Why cryptocurrencies will kickstart THE most fundamental economic, societal and political shift ever

Share:

Ever wondered why the industrial revolution hit our society so f***ing big? It wasn’t simply the invention of the steam engine that started this – arguably – biggest shift in economy, society and politics of all times. Without two other major innovations it would have never had the chance to disrupt the way how we live, produce and consume.

In order for the really big changes to take place we need three ingredients:

A new way to produce stuff (i.e. the technological innovation with the invention of the steam engine) A new way to exchange information about stuff (i.e. the information innovation with the invention of the printing press) A new way to pay for stuff (i.e. the monetary innovation with the invention of paper and/or book money)

Last time, the information innovation happened first (15th century), then the monetary innovation (17th century) and last the technological innovation (18th century). This time, it’s the other way around. First, computers helped us to automate tasks (technological innovation). Then, roughly 30 years ago the internet (www) helped us to exchange information at costs and a speed never seen before (information revolution). And since roughly 13 years, we have the digital money to pay (monetary innovation).

So, it seems like we have all the ingredients together again. I know humans are terribly bad in thinking in exponential terms. But just mentally travel back 20 years and imagine what live has been back then. And how different it is today. In just these two decades we have moved most aspects of our lives into the digital realm. What missed, however, was a technology that regulated ownership rights of digital goods without giving that power to a middleman who could take advantage of this trust.

This has changed now. Ever since the invention of Blockchain and its first major use case (cryptocurrencies) we can truly control ownership of our digital goods by ourselves. Cryptocurrencies were just the start. We’re now increasingly starting to use that same technology to govern ownership rights for every kind of digital “good”. Also our highly unique and personal ones (like music, pictures, art, texts, …). This is where NFTs and the Metaverse come into the picture.

The next 20 years will be HUGE. Buckle up! We’re in for a wild ride.

PS: I have written some more lines on this issue for everyone interested but didn’t want to make this post too long (we all have little time) or to link it here in order to not break rule 3.5 (no cross post links). If you’re interested to read more, feel free to contact me.

submitted by /u/The_Book_of_Life
[link] [comments]