Cryptocurrency: Greatest Wealth Transfer And Creation

in LeoFinance7 months ago

There are few who would argue that the wealth distribution around the world if skewed. The inequality is at an all time high and appears only to be getting worse. This stems from the fact that the incomes of the few at the top far outpaced everyone else in terms of growth.

All this leads to a situation where we have a handful of "haves" while the rest are "have nots". Certainly, there are many who are doing alright yet that number is dwindling. Over the past 40 years, in the developed countries, we saw the middle class carved up. Few left this realm by moving up. Instead, the vast majority exited the middle class by heading down.


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As we enter the digital age, this situation is only getting worse. Everyday, billions of people spend time online generating enormous amounts of data. Unfortunately, while they are the creators of this valuable commodity, they are not the owners of it.

This enables companies such as Facebook, Google, Alibaba, and Amazon to clean up. They control the entry by having the platforms that people spend their time. Over the years it became very difficult to escape them. Now, as we progress further down the road, we see a battle for the in home operating system, as an example, which pits Apple, Amazon, and Google against each other. No matter who wins the race, it will not be the average person.

Blockchain and cryptocurrency are looking to change this. For the first time, perhaps in history, we can see how average Johns and Janes suddenly are on the same level as these companies. This is creating an environment where, by 2030, the data ownership situation could be reversed.

Anyone can create a cryptocurrency. This is a big deal. Here we see the the ability for any community to monetize what they are doing. The key is to own that information that is being created. Presently, all our web surfing, social media posts, tweets, and emails are owned by someone else. Cryptocurrency can change that.

By operating on a decentralized blockchain. the community itself can get together and maintain ownership. This severely alters the landscape.

At the same time, there is incredible value that individuals are receiving. Through tokenization, people can get a few cents off each online activity they do. While this is not a great deal of money in most countries, it quickly adds up.


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Here is where we see the flipping of the situation. Instead of the mega-technology companies, i.e. Wall Street shareholders, benefiting, we are now the ones who receive the financial uptick. By the end of this decade, billions of people will be receiving "compensation" for what they do online.

Another factor in this is the wealth that will be created. In addition to all the data presently being generated, innovation is just starting to kick in. As billions are able to operate in an environment where they control their creations, they are further spurred to innovate more. Thus, we will likely see a "creativity explosion" over the next decade.

This is taken to another level when we realize it is all operating in the digital realm, which moves much faster than the physical world.

When the users profit, we see the incentive system keep growing. Exponential growth cannot help but to take place since it is in the individual's best interest to keep moving ahead. When this spreads across hundreds of millions of people, we can see how the impact will be profound.

Every layer of our digital world requires a complete reversal. Owning all that we do is vital to the future of humanity. When property laws were rewritten centuries ago, it spurred on an industrial age the world had not seen up to that point.

We are about to embark upon something of equal magnitude in this era. The unleashing of the digital power across billions of people will be profound.


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One of the biggest contributors to wealth inequality is that most people do not have a financial stake in our system. They simply do not own stuff. Instead, those who are getting further ahead are able to cash in since they have ownership of most that goes up in value.

Blockchain and cryptocurrency change the ownership game. This opens the entire digital realm to each individual to benefit as he or sees fit. Over time, as more offerings come out, people will have a greater number of choices.

One vital component to all of this is Artificial Intelligence. Presently, this sector is also owned by the select few. For the most part, we see about a dozen corporations and a handful of governments around the world with most of the AI.

This, too, needs to be decentralized. As AI is placed in the hands of individuals, they can autonomously benefit the same way corporations do. Ultimately, the concept of a DAO will be expanded to automated wealth generation. This is something the masses need to share in.

Presently, the world of cryptocurrency is a few hundred billion dollars. This is some serious money yet does not rival the existing financial system. That will change as we progress forward. Not only what is in existence going to become more valuable, but we will see more created.

This will provide a one-two combination that will allow people to serious benefit financially. The expansion in the overall user base will kick off the network effect that benefited the likes of Facebook for more than 15 years.

By the end of the 2020s, we should see an entirely new system in place. The wealth transfer and creation is already starting to take place. Another decade of development will really puts things in a different perspective.

Fortunately, there is little the existing system can do to alter this path.


