We could be seeing the foundations laid through blockchain and cryptocurrency. Our economic systems are being disrupted as we push further into the virtual/digital world. The basic tenets of production are changing. How will this affect things going forward?
In this video I discuss how we could see the end of of a monetary system (as we know it) in the next half century. As we see demonetization taking place in more areas of life, it only makes sense that our entire economic structure will change.
▶️ 3Speak
Information is everything in the digital world. Since everyone's behavior can be analyzed from their online habits, content they consume and what they buy. I fully expect people to make money online because more things are moving digital. Amazon's model of selling things online is now mainstream and I fully expect physical sales to drop.
With AI, people can just analyze data and create products similar to what we buy and promote it on content their audience usually consumes. The only way for people to maintain their jobs and salary outside of digital is unrealistic. More and more of the world is being automated due to technology improving and unless the government can both pay and create jobs for citizens, people will have no way of making a decent salary.
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Who knows? Maybe we are moving towards a more utopian "StarTrek Future" in which there is no money because all our basic needs are served by automation at al levels... and since there is always a plentiful supply, there's no need to hoard money or commodities... because they no longer have a "value."
=^..^=
I agree on money not being required for the basics in the likely future.
The concept of money will be around and money will be used so long as scarcity exists. The extent of that will depend on the level of our spiritual enlightenment. Losing the scarcity mentality is key.
This is a very, very big question. Will we be capable of transcending the scarcity mentality that seems to be the result of dealing with scarcity throughout our evolutionary history?
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Actually the push towards personal freedom of finances is going on quite nicely unless you haven't been with the times and don't have any cryptocurrency investments going just yet....
So I think you've got some excellent views and great points.
@taskmaster4450 that is true....
The economy structure will definitely change in few years to come and it won't be convenient immediately because we humans are not always quick to adapt to change sometimes but it is necessary and I believe that it will make things become more proper....
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Interesting perspective... I haven't thought of VR as a combination of entertainment and gaming where you get paid to participate. A next generation blogging (as in on Hive, where it's rewarded), or rather a next generation vlogging if we consider vlogging the successor of blogging to some extent.
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Summary:
In this video, the speaker discusses the concept of a post-monetary world, contemplating a future where money is less important due to technological advancements. He acknowledges the long-standing debate between capitalism and Marxism, emphasizing the flaws and historical failures of Marxist ideology. The speaker highlights the advancements and benefits brought about by capitalism but suggests that the current economic system is reaching its final stages, especially with the rise of automation and technology that reduce the reliance on human labor. He explores developments in material sciences for space colonization and emphasizes the potential for a shift towards a decentralized economic system, possibly facilitated by cryptocurrencies like Bitcoin. The speaker imagines a future with abundant resources where many goods and services are digitized and accessible for little to no cost. He introduces the idea of earning cryptocurrency through virtual participation and suggests that information is becoming the main currency as society progresses towards a post-monetary era.
Detailed Analysis:
The speaker introduces the topic of a post-monetary world, envisioning a future where money is not a necessity due to technological advancements. He discusses the ongoing tug-of-war between capitalism and Marxism, highlighting the failures of Marxist systems throughout history.
The speaker emphasizes the role of capitalism in eradicating poverty, creating wealth, and driving technological advancements. However, he suggests that the current capitalist economic model is approaching its limits, particularly with the increasing automation of labor.
Automation through robotics, AI, and advancements in computation is predicted to significantly reduce the need for human labor in the next decade. This shift towards automated production processes may lead to wealth inequality and potentially the replacement of traditional corporations.
The concept of Decentralized Autonomous Organizations (DAO) is introduced as a potential alternative to traditional corporate structures, with examples such as Amazon's aims for autonomous operations. The speaker suggests that advancements in material sciences, particularly for space colonization, may lead to revolutionary changes in construction methods.
Discussions on advancements in vertical farming, alternative energy sources, and transportation highlight the trend towards abundance and reduced costs in various sectors. The speaker contemplates the increased digitization of goods and services, leading to minimal or no costs for access.
The potential for earning cryptocurrency through virtual participation in entertainment and informational platforms is discussed, suggesting a shift towards a monetization model based on attention and contribution. The speaker predicts a future where information becomes the primary currency, leading to a post-monetary society.
The implications of these technological trends on economic, social, and business structures are explored, with references to blockchain developments on platforms like Cordano and Ethereum. The prospect of digital communes and collaborative networks shaping future economic principles is presented as a possibility in this evolving landscape.
Pushing into the digital/virtual world is not a bad idea and I believe so many great projects will come from it which will benefit us all
The demonetization will bring the changes to the way the financial system is currently is ....change is constant and necessary too....@taskmaster4450