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RE: Age Of Abundance: Tokenization Of Everything!!!
@taskmaster4450 - what are your thoughts on the potential for an American or Global recession in the next couple of years? Is it likely do you think?
I'm curious to think through what role a tokenised economy would play in a recession... crypto could be an area where people store their money while property and shares lose value... or the crypto market might drop significantly as people sell out to fiat to buy food & pay their rent.
I think a tokenised economy could save people in a recession, but it needs to get to a place where we can exchange tokens for items necessary for survival. It's an interesting thought exercise...
This is one of the reasons we need to build up offline communities.
My steem is more valuable to me because it's valued by people I know (who grow their own food), and by someone else I know who can fix cars, and someone else I know who owns firearms etc.
Because each of us uses steem and knows that about each other, we can use it as a hedge against a dollar collapse.
I believe we will see one in the next few years. They might be able to keep it propped up for a year or two but the crash is coming.
At that point, I do believe the value of cryptos will appreciate greatly against fiat. I also believe automation will explode since corporations will have incentive to automate so as not to hire people back.
It will be a rough situation which will make people more accepting of crypto. It will help kick the tokenized economy forward in my view.