Automated Token Economy
Our economy is about to go full blown robotic. And frankly most are not prepared or even paying attention. While everyone is being distracted by a false narrative the bots are coming. And this planet will never be the same.
Singularity has been discussed in many circles but has yet to hit mainstream appeal. Wikipedia describes the Singularity as:
The technological singularity—also, simply, the singularity—is a hypothetical point in time at which technological growth becomes uncontrollable and irreversible, resulting in unforeseeable changes to human civilization.
In laymen’s terms technology is about to get cheaper and faster. Imagine Moores law but at it’s end. Meaning costs of everything become so cheap that price becomes irrelevant. Automation coupled with the removal of human labor could mean efficiency spikes. That along with productivity gains(robots don’t need days off) could prove this theory true.
I could go into how this process takes place(maybe in a later post). However, I would like to discuss how our economy could transition. Since very little human labor will be needed how will people make a living? Some believe that humans will be needed to repair the bots(machines). Well what happens when machines can repair themselves? Parts will always wear out. Yet, if an AI(Alexa) can run your smart home she probably can handle a robotic arm. Which means self repair.
Great! Now humanity has become irrelevant. Not necessarily. I believe the blockchain has many solutions. These solutions would solve income issues that will arise from displaced workers. One such solution is to integrate a token earning mechanism into each machine(robot). Each machine is effectively a currency miner. So instead of Antminer earning your tokens you have Johnny Robot earning 24/7. Low cost labor for the company and income for the community.
Once these Robot tokens are earned they can be staked, hypothecated, or used to purchase items from company. And the beauty of this ecosystem is that it can be open to all. All that would be required for the user is a wallet. Pretty simple. Each company can have their own mineable token. The company could also create markets and earn fees for the service.
Now why would any company do this? Well there may come a time when these prediction I’ve written about come true. This transition will occur quickly and without warning. Big tech moves fast and will do anything for the bottom line. And they will not hesitate to replace human labor regardless of PR. Profit motivation may be a factor for this change. Billions of dollars in token value could be created quickly. This in turn will create user brand loyalty and purchasing power that didn’t exist before.
Like it or not change is here. Hopefully people began to understand that automation can be a good thing. An abundant future can exist for all people. Our relationship with money must change and I believe it already has.
Posted Using LeoFinance