For almost immemorial ages, time has equaled money. Although the concept of money has changed over time, even today, people in almost every corner of the world sell their time for money, and in countless cases, money has come to devalue to such an extent that it is almost physically impossible to work to the extent that we cover all our needs. This is how bank loans appeared.
Taking credit from the bank for almost any kind of need, whether for real estate / a home or a car or whatever, considering that time is money, we practically borrow time that we do not have to give back time, in the form of money of course , sometimes almost twice as much as the borrowed value.
Blockchain technology somehow solves the problem of time, having it on its side, in most cases the transactions made on such networks, as well as their security being clearly superior to any traditional financial system, being at the same time much more transparent than traditional financial systems, and administrative ones as well. Hive being an extraordinary example in this direction.
It is difficult to defraud blockchain technology and subject it to bending such as what we are able to see in the banking and political sectors. Hence we can clearly say that crypto, with all that implies currently and potentially, is the chemo of the current global financial and political cancer.
Many years ago, most of us probably called Bitcoin the currency of the future, but it seems that after 10 years it has failed to provide that. Although even Jerome Powel, US FED's Chairman, has called it as an alternative to gold, it's not an alternative to much other than that. We have many other blockchains that can accomplish this task much faster, involving much lower costs. Not pointing to Ethereum here...
Personally, since I entered crypto about four years ago, I keep hearing about the mass adoption of this new technology and about the transition to a new monetary era. Sometimes it seems that we are trying to force this transition, but it will go by itself imo. The way humanity evolves and the speed with which technology runs on progress, forces us to crypto. In hindsight, it was inevitable.
Just as the Internet has opened "the gates of heaven" for information sharing and access to information to almost anyone in the world, so crypto offers access to money and financial services to many people, some of them unbanked. Funds that are no longer subject to corrupt governments, are not controlled by these entities, whose value is determined rather by computational power, safety and reliability of the network, and its decentralized nature and demand. A new era of abundance opened when the first Bitcoin block was mined, and we can say that we are still in the early stages of this revolution.
These evolutionary loops that humanity has passed through and continues to do, have shortened with every loop, becoming inversely proportional to the evolution of technology. Centuries had to pass before man went from horses to auto vehicles, and even this leap was somewhat forced given that the first vehicle was not received with much praise. The same happened with computers and the internet, and as we can see crypto has the same treatment.
An eloquent example of the shrinking of evolutionary loops in humanity's history could be DeFi. Where was DeFi two years ago? It was something exotic, it was more of a simple concept than a sustainable economy and look where it ended up. DeFi is also in its infancy, and yet billions of dollars have been poured into such projects and opened up a whole new world for the concept of a virtual economy. Moreover, some DeFi projects offer its participants access to the too glorious "financial freedom" we have been talking about for years and years.
All this further strengthening the concept that time = money. Crypto is not just about money though, and should not be treated just like a money maker. Crypto is coming to revolutionize everything from financial systems to governments, entertainment and probably even trust among us.
Bitcoin technology and all the spinning wheels in the background is difficult for many of us to understand, at the moment its understanding is often necessary to be able to operate the applications that are built on such networks. In the not too distant future, no one will even pay the slightest attention to these issues. With just a few swipes you could transfer millions all over the world in any currency, put your funds to work for you, or tokenize whatever you're passionate about.
Things done simply generate more time, although this statement is a bit inappropriate, having more time available we can make more money, or in other words "earn even more time". Work, physical and mental efforts aimed at creating abundance will become a thing of the past, in a few decades from now, and only robots will do such tasks. Even content creation on blockchains such as Hive could be AI created and generate wealth for their users, but that’s a topic for another post.
Images courtesy of unsplash.
Thanks for attention,
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