These are not listed in their order of importance, but in an approximate chronological order.
1. The Digital Panopticon will come into a Crisis of Control
This has already started with such data breaches as what recently happened at Equifax, and criminal acts such as opening unauthorized accounts at Wells Fargo for profit. Decentralization technology will eventually make these kinds of centrally controlled disasters obsolete due to the fact that CEO’s will lack the control to unilaterally authorize such events in the future.
At some point, the need to increasingly collect more data beyond 2FA will become so great that it will break centralized database IT so that it can no longer function. Siloed databases will break and leak their contents to a new blockchain where trust models are not necessary. The inability of centralized platforms to keep up with the patching of data leaks will eventually lead to abandonment of centralized technologies that make direct use of biometrics.
The weakening of government institutions along with the rise of tech leaders will lead to changes in governance that gives the boot to the dinosaurs. The intellectual elite will no longer put up with the old model of governance as it will be clear to them that the choice is between loss of control in order to survive, or become extinct due to an addiction to power.
2. Governments will be Forced to Cut Services and Downsize - Internet Industry Leaders will Become More Powerful than Government
Of course many governments around the world will collapse, but I’m referring to the larger and more powerful government organizations. Once the equity drain takes effect on national fiat currencies governments will have two choices, war or acquiescence. Some will choose war. The rest will reach out to industry leaders who still have money because they had the foresight to invest in cryptocurrencies and other internet technologies.
The irrelevance of the old guard will be so exposed that they will be retired by those who still have the resources to keep their systems running. This means that many governments will collapse and that interim governments made up of the relevant leaders in technology will take over. The loss of control will cascade ruining the reputations of many high profile business and tech giants, until the lesson of control is understood. Once control is lost, blame will subside and balance with nature will return.
3. The Banking System will become Borderless
Some level of collapse is likely here, but it will probably not go away completely. This is an area where infrastructure inversion is likely to happen where the power of the banks is greatly reduced and limited. Their position of authority as deputies in the system of law enforcement of money with KYC and AML will become a useless exercise because there will be a giant hole in the framework allowing 85% of the worlds population to use completely anonymous cryptocurrencies on a MyCelium wallet with a cell phone worth about a dollar.
This of course won’t happen until crypto use becomes so simple as to require no more technical sophistication than the ability to swipe your finger across your screen.
4. Traditional Stock Exchanges will go Extinct
The reason for this is that the ICO model based upon blockchain technologies will make traditional exchanges obsolete. These models (such as decentralized exchanges) no longer need a long list of verifications to become an accredited investor.
Securities regulations will eventually have to bow to the realities of the technology that governs them because the only alternative is to go back to the stone age. For quite a while as these technologies are being developed, internet and tech giants will give lip service to regulators. But regulators will be like barking dogs harassing a polar bear. When their equity is drained to the point where the tech giants have more liquidity than governments, the power will reverse direction.
5. The Legal System will Become more Technologically Based
Lawyers who don’t know how to program will soon find themselves irrelevant and useless as smart contracts begin to take over execution of law. Instead of dictating changes, they will be taking dictation from technology leaders because they have lagged behind for too long. Many old laws will become unenforceable and will eventually be retired due to the irrelevance they will have in the new world.
Politicians will soon also find themselves in the same situation, but because their position is more one of control, their ability to survive will be less. Politicians of the future will become witnesses to various consensus algorithms such as the Delegated Proof of Stake model, essentially elected to oversee consensus without the ability to substitute their own will for the will of the people.
6. Corporations built on the DAO model will become the new Government(s)
DAO stands for Decentralized Autonomous Organization which is a borderless, stateless version of nation based corporations with a corporate model backed by a government. In this case DAO’s will be backed by their participants or an elected set of witnesses using a consensus algorithm such as “proof of brain” or "delegated proof of stake".
These DAO's will take over regulation of all the dangerous products of war by the state such as nuclear weapons, nuclear power and chemical plants.
7. Wars will Eventually Become too Expensive to Wage on a Large Scale
This is because as cryptocurrencies become more popular, they will weaken the banking system such that banks will have to adopt use of cryptocurrencies with a superior store of value. As national fiat collapses around the world due to their broken trust models, they will drain equity into nationless, borderless and censorship resistant cryptocurrencies.
The fact that most of these crypto’s don’t have the ability to do what the Federal Reserve does means that the inflation model of passing debt onto future generations that aren’t born yet won’t work anymore.
8. Driving an Automobile will Become a Thing of the Past
Automobiles using consensus algorithms to determine traffic patterns will act as a “road traffic control” based upon ATC protocols. Automobiles will be able to own themselves and run on smart contracts that interact with their own blockchain to schedule maintenance intervals, respond to requests (like Uber), and insure themselves within their own smart contract models.
9. Police will Become Stateless
What do you think will happen when cars own themselves and DAO’s without anyone in authority regulate them? Who will get tickets? Who will pay the fines? Civil asset forfeiture will become a thing of the past. Police will no longer derive their income from states, but from DAO’s. They will be private hired security forces and will be largely unnecessary in a future where self governance rules.
10. Quantum Mechanics and Quantum Computing will lead to New Worlds (Literally)
Virtual reality will take on new meaning when quantum computing is able to generate quantum entanglement that allows for superposition of mental states using artificial intelligence. There will be talk of centralization of power and loss of privacy again when this happens. Quantum SHA will be developed to increase the resistance to factorization of superpositioned engangled states of Qbits.
11. Or we fail this test and go into extinction...
In other places on my blog, I explain that terrorism is a byproduct of authority. The solution to our long term survival is to wrest control from all forms of authority and replace it with decentralized control. Our failure to do this will lead to an exponential increase in danger over time.
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