Age Of Abundance: Are You Ready For Things To Get Very Inexpensive?????
A while back I wrote a post detailing how people's income statement is going to change in the future. For those who do not understand basics in accounting, the income statement is a form that has the revenues (income) on one side with the expenses on the other. The difference between the two tells whether the individual/entity is operating at a profit or loss.
My view is that the tokenized world is going to increase peoples revenues. This is a good thing since technological replacement is a real thing. Automation is moving forward at an unprecedented pace. The last two decades witnessed the impact of technology on paychecks since they remained flat. The next wave, instead of holding salaries down, is going to be to eliminate them.
People fear inflation believing that long-term, we are going to continue seeing rising prices. We will not. The reason this is so is because more of our world is becoming digitized. Whenever something moves under the laws of IT, we see a radically decrease in pricing over time. The basic components of processing, software, and storage operate well into a double digit rate.
Most of us on this site are aware of the benefits of blockchain and the potential to eliminate costs associated with transacting money. This idea is already moving away from money and penetrating supply chains. We are still in the early stages of disruption. The next 5 years will see an enormous impact as a great deal of the business world is moved onto the blockchain.
There is another technology looming that is starting to get to the point where it will make an impact. Like blockchain, it is in the early stages yet will begin to disrupt a multitude of industries. This technology will reduce costs since it will be digitizing many physical products (at least the process) while reducing the labor costs associated with production.
This technology is 3D printing.
Personally, like blockchain is the technology in 2018, I believe we will see similar results from 3D printing in 2019. It is close to the point of getting mainstream attention.
Today alone, I came across three articles that really emphasize what the impact can be in the next 20 years.
To start, Dubai stated that 30% of their country will be 3D printed by 2030. In other words, over the next 12 years, they are going to move to the point where 30% of all construction is done with 3D printers.
Reports indicate that 3D printing technology will cut construction costs by between 50% and 70%, and cut labour costs by 50% to 80%.
The last part should get people's attention. Cutting labour costs means putting people out of work. This is a situation we see all across the technological arena regardless of the technology. Labor is often the largest component of the cost of anything. Reduce that and the pricing can fall.
Contour manufacturing (3D printing of buildings) is really starting to pick up. We are starting to see buildings constructed using this process that people are moving into. It is getting passed the testing/modeling stage.
Another areas that 3D printing is going to impact is food. Here we have an article from a scientific site. Remember the process of technology: the sites pattern is science, technology, financial/business, and finally mainstream. Since this is a science site, you can bet this is more speculative and much further out.
Nevertheless, people are working on the idea of having food 3D printed. The basic thought is that food will come in a powdered version that can be constructed using a 3D printer. The food is prepared and cooked to the exact specifications of the one eating it.
Also, the nutritional value will increase since the food will be customized for each individual.
Far out? Yes. Totally unrealistic? Do not bet on it.
https://phys.org/news/2018-04-d-food.html
Another aspect in the price of items is the shipping costs. Weight and size are usually the two variables that determine how much one pays to send something (in addition to where it is going). While many items do not weight a lot, their size makes it costly to move them. Imagine being able to transport items in a flattened state only to have them take shape after arrival.
This is what is being worked on.
There is the possibility to print out plastic items on a 3D printer that has the ability to form when heat is added. This was done by researchers at Carnegie Mellon.
https://www.cs.cmu.edu/news/cheap-3-d-printer-can-produce-self-folding-materials
As a bonus, we see a steel bridge that was printed by robots. It is 40 feet in length and used 4 robots. Again, we see the elimination of labor as a constant. Imagine a time when most structures are printed out using robots just like this bridge was.
The concept that I want to stress to everyone is one thing you can count on: this technology will improve and it will only get less expensive. We already see speeds increasing, materials being used expanding, and costs coming down. These four stories, if you take the time to read through them, will give you some insight into the future.
Over the next couple decades, we are going to see the cost of many items drop to near zero. Essentially, the only cost will be the cost of the raw materials. These printers will be able to keep producing items simply from CAD files. Do not be surprised to see this mixed with AI for faster development and testing.
The effect on both the income and expense side of the income statement is why I believe we will see the Age of Abundance in the next 20 years. Once people realize what cryptocurrencies offer, they are going to flock to them in droves. This will only hasten the acceptance of them while increase the development. Give this industry 5 more years and, I believe, we will be looking at a different world. Couple that with the reduction in cost of many goods and we are going to see an exponential impact.
This is something most are not accustomed to understanding. We are no longer operating on a linear basis.
That is why so much of this stuff seems unbelievable to most people. They are approaching an exponential situation using a linear mind.
Go back ten years and picture your response if I told you that cars would be driving themselves. You would think I was crazy.
Ten years later, cars are driving themselves. It isn't so crazy anymore.
If you found this article informative, please give it an upvote and resteem.
To receive the free basic income tokens you are entitled to and help end world wide poverty, please click the following:
Pictures by Google Images
Those people holding fiat may take a hit. I'm a little scared to hold fiat. lol
With each technical marvel that was mass adopted the cry of people always is that with less jobs because the machines were talking over.
Hollywood didn't do us any favors as they used that fear for creating Skynet.
With the blockchain maybe limiting the influence of the banking sector and making production more efficient and cost less then we can see that the prices of good and commodities will also lower.
Now with regards to loss jobs and income it is the responsibility of people to adapt and prepare for hard times and learn new schools for a blockchain society.
That is true...although this time, it doesnt seem the masses are screaming...so perhaps they are asleep.
Personally, I believe there is huge cause for alarm. The fact that I follow 6 or 7 technologies that are all going to be mainstream in 10 years led me to this conclusion. All of them are destroyer of jobs. While they might create a few more, the industries they wipe out is going to make those numbers pale in comparison.
