Post by Roots

My thoughts on the Blockchain Economy.

With the rising trend of digital currency, our humanity for once are able to regain our power and control back on our ability to be sovereign again. In our current modern financial system, money can be taken away by the authority through the means of ineffective monetary policy. That's not money should work. Gone are the days of "the few" controlling the monetary system. We will once again be back into the age of gold standard, that the perception of money will start to shift as we progress.

Knowledge will be perceived as wealth again. Having knowledge gives us the ability to innovate and gives back to the society. It improves our standard of living. The very concept of wealth is confused with money in our modern age. That knowledge is not the main driving factor of achieving financial success. A system of such neglected the great use of mind.

Back in the days, our ancestors knew that mining raw materials is the way to wealth, it's an indication of a hard-working man. It creates actual value for society, we could now manufacture stuff with raw materials. It is the reason why we have Industrial Revolution. Mass production of goods and services makes you the wealthy ones. As Elon Musk once said, money should be judged based on information theory. That having money doesn't mean anything, if there is no exchange of information. That very concept alone is simple to grasp yet people are misunderstood.

Unfortunately, today we have a new wave of younger generation who perceived money as evil and greedy, that's a very naive and pessimistic view of society. They think they billionaires today are at fault of today's society problem, because of the amount of money they had. But they are tunnel visioned by the fact that most billionaires exist because they created a lot of value to society. Amazon gave us E-commerce, Apple gave us easy access to information and even looking back, how agriculture solve food shortage issue etc.

However, we have a rising trend of big tech company "abusing" their power to absorb all the value of the new emerging economy under the disguise of free products and services. That notion alone, created an advertising business model where the consumer who use the internet are the product and not the user. Every information on the internet is close to free, that no one are gaining by the work they produce unless they charge money. But the perception have not shifted, why pay when you can access free… duh.

Personally, I strongly believe this model will change as we progress towards the Blockchain Economy. The new internet somewhere around 2026, where everything can be priced and valued but in micropayments, we pay for what we deserved... An exchange of information that are more negotiable between both parties. It's more effective if you think about it, not everybody paid for their YouTube subscriptions monthly also consume YouTube content monthly. There are days where we are busy with life that we might just wasted our subscription. Big tech like YouTube gain more than deserved from this model alone.

In the future, every individuals are able to create value on the internet, gone are the days of advertising free model. Now we regain our data sovereignty, everybody have their chance of earning. Advertising, AI, Survey etc companies will be required to pay for your data usage to improve their services. That empowers the collective as information can now be priced. It's the embodiment of individuals acting based on self interests to pursue greatness in the collective world. We start valuing our great use of mind through self interest then we produce value to society (collective).

How beautiful Blockchain Economy could be… I am excited, how about you?