This video is an opinion - rant of mine about the future of distributed tech and the crypto space. I hope it gets your imaginations going a bit. It is clear that the chaos of 2020 is speeding along innovation and moving time tables up dramatically. The pace of innovation and news is heart stopping!
I don't have time to study everything in the space, so leave a comment about the most cutting edge use cases you've seen for crypto, blockchain, and distributed computing. Or, what do you see in our future?
This post turned into a rant of its own! I assume that nearly all the hurdles for decentralization tech will be overcome in the next 10 years. Peer to peer, distributed systems will be the norm and continue to marginalize central power structures.
Personal Data Future
I see us each having our own personal blockchain or private, secure network. It will be encrypted, validated by peers, lightning fast, and contain our important data. Different institutions and companies will have the right to validate parts of our own histories with their keys.
Our resumes, medical history, banking information, and everything else about us will be secure and private. This tech is already far along with projects such as Blockstack, privacy coins, and many others.
Medical Applications
Use cases for crypto technology are being implemented in the medical field, too. Along with the idea above where our private, encrypted info follows us, so will our medical records.
Facilities and doctors will be granted access to our histories. We will have our own signatures with us to unlock our data. It might be a phone app, on a watch, a card, or maybe some type of bracelet.
Our complete medical past will be available within seconds. This will reduce tragic mistakes and increase the effectiveness of treatments. All of our medications, surgeries, DNRs, donor information, allergies, etc. will be in one place and secure, but accessible quickly.
Cryptocurrencies and Value Exchange
Huge progress is now being made for cross blockchain functions. Various projects are tackling scalability, fees, and speed issues that have plagued the crypto space for years. Governments across the world see the writing on the wall for value exchange.
Fiat currency and cryptocurrency are easily transferable on our phones now. Assets such as precious metals and stocks are being represented by digital commodities as well. This will continue to trend upwards. What this means is the importance of different currencies will fade into one global pool of liquidity and value. Everything will be instantly transferable to everything else.
If all currencies and all crypto can be quickly and cheaply traded, it will be similar to having one world currency. XRP is the leader in this vertical, but there is a horde of projects working on payments.
The old guard banking and foreign currency oligarchs are fighting to maintain their dominance. It is a losing battle against the open source, distributed revolution. They have used the bottlenecks of international exchange to charge huge fees and exercise control with it. Liquid assets for all is freeing everyone for trading and banking.
I imagine that in the near future, we will use crypto and fiat to pay for everything. Uphold (here) is already well down this path. At the point of sale, our phones will instantly exchange into the correct currency and complete the sale.
Gigs and Jobs
There are a few major trends that are converging to transform the idea of work. For one, the exchange of value is being freed. Thousands of millionaires are being created in this "greatest wealth transfer" of all time.
They are regular people that are now crypto wealthy. Mass adoption will explode this trend in the next few years. The new wealthy have an opportunity to do a lot of good and create many new jobs based on helping one another and the planet.
This new breed of millionaire is not like the "profit at any cost" old rich.
Millions of jobs are going away due to quarantines, bankruptcies, and automation. This is where crypto wealth can and must do a lot of good. I think the near future will have all this wealth go towards jobs that restore ecosystems and put human well being first.
Cooperatives and collectives are seeing a massive surge as people lose faith in government and corporations. These models are incredibly more fulfilling than the pointless tasks we've been doing for decades for the rich that use the wealth for self indulgence and power.
I encourage everyone in the space to research the land restoration projects and permaculture methods that are restoring the planet. It will be a perfect merger of crypto wealth being used to restore our world. There are billions of new jobs in this direction, and "flipping" degraded land can be highly profitable!
The Web3.0 Internet
The Internet is undergoing a profound upgrade on top of these technologies. Apps no longer need servers. Data storage is distributed. Websites are moving onto blockchains where they can't be censored or shut down.
The biggest obstacles to this innovation are the mega corporations that keep most people addicted to their apps. It will take time for people to move away from the Facebook, Instagram and Youtube algorithms that have enslaved them.
They are designed to eat up our time, spy on us, and advertise to us. It will be a long road to get our privacy back. It's been liberating to quit the social media spying apps and I highly recommend it!
I also feel that connectivity will trend towards distributed systems too. Things like mesh networks and peer to peer wifi tech will bring more efficient Internet connections to the world.
Our new Internet will be resilient, private, inexpensive, and easy to access everywhere.
Conclusion
That's my futurist rant for the day! We are living in pivotal times. Everything old is collapsing, so we must learn and teach about the new and the good that is being born. Show your friends and family this new economy. Focus on helping others and the environment as the basis for new business.
The distributed revolution requires more of us using this technology and showing others how to use it. Show them how our privacy is being restored and how efficient, privacy focused systems are being built. Let's turn our backs on the old! It's all dying anyway.
Thanks for reading.
