I find the myriad possibilities of blockchain fascinating. From tracking produce in smart contracts, allowing for true ownership of digital assets (NFT's) in 'pay to play' gaming, to building autonomous reward structures for communities sharing common interests (as with hive); the applications are vast.
During the last bull run we saw an explosion of ICO's promising the world, thousands of coins claiming products that would revolutionize various industries, which either never delivered or stalled in development due to the crashing market.
Some of these projects were out and out scams like Faceater (seriously if you want to laugh until choke on your coffee reading about my worst shitcoin experience go read my blog at that link), while other projects were genuine, with plans that are still under development. I think that this bull market will separate the wheat from the chaff, relegating the 2017 scam-coins to the peripheries, while genuine blockchain projects with working products like hive surge ahead of the competition.
The idea of the metaverse is the new hype idea in this 2020-2022 bull run... but will it come to anything?
It is a valid and serious question as the same type of hype surrounded smart contracts (on Ethereum) in 2017 - allowing for a thousand crackpot claims of linking various essential industry mechanisms to tokenomics that would change the world as we know it.
Where are they now?
Where are IOTA's smart cities? Or - as you'll know if you followed the link to my shitcoin blog - Faceater's tokenised surveillance technology? The answer is simple, they don't exist, but the teams behind these 'so called' ground-breaking technologies are likely sat somewhere on a south sea island pissing themselves laughing, probably with former CEO of steemit.inc Ned Scott.
Having said all that - having let out my 'inner cynic' - I do see how the Metaverse coupled with various NFT utilities could be one of the many factors culminating in the technological singularity.
The technological singularity—or simply the singularity—is a hypothetical point in time at which technological growth becomes uncontrollable and irreversible, resulting in unforeseeable changes to human civilization.
This merging of humankind and artificial intelligence could define humanity’s future, creating a synthesis of mankind with various technological worlds such as that of the Metaverse. In an increasingly mechanised world where most physical jobs can now be done by machines it seems that the next step is for humanity to derive value (cryptocurrency) through virtual skills and attention.
It does sound like something out of an episode of Black Mirror... but I think we're a lot closer to this technological singularity than some people think.
But, anything can happen in cryptocurrency land! It could all turn out to be hype yet again, and then in 4-5 years the cycle repeats 😂
Only time will tell.
This is why I always take profits on the way up.
Thanks for reading.
To read more about the aesthetics of true haiku, and the difference between haiku and senryu, please check out my recent post:
The image used in this post is creative commons licence, linked to credit beneath the picture. If you have enjoyed this Senryu, please check out my other work on my homepage @raj808.
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