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Beautifully written! I agree 100%, the way things are right now are completely unfair especially in the social media world or the current financial structure and the benefits or lack there of. Their survival depends on us creating content in one form or another and interacting on said content or consuming their products and services (often excessively) . While they rake in revenue hand over fist with adds and sharing our data to 3rd party companies without compensation to the ones keeping them in business. The world is slowly starting to wake up, clearly hive was born out to try to level the playing field. The more people realize that there is a better more fair and opportunistic model of doing things, it will slowly begin to shift. I see cryptos much like the adoption of the internet. It took a while to become mainstream but once it did , there was no stopping it and cryptocurrencies will be the same. Build it and they will come as long as it stands the test of time for the first little while. I'm glad to be part of the grassroot movement early on. History in the making!

Blockchain and cryptocurrency change the ownership game

Very important point. I always tell our fellow HIVE Community members that we’re HIVE Owners not users

Thanks for this unique perspective @nathanmars - if more of us had that thought (that we are HIVE owners), we'll be less concerned about the immediate price action and more excited about the long-term developmental milestones.

Well to use Hive you do need to own some HIVE so I think there is a direct correlation in that regard.

Of course most of us have more HIVE than the basic minimum required to interact on here.

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The fact that anybody can easily create his own token, whether ERC20 or TRC20 or the SHTs that is to come, really has the potentials to not only put the power to mint money in the hands of the massives but will also give them control of their data. Really, we are lucky to be alive as this historical trajectory takes shape before our very eyes. Thanks for sharing.

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I would take simply Venezuela case where they are bankrupt and many of the people from there turned to HIVE to make an income and ensure the basic of their living. Not only that but there is a story of a family from Venezuela playing HIVE games to achieve that.

This shows that with cryptocurrencies the world becomes borderless and inequities can disappear if you put the work on it.

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I wasnt aware there were too many from VZ on Hive and earning an income. If that is the case, that is sensational...I love seeing that.

It shows what is possible.

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Great thoughts you're sharing here.

As we enter the digital age, this situation is only getting worse. Everyday, billions of people spend time online generating enormous amounts of data. Unfortunately, while they are the creators of this valuable commodity, they are not the owners of it.

This is just the truth and they are not convince that they are actually making the owners of the centralized platforms richer each day while they (users) get poorer.

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Crypto makes wealth creation and growth available for everyone but will all be able to use it?

Tool is available let see how many use it correctly in coming years.

Race of have and "have not" is somewhat eternal because we all act in different ways if encounter the same situation.

Yes as you said the tools are available with systems like Hive Blockchain now and you don't have to wait for years to use and see the results. There are already projects on Hive that have stareted to do this:

https://peakd.com/hive-193084/@successforall/business-redefined-can-you-really-turn-your-business-expenses-into-lifelong-passive-income

https://peakd.com/hive-193084/@successforall/can-you-really-donate-to-charity-without-paying-anything-out-of-your-pocket-and-rewarded-for-it

The rece of the have and the have not will come to a screeching halt when we - the have not - take the curmps the Have leave for us and multiply it 10 or even 100 times with the crypto and blockchain tech and redistribute it eaquitabiliy. But we have to do it ourselves. It is naive to expect the have to do it for us.

An euquitable wealth distribution = Status Quo - Greed of the have

I truly can see a time where people may began to reject the legacy system. Not entirely but when they see value can be made outside the existing system watch out. The Fed has abused it’s money creation system and truly the emperor has no clothes.

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Definitely true, blockchain gives people the opportunity to own that they have and well build something they can be generally part of. Well said. True ownership is something we generally do not see anywhere. The digital world is changing

Bitcoin and other cryptocurrencies are helping solve finance inequality in its own little way. People in different countries can now conveniently run business together without fear of privacy, security or high fees when it comes to payment as they now use cryptocurrency to make payment.

https://nowpayments.io/ is a good cryptocurrency payment gateway to start with.

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"The key is to own that information that is being created."
That is really the key...
I heard a guy on Max Keiser saying all your own content, creation, interaction should be on a blockchain and your extension would be more like a I.A. (Intelligence Amplifier) , not A.I.
The I.A. is more like the "free version" 😀