We live in an economic system based upon scarcity. This has led to a lot of problems over the years. In fact, it is something that seems to be growing worse with each passing year.
One of the major discussions these days is one of wealth inequality. We are seeing a system whereby those are the top are accumulating the lion's share of the pie. This leaves very little for most of the population.
Technology advanced society a great deal in the last 40 years. It lifted us up to a level which was truly Science Fiction 100 years ago. People have more power in their smartphones than was used to get people onto the moon. We also have access to more information than the world leaders did a half century ago.
Nevertheless, we still have billions starving and suffering without even the most basic in nutrition or healthcare.
This causes many people to question how we have a "fair" system if one person has $200 billion while a good percentage of the population is living in complete poverty?
It also led to many proposals as ways to try to solve the problem. Many are asking how to do we deal with the wealth inequality issue?
Here is seems we are starting from a misguided place. While well meaning, it is bound to lead us down the wrong path. One way to miss a target is to misplace it.
Source
Cryptocurrency is presenting us with a completely different approach to our problems. Instead of a system based upon scarcity, it is one that focuses upon abundance. It also, unlike when dealing with central banks, has a distribution system that is direct. All that is given out goes into the hands of private individuals or companies. It is not issued as debt.
In a world where there is abundance, the idea of haves and have nots can evaporate. There is no need to worry about "closing the wealth gap". It becomes a moot point.
For example, my 3 year old Android might not be as good as your brand new IPhone. However, both allow us to access the same information. So while the IPhone has a few more features, is fancier, and costs more money, the utility of it is basically the same. One is not truly much further ahead with that device over another.
In other words the monetary difference means little.
Cryptocurrency allows for the monetization of ideas. Since everyone has these, the opportunity exists for more people to put them into action. This provides avenues for others to follow and get rewarded.
Just yesterday, @brofund announced a new community that will have near universal appeal. It deals with films and television, something most people are into. Here is a situation where individuals can get rewarded for posting about and discussing their favorite films and television programs. Two days ago this did not exist.
The access to information through the technological development of the smartphone along with the Internet has broaden the base of opportunity across the globe. Cryptocurrency is now going to follow the same path with tokenization, thus affecting the entire financial spectrum.
What this means is that we have the opportunity to turn everyone into "haves". This means that all will have access to the basic necessities required for sustenance. While this obviously involves a lot more than finances, this is the starting point. If the financial resources exist, a market will form in that geographic area.
Technology has a way of improving lives. We see that throughout the history of humanity. There is little doubt that fire, tools, the steam engine, and electricity all help propel society forward.
Within the next few years, the other 3 billion who are not on the Internet will join. This will connect everyone to the world's information base, providing people with new opportunities for education, innovation, and improvement.
We also appear to be, in some ways, heading towards a more decentralized computing world. This means that networks are not necessarily in the control of major corporations. Instead, they are in the hands of communities, who are able to benefit from their progress, including financial.
Most of us look at things as a zero sum game. Many of the proposals trying to solve problems stem from this belief. For others to be pulled up, we need to take from someone else. This creates class warfare that has shown throughout history to not be effective. In fact, the result was usually more inequality.
A little over a year ago, according to the chart from Coingecko, the total market cap for cryptocurrency was $155 billion.
Today that number stands at close to $1.85 Trillion. That is quite a jump in a year's time.
Of course, this does not account for everything. NFTs, as an example, are not in there. Nor are smaller projects that might be worth a couple million dollars (such as CubFinance). Most of these did not exist a year ago yet they are here now.
How many cryptocurrencies can there be? The answer to this lies in the idea of how many ideas, innovations, communities, and projects can humanity put together. Basically we are looking at virtually unlimited numbers.
We will reach a point where anything can be tokenized by anyone in the world. This is the solution to the haves and have nots problem. Each person will be able to interact with others, in many different levels, and be rewarded for that.
This is how we can lift the bottom up. The focus is not what on the haves are doing right now as much as what can be done to alter the path of the have nots.
Those who got involved in cryptocurrency, especially with nothing, most likely find themselves in a different position years later. It takes time and is not easy. However, when one goes from nothing, to having a little bit of something, and that keeps growing, things start to change. Then we mix in a 5x, 10x, or 50x and we see how things can really go on a different path.
What this does is changes lives in a major way.
Technology also has another characteristic that is extremely important. It is deflationary in nature meaning that, over time, it comes down in price, increasing the number of people who have access. In a world that is rapidly moving into the digital, this is very important. Billions more will be exposed to opportunities that are only available today in some of the wealthier areas.
The game is changing rapidly. Innovation is occurring at a pace we never saw before. This is leading to many breakthroughs that are going to enhance the lives of everyone on the planet.
Cryptocurrency is one of the things at the core of this transition. Since it altering the entire financial landscape, it now commoditizes money. That increases it available to everyone over time.
And this is what is going to make everyone a "have".
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The wealth gap is always being pushed by activist but most of what the politicians have done has not helped to close this gap. In fact, I think it has increased due to the fact that the politicians don't have our interests in mind and have shipped the money to their donor and friends.