When we start to see the threat to medical, construction, and real estate, that is when people will start to take notice. Right now the technologies that are going to hammer those industries are fragmented and under the radar. In another 5 years, I dont believe the same will be true.
Greetings @taskmaster4450. Another thought provoking article. I do have two questions however, that I have not been able to form adequate answers to. 1st, Right now the vast majority of wealth in the world is held in the hands of a very small percentage or people. Do you think this pivotal transformation of humanity will impact the vast chasm between the elite and the rest of us? 2nd, What about the lower class, the peasants of the world, the detritus of nations. What do you see happening? And I have a 3rd question: War. What of that? It seems the only logical (of course War is not logical) purpose of war would come from the fanatic demands of religious zealots. Any ideas?
Wealth can be created and destroyed. Poor people do just as bad a job at destroying it if not more so than the rich. Lots of poor people smoke cigarettes and drink alcohol. Will the world be a better place if we rob the rich to pay for more drugs and alcohol for the "poor". It seems like the majority of completely broke people I know have tattoos. They may have pretty much $0 dollars to their name but they sure found away to pay for a tattoo. I think we need less drugs and tattoos in this world and more fruit trees where people can go out and pick some fresh organic fruit for free. Humans could be growing a billion more pounds of free organic fruit a year but we do things like grow grass instead.
21% of the world lives in complete poverty...living on less than $2 a day. When you talk about "poor" people, I think it important to really define it.
It is easy for people in the advanced countries to pass judgment. The truth is most of the world's poor was screwed from the moment of conception. Being born in Subsahara Africa or SE Asia often means that one is thrown into the cycle of generational poverty.
The truth is the majority of poor in the world are that way simply because of where they were born.
Thanks to capitalism a lot of people have gotten out of poverty particularly in places like China. I would define the majority of the world as poor. Maybe 90% all the way up to 99%. I think we need more wealth creation and less wealth destruction.
I think we need better education so people can create wealth all over the world.
Thanks for your comment @mistermercury.
The advantage the have nots have is the numbers. Hence the elites will eventually have to fall into line since they arent going to be elite anymore. I think we will see many suffer loss as the world flips and their control is taken away.
The bright side of things is that it wont take much to increase their standard of living. Over the next decade we should see much of the 60% who are presently not online connected to the internet. This gives them access to the worlds knowledge base, something they are disconnected from. This will give them many opportunities. Plus, cryptocurrency does something for them that is not presently available to 6 billion people...quality banking. Imagine trying to conduct business without any reliable banking services (to send receive, and store money). Crypto does that with a wallet on a smartphone.
As for war itself, it will continue as long as the establishment is still holding on. Until the present government structures of the world of reduced or eradicated, we will still see the scarcity mindset in operation. This leads to fighting over what is mine. As abundance takes over, we should see it lessen.....yet how many in power on this planet operate from an abundance mindset? I would say few to none.
Hence war is going to be with us a while, especially as the planet transitions. Like the stock market, do not be surprised if we see a blowoff top with war...where these entities actually get more violent as they lash out trying to hold on.
Just my thoughts...thanks for the inquiry.
Very perceptive and again, thought provoking. I can see that Manna would be best used and most appreciated by people in 3rd world countries. Had not thought of the impact of 3D printing upon those nations, or ours for that matter. Religion. Perhaps we could say that blockchain tech, and cryptocurrencies will be the virus that invades the body of religion without these bastions of ignorance realizing they've been infected until it is too late. Of course there are prohibitions against the evil of knowledge already in place in many countries, and I suspect that will increase, but ultimately will not prevail. Or so I hope.
Humans! What complex creatures we are. What will humanity become? How will we respond to the Great Transition? Will addiction to drugs be replaced with addiction to VR for instance? Will the masses still be entranced by cute kitten vids while disregarding greater knowledge? And what of prolonged life spans? Will we live in some sci-fi reality where the elite live far longer than they now do? Will the next David Rockerfeller live to be 200? And what of humans? With all of this we will be something else, won't we? I suppose for some the tech of the future will open doors to expanded realities and self optimization we can barely imagine now, while I suspect most will succumb to the siren call of gratification of lusts and base instincts. And what of our interaction with the earth and nature? Will we finally assert ourselves as Masters separate from our roots? I suppose the answer to that is no different than it is now: a minority will take their shoes off and ground themselves in the energy of earth, while the vast majority will probably not need shoes at all... their feet will be "enhanced" with an imprinted tat of Nike on their ankles.
Well, I suppose these are some of the thousands of questions that will remain unanswered for now. We can only speculate. For some the speculation will prompt feelings of fear and dread, while others will be transported into a vision of incredible wonder. I have no doubt you will be among the visionaries. Blessings.
You have given me new insights to use in my series, The Roots of War, the Hope of Peace.
Just one last thought: I would love to see a symposium or some sort of Steem-wide open and live forum on these things. You know, a convention of minds so to speak. If such a thing is not now possible, I have no doubt it soon will be. Will you have an avatar sitting upon the stage? Or will it be you?
I can't wait until I can use tokens to buy a 3d printed house!
3D printing is definitely interesting as it could also lead to improved lifestyle standards. It also makes products available on demand vs having to order online today.
The future would be so exciting... if so many parts of it weren't so scary
haha
... steem on !
Agreed, we live in scary, exciting, times.
Love 3D Printing. I like it. Upvoted. Thanks for sharing. Love this new world where great powers bring even greater responsibilities as tools can be used for good and bad and our freedoms is the key in our choices.