Two Issues Solved: Now The Next Major Challenge
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We know there is major disruption taking place. The system we are operating in is going to change over the next few years. Those of us who are on here now are aware of what we are doing. For some of the newer people I will explain it a bit.
Thus far, we solved two of the global issues in a question to put power back in the hands of the general population and not just the few elite who can afford to buy everything up.
This is who is already in the process of being destroyed.
Financial Institutions
When a little White Paper appeared a decade ago, announcing the outline for Bitcoin, few knew much about it. However, a decade later, we see the implications. The financial system is cooked. How can I say that? Look at how they are behaving.
Bitcoin gave us "money". It was a decentralized peer-to-peer network that was monetized. Suddenly, thousands of years of history were turned upside down. What was reserved for the few, the creation and distribution of money, could now be done by anyone. Over the last decade, the floodgates opened up. What is ironic is we are just at the beginning. If the general public cannot grasp 2,000 currencies having use, wait until there are a couple million. It is really going to be mind-blowing.
Wall Street is ripe for disruption. While the tools are not quite ready, the potential exists to take this entire sector and place it on blockchain. Over the next decade it will happen. The players in that arena are simply too greedy and corrupt. Trust is going to be a major issue going forward.
Why would anyone buy an index fund that requires fiat AND has a nice percentage taken out by the brokerage house when he or she can use crypto to buy the same product and have little to no cost of transacting?
Social Media
The Steem blockchain showed the world, or at least those paying attention, what is possible. This ecosystem has a viable model which is proving to be resilient. Over time, as we see more applications, we will see growth that could rival some of the smaller social media companies.
This is an important milestone simply for the fact social media is so intertwined with the internet. It is a regular part of most people's lives. With another 3.5B people slated to come online over the next decade, this will only grow. Steem is in a nice position.
We are going to see a time when the present system will crater. How are social media companies that are dependent upon the selling of data going to withstand the onslaught of applications that actually reward users? The answer is they will not be able to. As cryptocurrency becomes more mainstream, we will see more people getting involved. The stigma is heavy right now with crypto but it will not be that way forever.
Obviously, both the financial and social media companies are doing just fine. Then how can I stated they are cooked? It is the same way you could conclude the newspapers and magazines were going to be decimated by the internet. It was only a matter of time. We will see the same thing here. Over the next decade, both these industries are going to see relentless pressure from blockchain. The inventivizing mechanism is simply too appealing.
So what is next up for us to work on? What is the next arena that is ripe for disruption (devastation)?
Government
That is right boys and girls. The government model, no matter what flavor, is completely broken. It is time for the tools to be created to eliminate this plight from the planet.
Thus, the crypto/blockchain world is going to have to focus a lot more attention on governance. It is something that got a few efforts without much in the way of results. Some wrote papers with even some chains trying to implement different governance methods.
This is major. We have the capability of automating a great deal of what is presently known as the government. Add in the fact that more of our lives are in digital form coupled with the expected rise in Virtual Reality, and it is easy to see how something different is needed.
Our present system favors the few. Perhaps it always did. No matter what model is viewed, the results are the same. We have the ability to change that. Just like we have the technology to obliterate the financial and social media realms, governments can also be in our cross hairs.
However, for that to take place, we need to come up with a viable option.
Coupled with the DAO, we can see the erection of a system where people are not able to "buy" what they want or use their money to influence the system completely in their favor. In the end, we could see true decentralization even though most people will not be aware of what is taking place.
One-by-one, I think we will see industries get taken out over the next 10-15 years. By 2030, I do not expect to see the world operating anywhere near like it is today. It will be totally unrecognizable.
And we all have a front seat to what is taking place.
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I think it will be much much slower. Most people feel comforted that a government is there to hold their hand. Trying to change a culture in the workplace is hard enough, but trying to change the culture of the entire world is going to be nearly impossible. I was watching a video on people affected by the government shutdown and almost everyone said they are working for the government because they thought it was a guaranteed job with almost no risk of being fired.
While I think it's the way the world needs to head, I'm not optimistic enough to think we will see that in my lifetime, and I should have another good 50 years left before i pass away knock on wood.
I agree with most of what you say about disruption of financial and internet firms. George Gilder has said the same in Life After Google.
Regarding government, there is certainly opportunity to dramatically reduce the scope of what they do and focus them on their core functions of law, order and defense.
However they and the nation states they govern cannot be replaced until we are able to leave our weak biological physical form. Until then the blockchain can’t provide the physical security we need to survive.
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Governments will always exist on a macro scale and that's probably a good thing for the foreseeable future. For individual functions, new technology like blockchain will force them to either become more efficient and transparent in their dealings, or render them redundant.
I reckon thugs are losing their potential ability to project power, due to technological advances in security becoming available to individuals, that have formerly been the sole province of institutions. Consider how pointy sticks and chipped rocks decreased the ability of primeval thugs to impose their will on people, and that technology always disperses to individuals over time. One guy with a spear could convince an unarmed group of thugs to leave him be, and he could retain his property despite their attempt to take it.
Now we have technologies eventuating that make even an entire army of armed thugs helpless to project the power of overlords, and 3D printing will enable individuals to manufacture such security at home, at will, and at their sole option, no matter what any gang of thugs might demand.
Consider how hypersound, microwave beams, and other such mechanisms render assailants physically unable to impose force, and project such power being in the possession of every single person on Earth.
Traditional power, government, and even war itself, are obsolete.
Thanks!
Here's one aspect that occured to me last night - What if, like witnesses, elected representatives could be corporations (groups) with public charters?
Its an idea that still needs developing, but a corp (even a not-for-profit) has the advantage of aggregating many humans skill sets.
This is why I never understand the urgency associated with an ETF and "institutional money". These are the last people on Earth that we would want owning a share of the new world being built. The concept of crypto only being worth as much fiat being pumped into it is ridiculous.
The real truth establishment have the potential to manipulate crypto completely like they did with silver and gold. The best is to be part of the game!
It is nothing 120 billion in market cap, they buy all the bitcoin out there and voila. ;)
Are you implying that all cryptocurrency on the planet could be bought with 120 billion dollars?
You need a lesson in liquidity and HODL culture.
This is the current value of the crypto market but we cannot buy if the people don't want to sell. The point I emphasize central power already control the crypto market and is not about liquidity or hodl culture!
These two factors are what attracted me to Steem as I consider the potential disruption of the combination of both technologies have in business and economies. I think the fact that accountability can become more transparent will be an interesting move into the public sector entirely.
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The rate at which the world is revolving day by day. Like you said, in the next 30 years to come, the world would have completely changed than the present world of this present time. I am still about to marvel about the technology that will be created in the next few years to come
It is truly a very interesting and revolutionary time!