This is one of the reasons why I like crypto. We are changing the structure of power from the government and it allows people to grow outside the current system. There will be probably be many dead cryptos but having some is better than none. Especially if a token runs 10x or 100x as it should cover a decent amount of your losses. If you don't have money, you should earn it using time and crypto is one of the easier ways to earn it.
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The blockchain and crypto industry has experienced tremendous growth since the crash of the crypto market in 2017.
Crypto companies such as Permission.io have endeavoured to promote mass adoption of their cryptocurrencies via online shopping.
In March 2021, Permission.io listed the ASK crypto on Bitrue Exchange.
After reviewing Permission.io, I feel that it could be a significant player in the online shopping arena for the below reasons:
The website has a comprehensive array of goods to interest shoppers, ranging from clothing and beauty products to electronics and active wear.
It rewards shoppers with ASK crypto for viewing video ads.
Besides paying with ASK crypto, shoppers can also pay through Bitcoin, Visa, Mastercard and many other channels.
Permission.io is currently offering 100 ASK crypto, for people who register.
The world is coming into an interesting age where banks and governments no longer control what class as a commodity to trade but it is put into the hands of the people, you will see a redistribution or wealth on a scale never seen before.
I can see a point in the near future where people will be running to catch the last boat out of the crypto harbour on the good sailing ship hive as i can see it having wonderful uses and people will hodl BTC as though they where gold.
The haves and have nots will have the gap close but it still boils down to being productive as just like a real chain many links makes it stronger.
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This will be a fun day indeed.
We will see how the world looks when we see this end.
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As a child of the Apollo era, I often use that smartphone/moonshot example when I teach science classes. And if kids whine over a "slow" connection, I make them listen to my tales of IBM cards, keypunch machines, card catalogs... !BBH
I think one of the best things about blockchain is decentralized finance.
Thanks to Decentralized Finance, people who cannot reach banks or other financial institutions have made it easier. In fact, we can say that this is the advantage of cryptocurrencies.
No one knows exactly whether Decentralized Finance will affect the banking system well or badly. But at least we know it will affect it somehow. As the mobile applications of the banks improved, their branches closed. Perhaps some banks will close as DeFi develops. Perhaps they will go bankrupt.
Blockchain will be used not only in the field of economy and money but also in many areas and I think it will be much more useful for this Earth system.
Some people don't like being followed as one of the features of Blockchain. I don't know if we can see this as a problem, but projects like Verge will increase against it.
Thank you for this beautiful post @taskmaster4450
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This new distribution of wealth is changing the world, for example in my country someone came and has given work to an entire community has hired cleaning personnel, coast guard personnel, security personnel, has implemented an ATM here, has put barbershops, cyber shops, and convenience stores this has generated a far-reaching micro economy, all in bitcoin, so this has opened up endless opportunities, and poverty is fought, here we have the application called ** Bitcoinbeach ** mounted on a lightning network, which has been a light to fight against poverty since it allows even candy and ice cream to be paid for with BTC, this has meant that even the grandmothers have already entered this world of technologies, this place It is in vogue in the country called ** playa el zonte ** so if you type it in the news you will see that it is a microeonomy centered on BTC, but hey that's how the new trends go around here and if with a lot cha people entering we will have a very pronounced advance sooner than we imagine.
Hi @galberto ,Excellent comment, I love to see you so involved in this crypto world, very good my friend
Thanks a Lot muy friend.
As for the issue of poverty and having 200 billion people in it, it is somewhat relative
Meaning if both of them have all of the factors and one of them has achieved success while the other is still in his place
This is very fair
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This is so exciting!!!!
Im a witness to this, a testimony.....
This is a very important story to tell and share with others. It is a path for others to follow, from someone they say pull it off.
It is one thing to read about people who do stuff, it is another to know someone who was able to do it.
You have a strong testimony to give.
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@mistakili some people that are not active on the internet do not know what they are missing,many people have become wealthy via the internet...
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It is great to find what you love and have equal opportunity even with the rich or with those who are more powerful than you
This is what crypto gives you
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I otherwise agree with your post but I think that's too negative an appraisal of the current situation. What the last 30 years have seen is billions of people lifted from abject poverty into working poverty and maybe a billion or so people lifted from working poverty towards a comfortable middle-class lifestyle. The number of people living on a few dollars a day is currently roughly a billion. Much of this positive development has taken place in Asia. Hundreds of millions of Chinese people are now middle class. India has also seen the rise of the urban middle class as well as many other countries.
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I dont disagree with the progress that was made over the last 30 years. Certainly there were improvements made at many levels.
However, that does not take away from the fact that billions are still in poverty and suffering without the "basics" in life.
While China has done a remarkable job, there are still hundreds of millions still living an impoverished lifestyle. This is also true throughout SE Asia, Africa, and Central/South America.
So what you consider reality is just sizing up the situation where it stands now. Yes we make a lot of progress but there are still a lot of people who are suffering from lack out there.
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Yes, there is still a lot to do.
I think crypto can make it easier to financially include more people faster.
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I'm more interested in the economic system that arises from it. If cryptocurrancy removes the haves and have nots then capitalism can not exist.
