People Still Do Not See How Cryptocurrency Is The Answer

in LeoFinance2 years ago

As I travel around the futurism sites, places where people are pondering what life will look like 5-15 years from now, I see an interesting viewpoint. While many feel that technological advancements, overall, will be good for humanity, most believe there is a downside. Their view is the major technology companies, oligarchs, and elite will only get more powerful.


The latest comes from Wired which claims that big tech is using the potential of Virtual Reality to avoid social changes that are necessary.

Certainly, this is the focus of mega tech. I already warned about the dangers of Oculus and how Facebook is trying to control the gateway to what will eventually become the metaverse. Also, there is no doubt that technology companies are seeking to get stronger by leveraging their financial might. This is certainly a problem that has to be dealt with.

However, we are far from passive in this endeavor. In fact, thanks to blockchain and cryptocurrency, we are seeing people empowered more than they ever were before. This is the starting point that we all need to concentrate upon.

Anytime I see articles like this, I want to stand on a table and scream "cryptocurrency you meatheads". This is the solution that the mainstream, even technology followers, tend to miss.

Blockchain is a decentralized data storage system. These are still in their infancy in terms of the features they present. Presently, they are not only immutable but also transparent. This is good in the battle against corruption yet does not hold much value for things such as medical records.

That all will likely change in the future as developers experiment with different aspects of blockchain and come up with new innovations.

At the same time, we see the first application that is going global. A way to think about all this is that blockchain is akin to the Internet and crypto to email. It is the first major application that was created on blockchain. There will be others such as digital ID and voting systems. Governance is going to be a major area of experiment over the next few years, something that will likely filter into the "real world".

Blockchain along with tokenization changes the ownership structure. Ultimately, this is what the technology followers with their doomsday views are concerned about. The technology, like VR, is considered beneficial yet not in the hands of Facebook or Epic Games. On this point, I agree completely.


Cryptocurrency allows for new ownership models to take hold. Here again we see experimentation taking place. This is still in its infancy yet will grow over the next few years. With all that is happening, some exciting ideas are bound to flow forth.

Obviously blockchain and cryptocurrency will not solve all of the worlds problem. However, in an era where we are heading deeper into the digital realm, these two technologies will take on added importance.

Both address issues that were previously overlooked when the original protocols of the Internet were established. Blockchain adds more security than we are accustomed to while cryptocurrency makes commerce native. Previously, we required third parties such as PayPal to transact in this manner.

We can see how this will only become more of an issue as we merge with our technology to an even greater degree.

Ben Goertzel, founder of projects such as OpenCog and SingularityNet, as well as one of the foremost AGI researchers, had this to say about the Big Tech situation:

Big Tech may have won the iterated gambling game regarding conventional fiat money, but we can make up new games, in which participants cooperate in making their own new kinds of money, and unleash our new decentralised AIs within these new game universes, which can then do battle with Wall Street which long ago cemented its dominance of the finance world. DeFi, though, is a whole new ballgame.


He is a terrific ally to be on this side of the battle. At the same time, he is absolutely correct. There is nothing that says we must play by the same rules that exist.

We are forging new ground. Just like online shopping changed the rules of retail, we, too, are embarking upon a paradigm shift. Also, we must note that Amazon and others did not ask permission before changing the rules. They simply did.

This is the key. To combat what is presently taking place, we need to build. However, what we build does not have to align with our present world. In fact, it is detrimental if it does.

We are basically in the first generation which means we are still dealing with reference points. What this refers to is that first generation technology often resembles something that existed before. For example, the first personal computers were used as electronic typewriters because that is what people could comprehend. It provided a reference.

They did not envision a computer being a handheld device that accessed the world's knowledge base in a matter of seconds, information that could be sent to 4.5 billion people.

That concept of computing was beyond understanding.

By the same token, what is too far-fetched for our minds today regarding cryptocurrency and blockchain? We are still dealing with known reference points. In other words, we are creating social media and financial applications that mirror their centralized counterparts. This is, of course, part of the evolutionary process.

However, what comes next? That is where the path we are presently on veers off in a completely new direction. It is also how the established entities find themselves in a great deal of difficulty.


Newspapers, early computer companies, record labels, and a slew of other entities found themselves in extremely hot water once the shift took place. We can expect the same thing to happen here.

If you are old enough, you will recall when the standard in computing was "IBM compatible". Today, IBM is not in the personal computing game. Naturally, it is still a successful company, something not all can say. However, it had to transition.

