature of this technology allows for the “lending” of the very thing money is a representation of; resources. Digital resources in this case.
Digital resources are anything from RAM, CPU, GPU and storage space all these things can be passed along on the Digital Highway of broadband. (Which itself is built upon its own blockchain to make broadband more efficient.)
This all, when put together, invariably lays the foundation for…
The Advent of Functional A.I.
With the ability to off shoot the cost and inefficiency of servers, localized G.A.I. systems can become a feasible reality. Paving the way for more efficient manufacturing and I.O.T. use case within our cities.
I know, I know… “but our jobs!” and/or “wont A.I. just end up killing us?”
No, A.I. will not kill us all, unless we design it too. This is a common misconception brought about by movies to paint some kind of narrative. A.I. will only do as it is instructed by the parameters set forth in its code. Hence the importance of Open Source coding, yet again. Just as in the Financial sector, the code must be able to be scrutinized by anyone, so to mitigate any nefarious doings.
If you are worried about misaligned A.I., look no further than the algorithms of Google and major social media streams, such as Facebook and Twitter. They have already designed an A.I. to sniff out “misinformation” and have told it to scrub anything that does not align with the designers desired view of the world.
Are you able to look at the algorithms governing social media? Why not? I will leave you to ponder that one and speak no further on the subject.
As for the worry of a “jobless” economy, if A.I. does most of the labor and manufacturing, that’s simple and will lead us to the next section.
And for the record, I am even leaving some things out as to keep this article small!
I haven’t even mentioned DAOs and how this tech can do away with excess government!
Again, striping away the hindrances to growth by truly allowing the people to have a say.
Other things left relatively unmentioned:
- Overhauling the legal system
- Including more efficient and comprehensive Wills
- NFTs creating a play-to-earn model for video games, creating an income for gamers
- NFTs easily allowing artist to profit from their work, with royalties. Creating income for artists
- NFTs contracts of ownership (Car titles, land deeds, patents, etc.)
- Medical and government paper work management
- Utility data management
- Ease of scientific cooperation through open source and censorship resistant means of sharing information. Leading to faster innovation.
- And things I cant even think of at the moment.
This isn’t even an exhaustive list and, as you can see, this technology has wide breadth of application on our entire societal system. Making it more efficient and cost effective.
And so, with what I did write about, let us see if we can piece together a possible vision of future potential.
Piecing Together the Puzzle that is our Potential Future
So now comes the time to put this giant conceptual puzzle together to get a view or idea of the potential future this creates.
Many of us already have some piece of technology, most having a cellphone of some kind. With smart phones and the ability to rent out its resources when not in use (GPU/CPU), the phone itself starts generating an income for the individual.
Now broaden that to computers. As the financial system becomes restructured and resources start to flow more efficiently, more people will now have the ability to own a computer. The resources in these can then also be rented out as well. With this, the phone and web 3.0 data earnings, there are now three sources of revenue for individuals.
Since social media has now been overhauled, people can begin to generate some revenue by sharing their interests and hobbies. Also, now having more free time and access to information and other peoples creativity, via social media, people can now hone their skills in whatever realm they feel pulled too.
With this, its not so far of a stretch to see that this experimentation with their own innate creativity, leads to more rapid innovation as well. People having more access to resources, knowledge and free time, technology and creativity can evolve much more quickly.
In short, all these things put together create a foundation in which our very lives become our career.
Having the resources to pursue our passion and interest, monetarily incentivized to share findings in pursuance of these interest, and no centralized entity to censor or take from the pool of human ingenuity, humanity will be free to be and do what we are meant to be or do.
To live our lives and pursue our passions and more deeply discover who we are. This is the power that this revolution has. This is why I find this technology to be the most important innovation for human evolution. Better yet, not only does it free us from this parasitical leeching of potential and resources, but is also the means we replace their system of repression with one that helps push humanity forward.
A two for one.
All of this put together, we have the structure to replace the old paradigm already in place. Now it is just a matter of time and adoption.
We have a bright future ahead for us.