Web 3.0, 4th Industrial Revolution, And A Massive Explosion

in LeoFinancelast year


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We truly are in the midst of exciting times. There are changes that are going to take place over the next couple decades that will dwarf what preceded it.

The pace of advancement and innovation is increasing. Since we are starting out at a higher baseline, the leap forward is exponentially greater than before.

Today, we see fancy terms thrown around that are not quite defined. Phrases such as Web 3.0 and the 4th Industrial Revolution are bantered about without really providing a clear definition. There is a reason for that. When dealing with technologies, it is difficult to forecast exactly how the will unfold. We then have to couple it with the fact of determining those said technologies will blend with society. As always things become clear in hindsight.

I was watching a video this weekend and the interviewer asked the question of whether or not it was too early to call the automobile manufacturers "in trouble"? The point of the interview was Tesla and how far advanced they are. The guest is a major bull so the interviewer was trying to bring up a contrarian point.

My thought when viewing this was "was it too early to proclaim Nokia in trouble in 2007, the year the IPhone came out"? Again, in hindsight it is easy to see the impact something has. As it is happening, it is obviously less clear.

What I can tell you going forward is we are going to see a massive explosion. The 4th Industrial Revolution is going to see productivity ascent to levels few dream about. This is not without precedent though. Economically, we saw a similar explosion due to the 3rd Industrial Revolution. The big difference is, today, the numerical starting point is much bigger.

The previous stages all saw huge growth.

Here is the impact on GDP in the United States.

1st: 12x
2nd: 40x
3rd: 7x

https://www.nextbigfuture.com/2020/01/technology-revolutions-should-enable-ten-times-the-production-of-the-prior-generation.html

When we look at the potential of AI, robotics, and other forms of automation, it is not difficult to see how this could be the case. My prediction is that we are going to see a 10x of the global economy in the next 15-20 years. We can expect massive growth rates from areas like India and Africa. Before this phase is completed. we might well see a 50x growth from where we are today.

The key reason is the compounding of technological S Curves.

Technology goes through a S Curve cycle. Upon introduction, there are very few users, high cost, lots of bugs, and great potential. As development takes place, the technology improves, prices drop, and there are more users. At some stage, we see mass adoption causing huge growth. Finally, the market matures, seeing things slow down. About that time, another S Curve is developing on top of it to pick up where that one left off.

What is interesting is that the technology we are dealing with today is not isolated or focused upon just a specific industry. The same technology has the ability to radically alter a cross-section of sectors. Take 3D printing as an example. The area of potential is obviously manufacturing. However, we are seeing it already impact medicine, dentistry, food, and construction.

Blockchain and cryptocurrencies are two technologies that are going to span the entire business sector. There is not an industry that is except. On Steem, we already see the expansion outwards from the original application. Initially a blogging platform, we now see gaming, video creation, health and exercise, and charity. Decentralized Finance is offering an alternative to traditional investments, allowing for the spreading out of wealth over the next decade.

One of the vital factors that a blockchain like Steem provides is the ability for all to partake in the massive economic explosion that is going to take place. One of the major drawbacks to the present situation is that most of the growth over the past 30 years fell in the hands of a select few. The majority did not share in the economic progress.

A lot of this is due to rent seekers who took a big cut of all activities. This enabled them to amass greater control by buying up other companies.

Blockchain and cryptocurrency can help reverse this. We are already seeing a system with less friction being erected. It is also less costly to operate upon. Plus, with staking, people who are users actually have a piece of the entire system. This will, in the long run, change the financial fates of billions.

They key is to keep developing a lot of what is going to be part of the next major innovation wave on blockchain. The present power brokers obviously want to keep it all under their control. This is where we need to use the technological advancement of the masses to keep pushing platforms like Steem forward.


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Since the 4th Industrial Revolution will be the connected age, Web 3.0 is paramount to this. Many call it the trillion sensor economy where everything is connected. This is going to provide massive amounts of data (the new oil according to some). The key is going to be handling all this data and providing ownership. This is the challenge that is before us now.

The world of 1960 was far different from that of 1920. Major paradigm shifts such as what we are discussing here have profound impacts upon society. Due to the accelerating pace, we can expect to see the equivalent change of 50 years squeezed into 20 (maybe less).

Do not overlook blockchain and cryptocurrency as a fundamental piece in all of this. There is a much bigger picture playing out.

The exciting thing is people who are involved now are in on the ground floor.