Most companies fail to do this, which ends up being their undoing. We are likely to see the same thing happen to some that are household names today.

The evolution of these new technologies is just beginning. This is something that we must keep in mind. Few radical shifts happen overnight. Instead, they are slow to develop, often looking like very little is happening. However, there reaches a point where everything changes. Suddenly, the advancement is such that is can no longer be ignored.

As we see with electric vehicles, that point can often happen with only a few percentage change. It does not require the majority to shift for success to take place.

This is the point we are still trying to get to with blockchain and cryptocurrency. It is so early in the game that even those who understand and watch technology do not see what is happening. It will take a few more years before it is evident to those people.

Personally, I feel the future is much brighter due to these two technologies.

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There is definitely a huge change and many companies will die if they can't adapt. It's amazing how fast companies go out of date.

I personally remember Gamestop as the example of a company which I believed had a great future but has essentially dropped rock bottom due to not realizing change. When it first came out, customer service was great and games were cheaper compared to other places. However as things turned digital, both games and walkthroughs became something people needed less. I don't like how the store is only pursuing profits and their change towards digital was too late. I still think the company can survive and restructure to current standards but I have yet to see their conviction to do so yet.

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It is a story we see happening over and over. Kodak and Blockbuster are the epitome but there are other examples. Circuit City along with Radio Shack were very successful chains that ended up bankrupt.

Over the next decade, we will see a lot more.

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Time for change not only in FinTech, so many online facilities will open new horizons.

Recording everything where everyone owns a computer is feasible, large banks of "cloud services" held by corporate world will possibly become a thing of the past.

More equal footing throughout the world hopefully!

@tipu curate

Large entities are going to be surprised in my opinion. Things are slow in terms of their impact now but that will not always be the case. Each development provides more opportunity for change.

It is a process, one that was done numerous times throughout human history. The old simply does not stand a chance when technology starts to advance.

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Tides needed to turn, when technology has accelerated in growth over the last twenty years at the rate it has, yes change is now imminent.

Ironically, the pace we saw the last 20 years is nothing compared to what we will see in the next 20.

There is so much taking place that the digital transformation will only keep growing in power.

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Digital transformation is happening at an extremely fast pace, hopefully with change not too many sit without employment in the coming days/years.

Younger generation really have to be selective moving forward in whatever they chose to study into.

Upvoted 👌 (Mana: 70/112) Liquid rewards.

Good morning Task!! Another great blog. Love readig your contributions. It's as wild a place as any this cryptoland. Grateful to venture alongside great users like you!!! Thisvis quite a journey. Stay safe! Have a fantastic day. 😃

Great to see you here @yogajill. Drop in anytime. Been missing you.

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No they don't, at least not yet. And many crypto people if they can be called like it are just a bunch of speculators. The essence of crypto is to substitute the traditional means, to decentralize, to provide clarity. The day we understand that is the in the use and adoption where lies true success, our hands wouldn't be that soft. Regards boss.

I agree. Most people who are in crypto truly are not "in" crypto. They talk about it or speculate on it but, to them, it might as well be a stock. They only care about making money, which is important, but not the entirety of it all. We are here to lay the foundation for changing the world, something that few are enlisted upon. Instead, they just want lambos and mooning without going through the process of actually changing things.

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Even with blockchain technology and decentralization spreading there will be all sorts of "Justin Suns" that will try to hijack the technology for their own gains and it won't be an easy fight, but I hope blockchain will mature and improve thanks to incidents like that.

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We see it with Bitcoin. That was hijacked by Wall Street.

But like Sun, there is a solution to decentralization and distribution. Just like Linux took over the server world, blockchain will take over data storage in the future.

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In the early history of computers, many people distrusted this new technology because they viewed computers as the tools of the oppressor (giant corporations like IBM and vaguely menacing government agencies like FBI). Once the personal computer came into existence, and access to computer power was decentralized (democratized), then things changed. Perhaps it's the same with blockchain and cryptocurrency. These two words are actually kind of cryptic sounding and somewhat creepy. It doesn't help that they are also difficult to explain in non-technical terms. They sound like something cooked up by shadowy figures in an underground bunker. Once people realize all the personalized (and decentralized) options available in the crypto-sphere, then they'll be more likely to adopt the technology. In other words, the idea and practice of blockchain technology needs to be made more user friendly.

