April 3rd, 2018
Most people still do not understand the major impact that the Blockchain is going to have on humanity. The media are concentrating on cryptocurrencies that run on the Blockchain and are ignoring the massive breakthroughs that this new tech is creating. The main topic of debate in the media is the price of Bitcoin along with other ALT coins but the real story is how the Blockchain is going to control most of our lives.
At present most industries require human operators to carry out all the tasks needed to run a successful business. This model is changing fast due to major corporations implementing Blockchain technology. Rather than humans having to carry out checks, processes, and transactions a smart contract can be created to deal with all of these roles. They are then all run on the Blockchain autonomously which means that a computer program can be designed to fill the roles presently held by humans.
The Blockchain allows networks to be set up all over the world, communicating with each other to handle all kinds of systems. Over the next decade, this technology will advance to such a stage that companies will require less than half the amount of staff to do the same amount of work. This is going to lead to a major jobs shortage around the globe and unless this is addressed it will create a very dangerous environment for humankind. When societies can not afford to pay for life’s basic necessities, they tend to follow crazy leaders which escalates the chances of war.
The Blockchain is the cause of jobs devastation but it can also be the solution. For the first time in our history, it is possible to design a system that provides every human on the planet with a basic living wage. Many countries around the world are already looking at the possibility of creating a national cryptocurrency and in the near future, this will be a necessity if we want world peace.
The real world economy has not recovered since the 2007/08 financial crash. Instead, it has created the largest bubble in the history of mankind. It is inevitable that this will pop at some time in the near future and the fiat financial system as we know it will have to undergo drastic changes to its model. The Blockchain is going to be the new financial system and it will be down to the creators of cryptocurrencies to come up with a solution that offers an equal society and one which humans can thrive in.
It is going to take 20 years to build all of the infrastructure needed to be able to build a fully autonomous society that runs on the Blockchain. It is a critical time in mankind’s history and with the right choices, we can solve a lot of the problems we face. The only problem is that politicians tend to always choose the choice that is the opposite of what they should take. Hopefully, for the sake of us all, this time the world comes together to make the right choice.
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