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RE: The internet of things and the tokenization of everything

in LeoFinance3 months ago (edited)

Tokenization of everything will mean that everything will be a subject of econonic valuation. And I think it's one of the biggest issues of humanity, that we're stuck in the economic-value-based mindset.

The economic models of these tokens are going to be varied and as a result, they will incentivize different kinds of behaviors, some good, some poor. However, since we all work on incentive of some kind, if we want to reinforce positive behaviors, we have to value them - not only value them socially, but also economically.

I believe it's precisely the problem: we may use the blockchain, but we're still stuck in the old paradigm, where we only care about the valuation of everything. What's the difference how we then reward people? They are still just a value-producing machines waiting to be put to work.

This will not be restricted to online activity either, as it will increasingly leverage the growing Internet of Things (IoT) where smart products will be able to becoming faucets and tools for mining.

Which, for me, means that there will be only less and less spaces where I can still just be a human, and not a pawn in the economic calculation.

Anyway, these are my biggest fears which do not allow me to be so optimistic about all these changes. I'd like to elaborate on this in the future and open up a discussion, will be super interesting for sure!

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And I think it's one of the biggest issues of humanity, that we're stuck in the economic-value-based mindset.

We are guided by it now and everything is already tokenized, it is just that the visibility and value is in the hands of the very few, which causes the problems we are seeing now.

What's the difference how we then reward people? They are still just a value-producing machines waiting to be put to work.

Work is necessary to get anything done - however, what kind of work done, matters. You can make money from mining coal, you can make money from developing clean tech. Which should carry the higher incentive? You can make money from shorting stocks, you can make money from investing into education services. It comes down to consumption - while hospitals face a shortage of nursing staff who are poorly paid, A basketballer or a footballer can get 50 million a year - how many nurse salaries is that for an individual player? How we consume matters too.

Everything is based on supply and demand of some kind, even if there isn't money involved. While there are many risks to tokenization like this - the bigger risk is believing that people will en masse "do the right thing", because it is the right thing to do.

All discussion in these areas is interesting!

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Thanks for the reply. I agree with you in all your remarks that you've made in the comment.

(...) everything is already tokenized, it is just that the visibility and value is in the hands of the very few (...)

So right. Bringing the visibility into how everything is tokenized is the right move, but is still a move within the paradigm. I'd love to explore possibilities of how we could try to step out of the paradigm. I believe blockchain could be a way to do it!

Work is necessary to get anything done - however, what kind of work done, matters.

Definitely, I am not against the concept of work is necessary. On the contrary, I believe that fair and honest work is one of the biggest virtues. There's a saying that you are what you eat, but I'd also say: you are what you work for. And here's the cornerstone. Currently most of people (especially in the West) work to earn to consume. And whether we pay in dollars or in bitcoin or hive does not matter all that much. The reason we see all these bubbles in crypto is exactly that, people still see them as a way to amass wealth to be then consumed, and not as a way to shift the entire paradigm. And I think here your post and my outpourings meet, so let's leave it at that for now :D Maybe I'll be able to write a post on these topics as well soon :)

Thanks again for the post and the comment, there's a lot of value that you bring to the community with your posts and I enjoy them very much. Greetings!

I'd love to explore possibilities of how we could try to step out of the paradigm. I believe blockchain could be a way to do it!

This is through the ownership model. THe problem currently is that the majority of people don't own anything, even the things they value in their life like their social media accounts are not theirs. Bringing ownership and responsibility back into activity makes a difference.

From here, this is where the "fair and honest" work comes into it, as currently most people are working for other people, getting only a fraction of the value they put in, while the top passively skims the majority.

Have a great night - time for bed for me :)

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