You are right. We see this happen over and over. People resist technology to start but, after improvements, and perhaps psychological changes, they embrace it.

I think this is more common among the younger generation who grew up with change being a constant. It is the older generations who are averse to it and resist.

Of course, each day, the older people are dying off and the younger ones are accounting for a greater percentage of humanity.

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It was a two edged sword though. Yes, in some ways computers did provide a level of freedom that people never imagined. However, computers have also provided organizations, such as the FBI you mentioned, powers of surveillance that Stalin would have drooled over.

Yes, this is true. We're now in more danger from computers than ever before. But I think in terms of adoption of computational devices by the general population, the personal computer (Apple) made it easier for people to grasp the concept that the computer can be a personal household appliance instead of an impersonal mainframe in some building.

It was a two edged sword though. Yes, in some ways computers did provide a level of freedom that people never imagined. However, computers have also provided organizations, such as the FBI you mentioned, powers of surveillance that Stalin would have drooled over.

It takes time for big ideas to turn around an entire society. We have seen it with all greater invention, maybe not the war-inventions they tend to get adopted fast. But when it gets adopted it's gonna rapidly change how we see and interact with the world. I'm thinking like it took sometimes before people got the gist why a car was so much better than a horse.

It does only take a few big ideas but it takes time for them to filter throughout society and the masses to embrace them. People simply do not embrace change very quickly.

We are getting better at it but it is still slow for many people.

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So much has yet to happen with companies we have never even heard of. I am hoping people start to understand by learning how powerful the blockchain and crypto are and what the benefits are.

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The masses will not clue in until it is on top of them. That is how things always work.

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I'm often frustrated by my friends, family, and neighbors. I live in an extremely red state. Most of my neighbors agree that the government is terrible, the Fed needs ended, and Wall Street is corrupt. I bring up Bitcoin, and they immediately claim it's a scam. "Only gold and silver are money." I try to tell them gold and silver are great, but that Bitcoin is also great, but they think it's a plot by the globalists to take their money.

Unfortunately the news paints crypto in bad light. Instead I think it's better to promote how crypto can earn you a bit and change their point of view. Think of it this way, it might be a little inconvenient but using Presearch and Brave browser will net you a few extra dollars a month. Eventually when they are use to it, you can invite them to blog on HIVE and earn money.

Tell them that even banks like JP Morgan is thinking of creating a crypto stable coin because 1) it is resistant to being hacked, 2) Give more interest for adding liquidity than a normal bank account and 3) faster transaction time.

Thinking out of the box is a good thing to do to slowly push them towards acceptance to crypto.

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Many felt the same way about the Internet a couple decades back too. Now, all those people the OP is referring to is online with their phones, laptops, and televisions.

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I try that tactic sometimes. These are mostly NOT computer savvy people so using any browser that isn't installed on the machine already is a stretch for them.

Ah that's unfortunate. There's not much we can do if they are not tech savvy. It would be too hard to describe.

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Ask them what value will pieces of metal have in a world that is digital/virtual in nature?

Of course they might not be clued into that.

Ironic how many people talk about the only thing having value is physical in nature yet they do that on the Internet.

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Well, these folks are expecting an EMP attack by North Korea or China any day now and think that a Mad Max scenario is imminent. "What good is your digital currency when there ain't no electricity college boy?"

Do they like to miss because it is something that does not "originated" from a corporate?
Do they hate the fact that "Crypto/Bitcoin" acknowledge that current financial system is a failure and needed a change.?
Or it is simply just "law of inertia" , people do want to change the way of their thinking ?

I guess few do not understand/don't want to understand and majority is little shy in acknowledging it.

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I guess the idea is too much for them to comprehend. The look at technology but do not fully connect the dots.

It is a hard transformation for many to make.

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most people are into cryptos because of the money aspect. they wanna get rich quick and another reason is all the hype from "influencers" Aside from that, they aren't making their own research and don't actually see the bigger picture, what problems are solving and how/why are the future

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This is part of the reason I think it would be really smart for Apple to open up some form of decentralized or even centralized exchange. I know there was talk about it, but I am not sure how legitimate it was. They have to know that they are not always going to be able to rely on the iPhone for the bulk of their sales. I have a feeling they have been thinking for years now about what the next big thing they can do would be.

I could totally see big tech getting people so immersed in VR that they struggle to live life in the real world. This has been a plot in countless books and movies.