Exciting times are ahead.


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Posted via Steemleo

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it's so hard just sitting on the sideline watching.

i need one of these s*** coins to moon so i can just buy servers and write code LOL

Industry 4.0 really is going to completely revolutionize things like manufacturing, supply chain and basically anything at all that can be improved with robotics and AI. And of course the full deployment of 5G will enable the data throughout and network speed to support it all. It’s exciting and daunting to think about. It does seem quite likely that blockchain and cryptocurrency will be integrated - certainly to help to drive the financials, and also ride the wave of change. My baby boomer generation is fairly tech savvy for a bunch of old folks, but the people coming behind us live and breathe tech. Adoption of new technologies and ways of banking, investing and earning will be much more seamless.

The Millennials are really going to change things. They, for the most part, are completely integrated with technology. To them, it is like putting on socks, no big deal.

As they ascend into positions of power in the business world, different ideas and viewpoints will be implemented. The pace will only increase since they are not accustomed to ideas taking decades to implement.

Posted via Steemleo

Agreed. It’s going to be very interesting to watch!

Our world needs more people like you who are open to change, to better technology. Some good questions might be:

  • What change?
  • Where are the benefits of technology now?

We're in 2020, we're surrounded by smart stuff, still We're so smart that we don't even know what is food.

  • How smart are we now?

I don't know and I don't think we are enough.

  • How wise are we now?

I don't know and I don't think we are enough.

  • How can better technology help us?

As long as we lack wisdom, better technology will only help us better destroy our human nature.
It's painful to notice that people are not aware of the real purpose for 5G, cryptocurrency, AI, Web 3.0 (the internet of stuff). All these stuff that are considered awesome lead toward a world of total control.
People are thrilled about our own enslavement. How sad :(
The cause for this awesome scenario is lack of knowledge so

  • What's the solution?

There is an epic hype about technology, cryptocurrency, AI and what not.

  • What's the point of all the hype about technology as long as people are too fragile to work on our actual challenge?

I work in high tech and I see a lot of different attitudes about it. There are so many positive outcomes, but when people don’t understand it, they can be fearful. And a lot of people fear change.

Here are just two examples of great technological advancements that will make the world a better place:

  • Robotic assistants in factories: the robot does the dangerous part involving heavy lifting, so the human being can get a job done with less risk.
  • Connected vehicle technology: with technology embedded in cars and on street corners, we will be able to automatically brake vehicles, preventing pedestrian injuries and fatalities.

There is a lot to look forward to. 😁

I agree with what you say. Technological advancement has benefits.
When we're born we don't want to self-destroy, still,

  • What do we see in stores?

Children buy poison and stuff that are labeled as food even though they have zero value (with fiat currency or crypto currency) and consume them because after 12 years of education system,

  • Children don't even know what is food or even worse,
  • They’re too fragile to care about themselves, about their health.

What's the cause for this awesome scenario?

My guess is that Technological advancement doesn't stop us from overcoming our challenge, on the contrary: we can use technology to overcome our challenge.

  • Wouldn't it make sense to be in a scenario in which the education system is what's supposed to be?
  • How can we create a scenario in which the education system is what's supposed to be?

Question.jpg

It just happening.

Posted using Partiko Android

Awesome article!
Our world needs more people like you:

  • Who can see further into the future,
  • Who are oriented toward innovation.

Some good questions might be:

  • What are we innovating?
  • What future are we imagining?

There is a huge hype on the topic of Web 3.0, 4th Industrial Revolution and what not, still, it just seems to me that we're missing the point: When we're born we don't want to self-destroy, still,

  • What do we see in stores?

Children buy poison and stuff that are labeled as food even though they have zero value (with fiat currency or crypto currency) and consume these products because after 12 years of education system:

  • People don't even know what is food or even worse,
  • They’re too fragile to care about themselves, about their health.

Nobody addresses the cause of our problem: lack of education in the education system.

  • How many great stuff are possible as long as the education system is a bad joke?

I don't know and I don't think there are enough.

  • What's the point of all the hype about innovation as long as we're too fragile to work on the cause?

Hi @taskmaster4450!

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Your UA account score is currently 6.168 which ranks you at #267 across all Steem accounts.
Your rank has dropped 1 places in the last three days (old rank 266).

In our last Algorithmic Curation Round, consisting of 81 contributions, your post is ranked at #3. Congratulations!

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I learn a lot reading your post :-)

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