What if the entire concept of purchasing power and money are only an illusion?
So let’s look at 5 things
- U.S. Dollar
- Universal basic crypto
The U.S. dollar is currently the world reserve currency for all economic and global transactions. Theoretically it is backed by the full faith and credit of the United States treasury. After World War II countries linked their currencies to the dollar, which was at that time backed by gold. The gold standard ended in August, 1971 when President Richard Nixon announced that the United States would no longer convert dollars to gold at a fixed price of $35 completely abandoning the gold standard. The recent global pandemic has brought speculation about a digital US Dollar. More on that later.
This brings me to the topic of Gold. A lot of people believe that Gold is real money.
They think of Gold as a store of value, a tangible asset they can touch and hold.
The so called Gold Bugs believe that the price of Gold will rise exponentially as a result of the massive Money printing by Central Banks.
As far as practical uses you cannot eat a bar of Gold and you cannot easily spend Gold in a grocery store. Granted you could have a credit card and spend your gold fractionally in theory same as with bitcoin. Which leads us to the digital gold or millennials Gold Bitcoin.
The real or intended use of Bitcoin. Bitcoin was originally intended to be a P2P protocol payment system. According to many internet sources and wikis Bitcoin is the first decentralized digital currency. It was allegedly invented by an unknown person or group of people under the name Satoshi Nakamoto and released as open-source software in 2009.
The system was intended to be peer-to-peer, and transactions to take place between users directly, without an intermediary. In recent years mining pools have become concentrated due to the need for ASICS and other high speed processing due to the increase in computational difficulty.
The explosion in price from fractions of penny since inception has brought on an enormous amount of miners conducting proof of work which essentially through consensys mechanisms are acting as third parties in the system. This is totally contrary to the original P2P protocol intention in the original white paper.
The recent global pandemic has brought speculation about the birth of a digital US Dollar. We believe this is the gateway to Universal Basic crypto.
Everything in life has 2 sides a blessing and a course. As technology advances jobs will be replaced by computerized equivalents, such as self-driving cars, and robots with artificial intelligence. A new category internet staples will emerge! Every individual will be required to have a digital wallet and a blockchain enabled smart phone with a unique ID in order to receive universal basic income via the Digital or Fed crypto dollar. Major corporations such as Samsung and HTC are working on devices with Crypto graphic processing to potentially eliminate security risk and flaws.
Imagine a future where a blockchain enabled phone authenticates you via your finger print, your voice, your face and a unique avatar with a digital signature. The major benefit of automation will increase productivity to a level that makes 2 day work weeks and universal basic income via a crypto dollar a viable option. Many worry worry that future automation and general AI will lead to an I-Robot like outcome. We believe that many of the the fears of Ai causing robots to be sentient and and revolting is misguided.
We have entered The area of super havs and have nots. The recent pandemic has brought No pay culture to the forefront. If anything without Universal Basic Crypto. The people will revolt before the Robots do.
Lastly let’s look at innovation.
Today we moved beyond the theoretical benefits of blockchain, to generating very real revenues and cost savings.
In the future E-commerce will be dominated by companies like Alibaba, Amazon and Pinduoduo using blockchain technology for payments, Authentication and supply chain tracking.
Walmart is pioneering the supply chain digital revolution using hyperledger in partnership with ibm tracking mangos and 25 other food items with the food trust blockchain.
Future distributed networks with different degrees of decentralization will build trust and align incentives. The internet of Blockchains will integrate information within and across enterprise boundaries streamline and accelerate processes, reduce or eliminate the roles of intermediaries.
Every supply chain will consist of global distributed teams paid instantaneously at the completion of each task via smart contracts.
Software will tie the entire supply chain together, making analysis easy, cost effective and fast in real time, future supply chain modeling, including statistics, regression, optimization and probability – will be augmented in real time with blockchain technology.
Nestlé used Amazon’s blockchain product to help launch a new coffee brand, “Chain of Origin,” where consumers can look inside the coffee’s supply chain: They can scan a QR code to see at which small farm the beans were planted and where they were roasted.
Mobile Open Blockchain Initiative (MOBI), which is made up of a consortium of auto manufacturers including Honda and Ford. Was launched in July of 2019. The auto industry’s first blockchain vehicle identity standard, which gives new cars a digital identity.
The future advances in automation, Robotics will lead to an internet of everything that incorporates blockchain technology allowing us to live in a world beyond imagination .
After all as Michael jordan said at his NBA hall of fame induction speech “impossible is often only an Illusion “.
Disclaimer This article is for informational purposes only and does not constitute investment advice. Disclosure The author may hold Bitcoin and/or Gold.
This this article is for informational purposes only and does not constitute investment advice. Any one considering an investment in cryptocurrencies should consult their own financial advisor.