Hive: Providing Benefits At A 50:1 Ratio
Technology either grows or it dies. This is no different than life.
We live a world that expands. Society advances due to growth. This comes from one of three areas:
- population
- use of resources
- technology
Of course, many developed nations are seeing population growths decline, with some even having peaked. We saw major progress in the efficient use of natural resources, but that is a double-edge sword since we are dealing with finite assets.
The key to societal advancement has always been technology. This is what disrupted society (in addition to industries), increasing the standards for everyone. Even with natural resources, the better allocation and use of them is mostly due to technology.
We are embarking upon another era of change. Blockchain is certainly going to have a part in this. Here we see Hive starting to establish a baseline from which to grow.
It is not surprising considering the technological trend society rides. We have seen this before , something that should excite everyone.
Massive Economic Opportunity
What is taking place right now is a massive opportunity for everyone who is involved in the ecosystem. Again, this is not something that is novel. We have seen it repeatedly throughout technological advancement. While the media and others want to focus upon the few at the top who are benefitting, they are overlooking the entire spectrum of what truly takes place.
Blockchain is changing the world. This is a rather obvious statement at this point. The technology is going to impact things in a similar fashion as the smartphone. While this will operate mostly on the back end, we will see how life will change for most everyone.
It is all a part of Web 3.0 and that is huge.
Here is where Hive's major impact comes from. While most focus upon the whales, whether we are focusing upon digital assets or people like Elon Musk, there is a different reality.
The economist William Nordhaus has shown that creators of technology are only able to capture about 2% of the economic value created by that technology. The other 98% flows through to society in the form of what economists call social surplus. Technological innovation in a market system is inherently philanthropic, by a 50:1 ratio. Who gets more value from a new technology, the single company that makes it, or the millions or billions of people who use it to improve their lives? QED.
So while many complain about the elite, whales, or wealthy, the true beneficiaries are those who utilize the technology.
With Hive, we are dealing with tokenization. This means the benefits are now monetized.
Keep this in mind as you engage with the technology. Only 2% of the benefits are going to the developers or builders of what you see. The bulk of it, like stated, goes to society (in this case users) by an average of 50:1.
Apple made a fortune off the smartphone. However, what is the impact upon billions of people around the world. There are roughly 5.5 billion users of the Internet, almost 60% of them connecting mobile. Most of the developing world log on with these devices.
How much of an impact did that have on their lives?
Hive: Impacting Millions?
Hive has the potential to impact millions.
Many feel this is pie-in-the sky stuff. There is no way a small blockchain that only a handful in the world even know about is going to change the world. The problem with this is a lack not understanding how the financial system truly operates. When looking at this, most believe it is a monetary or financial issue. This is not the case.
It is one of technology.
Here we see the develop starting to pay dividends. As more is built, this benefit ratio begins to spread. Here is where the snowball effect can take place.
Each success story, whatever that might be, is another testament to the power of the technology. There are certainly issues left to resolve. However, over the long-term, the technological trend is always clear. I believe Hive is starting to ride that wave.
How much value does an immutable, open-source text database have? So far, that has not been fully answered. Nevertheless, as people keep building and expanding, the tentacles start to reach further out. In this situation, it means global benefit.
We do not consider what the impact is by providing the cost of a meal or funding some medicine for an elderly parent. These are instances we saw already taking place on Hive. What is the value of local, clean water? The Hive Borehole project can only begin to estimate what those communities felt.
In other words, since we are dealing with a network that is the basis for financial impact, this could outpace the traditional 50:1 ratio. The IPhone changed the world yet it did not affect the majority financially. Here we have social benefits which are not quantified.
Hive has that component also. However, due to tokenization, there is a chance that we do capture the value of what is offered to a much greater degree. The social layer of tokenization is something still unexplored. My personal view is this alone is going to be worth over $100 trillion in the long run.
The question is what part of that is captured by the Hive ecosystem?
In Conclusion
We are conditioned to look at the world in a linear fashion. Technology does not operate in this manner.
It is no coincidence the greatest advancement in human history was the last 200 years. To isolate it further, we see the last 40 as being a repeat of that.
Going forward, we likely duplicate what took place over that period in the next 20 years.
Advancement comes from many different areas, especially when they start to converge. Here is where the explosions take place.
On Hive, we are seeing something similar. The developers are coding away, continually bringing more to market. This is where the next wave, the builders (or entrepreneurs) enter. These people take the iInfrastructure](https://inleo.io/@leoglossary/leoglossary-infrastructure-computer) and start to expand upon it.
That is when the race truly begins. We need to realize how little was offered to the technical people by this ecosystem. Right now, Hive is competing against the rest of the industry with one hand tied behind its back, a situation that will be resolved in the next year.
At the same time, other development and innovation is taking place. This is offering the users of the ecosystem many opportunities which did not exist before. Here is where the 50:1 benefits start to emerge.
How this is realized is up to the individual. The key is going to be building enough options that appeal to much larger groups of people. Of course, to be able to satisfy them, we have to scale to handle the traffic.
This is what is being worked on. As one of the main developers of Lightning Network just realized, scaling in a secure manner is a difficult dilemma.
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STOPTo support your work, I also upvoted your post!
your first statement has summarised a lot, looking at the hive community I see many potentials added up with serious minded individual. I must say this technology is focused on growth and soon all will be amazed.
A magnificent return on investment. The initial investment being $0 so the ratio is more like 99999999999999999999999999:0
:)
LOL well that is true if you are looking at a financial framework.
From a technological, the developers and project teams are going to only get a minor piece of the benefits created. Look at all those using the blockchain now. What do the original devs get out of since they are gone.
Your post highlights the massive economic opportunity that Hive presents, both for its users and for the broader society. I particularly agree with your point that Hive's potential impact on millions of people is often underestimated.
Blockchain is truly changing the world,
In the next ten to fifteen years,
Many business structures will be changed in a way profitable to only those that has technology mindset.
This is my opinion
No idea.
As Hive creates a significant value for society, looking forward to a day when those who ride the wave of technological advancement will also reap its economic rewards.
As we place stuff in the database people use, this could explode.
Instead of destroying human lives, that's the kind of explosion that will build up many lives in different parts of the world. We need such an explosion!