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The problem is what is the real world? How real is it especially once we have a digital layer over everything. When you are walking down the street and imagines are projected into your contact lens (or whatever) that are virtual displays, what is real and what is not.

Is music in digital form any less real than when it was a record? I would say it is not. The same with video. SO why do we think that experiences, if technology can replicate it, will be any less real?

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I understand what you are saying, but there is a definite difference. People wouldn't spend hundreds of dollars (myself included) to go to a concert if the experience of listening to it at home in digital format was "as real". I think they both have their merits and benefits, but one is definitely more visceral than the other. In my opinion anyway. I'd argue that life denotes realism, but then I am sure you will say something about AI being considered life in the future (or even now)... :)

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I think you will have a different viewpoint by the end of this decade/beginning of the next one.

The merging of the digital/real world will be complete by then. Virtual worlds will appear to us as real as your living room is today.

This is the direction things are going.

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You may very well be right! I wouldn't mind myself a personal holodeck!

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Another great post! You always make the reader think. I totally agree with the fact that we can't even imagine today some of the places this new technology will take us. With the increasing power of technology, the leaps that can be made utilizing it become that much greater. It used to take an entire room to hold a computer solving math equations. But, by using that computer to solve those equations, creative minds were able to come up with better technology to both improve the computer itself, and also to apply it to more use-cases. And then those, in turn, helped create even more and on and on. We're at the point now where the technology is really only limited by our ability to ask the right questions. As soon as we figure out the question, it is not a very long leap to finding the solution. Amazing times that's for sure.

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How far away are we from having out technology create new technology?

We already have 3D printers printing out replacement parts for 3D printers. We are probably near the point where software is going to start writing more software on a regular basis.

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I just have joined Hive and everything is a bit strange for me. But reading your article really encouraged me. That's the reason, why I am looking for places like Hive: decentralisation.

Welcome to Hive @mapetoke. It takes a while to figure out all that is going on.

Take it slowly but you are getting involved in a good manner: commenting.

Engagement will really help your path here in my opinion. Keep leaving applicable comments and you will find success.

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Hi Tasky.. Interesting thoughts. Another application where I see Blockchain flourishing will be in reputation systems, in the world where online presence creates immutable digital foot prints that is transparent and secure,...something of that sort

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Reputation is certainly one of the areas that things can be improved. We will see what develops over the next few years as we get more "digital" overall.

A way to distinguish for quality people from the scammers is vital. It is all interesting and the possibilities are amazing.

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Ecactly. You get my idea

I'm sure in just a little time, people will realize and wake up! And when they do, that will be the sweetest era of digital currency

People will get on board, sooner or later.

Just like they did with the Internet.

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This is good in the battle against corruption yet does not hold much value for things such as medical records.

There are much benefit that most big institutions and governments are reluctantly to accept blockchain. I am not sure why. Banking reject cryptocurrency is a clear that crypto tech take over some of the bank services but I still do not understand that government that promote clean governance still have some issues with blockchain.

Companies like dealing with what they now. The larger they are, the more they believe they can control the market and keep things the same.

This was the case with the banks, a situation we are seeing with many corporations.

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Cryptocurrencies will enter real life very quickly and it will perhaps be too late for those who want to invest in it

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The further we advance, the more opportunity there is for people to be rewarded and incentivized in crypto.

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It takes some time for big idea or an invention (especially revolutionary) to blooms. The invention of blockchain and cryptocurrency gives us a newer way to think about finance and social media. Decentralization is a dream. Computing is evolving too fast that leading tech companies are becoming out of date. I do hope people should try to learn and accept blockchain and cryptocurrency.

!BBH 10

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Command accepted!

Because this is such an awesome post, here is a BBH Tip for you. . Keep up the fantastic work

This is one of the biggest puzzles for me right now. How does it come people don't see decentralization is an answer and blockchain is a tool for that?

Thanks to cryptocurrencies, we have the freedom that we most likely would not have if we depended solely on governments. It's cool to see how things are taking shape. The future will be great with the technological innovations that are already being shaped.

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El bitcoins como moneda principal

Many of them will take a long time to see and understand this... However, sooner or later it will happen.

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The evolution of these new technologies is just beginning. This is something that we must keep in mind. Few radical shifts happen overnight. Instead, they are slow to develop, often looking like very little is happening. However, there reaches a point where everything changes. Suddenly, the advancement is such that is can no longer be ignored.

@taskmaster4450 you are always making great sense...I totally agree with you...

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