Bitcoin may become a world currency --- but Ethereum with AI may play a larger role --- here's why ---your thoughts?
Don't get me wrong. Bitcoin potentially being a big player in world currency is massive. Could Ethereum and AI replace workers/managers in the future?
However, the more I read about Ethereum, the more I am seeing a bigger picture of the "why"....why is it worth so much ...why is the price rising...why will it keep on rising.
In business, they are always driving two objectives --- raise revenue and lower expenses. By lowering expenses, you are raising profits. This is why McDonalds is putting kiosks in stores and calling it "super customer service".
Anyway...I was reading this article in Forbes about Ethereum and AI (artificial intelligence). Note the title, note the the "how" it will work. And now you can see why firms like KPMG , Microsoft and the Ethereum Alliance are going gaga over what they will use to "drive revenue or decrease expenses".
So either we get ahead of this or are we a person who could be at risk of losing our job in the future?
How Artificial Intelligence Could Eliminate (Or Reduce) The Need For Managers (article title)
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Keeping it simple, we could say that smart contracts are contracts that are made valuable, enforced and executed through digital means, without the need for intermediaries that certify the validity of the transaction or check that the task has actually been performed.In a seminal article written in 1997, Nick Szabo used the humble vending machine as an example to illustrate the concept. Whenever you buy a product, you stipulate a contract whose terms are somehow embedded in the machine. The machine takes in coins, and via a simple mechanism dispenses change and product according to the displayed price.In today's data-driven world, thanks to the Internet of Things and widespread connectivity, the possibilities are much greater than this. Smart contracts could allow you to do almost everything, from buying and selling a property to check workers' performance and pay them using the blockchain."That enables a whole new element of disruption. In theory, we don't even need to register a company anymore. You can have this entity that generates profit running in the cloud and it's completely anonymous and it's very difficult to trace who actually owns it," Watson says.There are a number of platforms that are already being created to take advantage of that. One of them is called Ethereum, and offers the promise of "unstoppable applications without any possibility of downtime, censorship, fraud or third party interference."Most interestingly, these platforms would not necessarily need a management. They could be run by an AI that controls all the processes, assembles automated tasks with human contribution, and provides the final service. Humans would still be involved, to a degree, but they would not run the whole show. .....cut.
If you are Generation X or Millennial....we have to wonder. And maybe this is good reason to make others aware so they can at least be a part of the Bitcoin or Ethereum rise so you don't have to be a "cog in the wheel". It's coming.
Meanwhile we are constantly distracted with "breaking news" of crap. The world business leaders are playing chess with our lives while we are wondering what a celebrity had for breakfast.
What say you ?
Ethereum cannot do AI. Look into Tauchain instead if you are into AI+Blockchain. Ethereum wil probably never be good at AI and if it ever does it, it will have to connect to another chain like Tauchain or use off chain services with an Oracle. How will they keep it private doing it like that?
Thanks Dana. As I read more we can also see the software applications (blockchain) can help companies do more with less -- that is the concept of the "smart contract" with ethereum (quicker, secure etc...) and many people did those jobs before....not anymore. This whole are is slowly coming forward. The larger companies are very much wanting to learn more and understand how it can help them. IMHO...always learning.
floridanow, great insight. I've had exposure to bitcoin, but have been trying wrap my head around Ethereum and the value proposition of smart contracts. Once corporate management understands it's potential, this will make waves in the economy for years to come. You may already be aware, but the Consensus conference is coming up from May 22-24. It'll be interesting to see what comes out of it. Oh..and thanks for being my first follower! -cheers.
https://steemit.com/ethereum/@parker.hammer/consensus-blockchain-conference-may-22-24-ethereum-speculation
Thank you for the kind comments. And let's not be surprised by the "selloff" AFTER the May 24th date --- people like to "sell on the news". We shall see.