Hello dear friends,
Today I want to digress a bit with you in these times of quarantine. I think I will be somewhat repetitive, not only with myself, in repeating the thoughts of others about the effects on the world economy. For better or for worse, the system is being disrupted, and it seems that changes will come to our lives faster than anticipated by being catalyzed by the pandemic.
Documentaries about the disappearance of physical money and its impact on work have been circulating in the traditional media, a few years ago it was unthinkable, but let's consider ourselves within the cryptocurrency market as pioneers in this trend: we are one blink of an eye on fulfilling the stage.
Surely among you, there are people more versed in economic issues than me, so as I said at the beginning, this is just a rambling and not an expert opinion. I wonder, what will become of the wallets? both of the men and women, now that there will be no bills and coins, and even, apparently, plastic money will disappear to make way for the strictly digital: yes, that exclusively managed through mobiles and personal computers. Banks have been preparing and reinventing themselves for a long time and they will surely invade, with other institutions in the system and when the conditions are ready, to the crypto market intending to monopolize it.
Bill Gates is in vogue these days, as is Microsoft; Many will know that last year this company registered a patent on a cryptocurrency that will mine the currency based on the physical and mental activities carried out by those who are connected to said system. It sounds futuristic and somewhat scary if we consider that it requires an implant for this. The truth is that technology is converging in this sense by leaps and bounds, just add the controversial 5G networks to the equation, or Elon Musk's SpaceLink satellites to provide a planetary wireless internet network that will seduce more than one.
I have always been an enthusiast of science and technology, to the point of collecting dozens of magazines on the subject, with the rise of the web the digital compendium has exceeded my ability to tackle it in-depth, but now I have my reservations to adopt the advance, almost obligatorily. I wonder what will we gain and what will we lose? The answer is quite obvious: we will gain a lot of comforts to serve the system to the detriment of freedom; the problem is that within the status quo you have no choice, and leaving is very complicated.
Another aspect to consider in the equation that comes to my mind at this very moment, it is the impact that quantum computing will have on the world economy, I sense it will directly threaten renegade cryptocurrencies. I imagine that it will sweep with all resistance at the beginning, while the dissident forces that advocate decentralization and freedom in their various manifestations are rearranged.
Undoubtedly a tricky topic that will need to be clarified sooner rather than later, of course if time permits.
Thank you for having patience and enduring my ramblings.
Original thoughts by @janaveda