The issue with poverty is that it is needed in a capitalistic society. If everyone is rich and well off then that means no one is poor and in need for employment. Without the unemployed then capitalism has no Labor to access.
Job offers would end companies as there wouldn't be a pool to recruit from.
Poverty further creates a bottom line financial indicator. Shops need to factor in poverty in their price listings. If no one is poor then prices are higher because more people can afford them.
It will be interesting to see what comes next, should cryptocurrancy become a dominant financial sector.
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The challenge I see with this viewpoint is that it is locked in to only what we know yet misses a lot of what took place without us noticing.
For example, in the US, even many homeless people have a smart phone. Decades ago, this was only for the affluent. Yet here is something that most everyone has and uses regardless of income or wealth status.
So while they are still poor, they have the same access as everyone else.
If this extended beyond to food and other necessities, would it change the economic system at all? Obviously smart phones did not.
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I remember when I was working on Ask Izzy this was a topic brought up. 86% of homeless people have a smart phone.
We delved into it a little but not much, I think it has alot to do with tech companies making an accessible product in their development and marketing. Their goal was to put a phone in everyone's hand.
I found it odd that companies could do this with a product but not food.
But the topic got really messy as there is alot that is involved in it.
But yes I see your point. I wouldn't mind exchanges having the ability to use gift cards as payment. I've tried a few times with the few I have. They won't take it. But then that leaves the sector open to tax rorting and anonymous purchases and wealth development.
Crypto isn't that anonymous though. Just more risky.
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This is a rather pathetic outlook. It leads to pessimism, fear, general nastiness and ultimately defeat.
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Many like that view, sad to say.
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Economics will always be based on scarcity in that goods and services that are scarce will have more value. It's because this is not a 0 sum game that wealth disparity is not really the issue. Confiscate the wealth of the top 1% and it wouldn't do much for poverty and it would negatively impact the economy in other ways. Ultimately it would be counterproductive. Not only that but much of that kind of wealth exists in the form of corporate ownership, not mountains of gold or cash. The amount that you could reasonably confiscate and redistribute would be far less than their worth on paper.
Poverty is comparatively rare in first world countries and technology is a big part of that. Other parts of the world still need massive infrastructure and tech upgrades as well as the knowledge to make it all work. But until robots replace all labor, we will live in a world of relative haves and have nots. However, technology should make it possible for the vast majority of people to have their basic needs. We still have a ways to go though.
Yep.
Hopefully cryptocurrency is moving up closer at an increasingly pace.
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Wow, that is quite a jump in market cap in just a year. Plus to think it doesn't even include the NFT's and things like that? That is a nutso amount. It kind of makes you wonder what it is going to look like at this time next year.
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It could be 10x that, or it could be half of it.
Crypto markets are funny things as we now.
Of course, there were more tokens distributed on Hive today with the airdrop of CINE. So there is more being distributed. We will see what kind of value it has.
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Yeah, for sure. I staked mine already!
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This is me. I came into this sphere with nothing and now I have some crypto sitting in my wallet because of my social engagement. This is something a lot of people outside this sphere do not grasp--the concept of abundance. There is enough for everyone willing to contribute to the growth of the network.
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That's because they've been programmed to accept the scarcity model their whole lives. There's this stupid skepticism getting in the way. If you know how Hive works, then you must be stupid not to accept its benefits.
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I took this photo last night to show the excesses and the current inbalance that exists in the current wealth system.
The price of one of these new cars can feed the children in the poor schools that we support for 10 years. We started the charity in 2001 with nothing and we started in crypto in 2017, also with nothing.
Although now in the charity's 20 year anniversary, we have not reached our targets in hive yet, we are growng steadily and we will get there.
So yes, I agree with you that mobile phones in the hands of the poor will become mightier than these cars in the future.
I like your analogy with your android. Mine was 4 years old when replaced it a couple of weeks ago. This time I haven't opted anymore for a flagship. A $200 Oppo that does everything as my old Galaxy did. The essential can be fullfiled smoothly with less money spent on gizmos these days.
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You mentioned it a while ago about how things are changing rapidly. Rapidly is exactly what we are seeing as innovation leads to development. How soon will we all be using crypto banking cards instead of what we use today. For many of us I imagine within a couple of years or less. I wrote about Coti tonight as it is something I uncovered whilst taking your advice on board looking for crypto cases with development and I thank you for pointing me in the right direction.
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From one legacy system to many virtual economies. Many in today’s society can’t comprehend the bigger picture. This symbol $ blinds most into a lack mindset.
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While I agree with the use of internet to provide new opportunities, education to make life better, there are also a large chance that a new user to the internet are also the easy victims for the internet scams.
while scams are not a new things in crypto, but when it attacked newly educated people to the internet could bring a bit of problem, as they sometimes believe that everything on the internet are true without wanting to research more.
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STOPTo support your work, I also upvoted your post!
Because this is such an awesome post, here is a BBH Tip for you.
. Keep up the fantastic work
We are the "haves mores" here on hive because we also have our crypto peeps we hang out with :)
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exciting times we see live in! you can't even predict what's gonna pop the next day!
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