Example 1: Why Cryptocurrency Is So Vital: Technological Unemployment

Source

Machines haven’t yet supplanted human workers en masse, but at the World Economic Forum’s 2019 meeting in Davos, Switzerland, corporate executives revealed they’re facing massive pressure from shareholders and boards to meet short-term profit demands. Automation has been the response across the board. (Emphasis mine)

https://www.entrepreneur.com/article/332361

This sums it all up.

If you want a glimpse into the future, this is it. What will society look like in another 10 years? One thing we can count on is a whole lot of people out of work.

We now live in a corporatocracy. A large part of our economy is under the domain of these mega-corporations. Those running these companies are beholden to Wall Street. The shareholders are demanding more short-term profits. Labor is in the way of meeting these goals.

The WEC along with other entities issued reports detailing their forecasts as to how many jobs will be lost by 2030. While the estimates vary, most agree that we are going to face a crisis from technological automation. Tens of millions of jobs are going to be eliminated. The question is how many will be made to compensate for the loss and can people fill those roles?

Personally, I believe automation is going to come quicker than people realize. These CEOs are going to ensure the profit targets are met. This means implementing those systems that enable them to reduce headcount.

Ecosystems like Steem are going to become more important. We are seeing the development of numerous applications that enable people to earn money. I see this as a potential income replacement when the jobs start to be eliminated en masse. Unfortunately, most of the population is going to be slow to embrace it.

My prediction is things are going to accelerate once the next recession hits. While the global economy is slowing, the United States is still forging ahead. The financial engineering is keeping things propped up. I read that CFOs now are estimating there will not be a recession in the U.S. until 2020 at a minimum.

Whenever it hits, these corporate executives will have the motivation to replace the employees who were let go with automation. The ROI will be too tempting for them to resist. In this situation, there is no impact on earnings by laying people off since those charges already would have been absorbed.

Where does this leave people?

In my opinion, it is going to be a rough situation. Fortunately, most people reading these words should be in good shape since they are involved in cryptocurrency already. By building one's "business" on here, investing time into the different applications and establishing a following, one is going to insulate him or herself somewhat. We should see the crypto-Winter end at some point this year.

And who knows, the acceleration of cryptocurrency might coincide with the deceleration of the present economic conditions.

There should be a great deal of motivation for each of us to remain active and do all we can to keep pushing this platform ahead. Whatever ecosystem one is involved in (and it is a good idea to be involved in more than one), that should provide dividends down the road.

I wrote in the past that when I look at a number of issues facing society, often the solution is the one nobody is mentioning. Cryptocurrency (blockchain) is the answer to a fair part of what ails us. This is an example.

Over the next couple weeks, I think I will choose a few of the situations and tie in how what we are doing on here can solve the issue.

For now, the solution to technological unemployment is people getting involved in what I see as one of the most powerful technologies being unleashed on the planet. The ability to get paid for things which were monopolized by mega-corporations now exists. Different platforms are being created to provide this to people.

Steem is one such solution.

Armed with this knowledge, hopefully readers of these words will feel more comfortable going forward. We do have an answer that others do not. Use this time to keep amassing whatever tokens you can.

It will payoff in the end.

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