I’m going to assume you know the world is going to hell. Come on! lets face the facts, privacy (especially digital) is long gone. Civil liberties, trampled, basic human rights being eroded by the min.
The global economy is going to collapse due to the fact it’s a Ponzi scheme. The ecosystem is so polluted it makes Charlie Sheens life choices look like winning And abortion look like the humane choice over raising a child in this world.
like it or not, deny it or not, these problems are real, regardless of cause we cannot escape the consequence. And a dismal reality awaits us, unless miraculous sweeping changes come in a hurry.
Well Im here to share the good news the miracle has been performed and the changes, inevitable. Now, How much time will be required for the medicine to take effect depends on how quickly we utilIze and integrate blockchain distributed ledger technology in all areas it will surely disrupt.
it’s already started to disrupt:
Money, currency, medium of exchange.
with smart contracts We can now program money to only work if certain conditions are met. Like on products that are verified (peer to peer) to be sustainable, fair trade, pcp free or made only from organic purebred Dalmatian puppy parts. Whatever we want.
We can program money to only stick to a budget or plan. No more will power needed to save for retirement when off track betting is so fun and easy. No trust needed When Lending money To a friend, or investing in a business deal. Your money can only be used for the intended purpose for A set period of time and if conditions aren’t met the money goes back to it’s original home.
We can program our money to pay the housekeeper when she’s done and passes Passes 3rd party inspection. While we are on vacation in Thailand
We can program our wallets only to accept payments from people who have passed a course (like a drivers license or gun safety course) or have certain credentials like a medical licence, business insurance criminal record etc.
A gun store can only sell to a responsible buyer.
A drug company can only sell to a pharmacy
a clothing store can only sell to hot vegan chicks with good personalities (making your brand more exclusive while promoting social agenda)
While We are free to discriminate, transparency will allow everyone to see our transaction history. And a distributed ledger also means no censorship and free speech is real.
Boycotting, protesting and sanctioning bad actors will be easy as setting your wallet preferences.
transparency will all but eliminate errant corruption but smart Contracts fill any gaps.
A Work order or purchase order is a contract designed to obligate a contractor to finish a job and the purchaser to pay when it’s done. With no mechanism to prevent default like escrow, there is the possibility and incentive for a buyer to not pay for work completed. Contracts go in dispute and contractors get taken advantage of, their only legal recourse is small claims court. Where the victim Has to spend considerable time and effort to get a court to rule in their favour and even then the court can’t guarantee a payment.
With a smart PO the contract enforcement is on the front end. An ounce of prevention is a pound of cure. when a project is verified complete by 3rd party audit. The funds (or portion) of them are automatically transferred between wallets. Eliminating contract risk and expediting payment would bring significant cost savings and reliable delivery of quality product.
Never working for free... $motivating
Never fight for money already earned ...amazing
Quality work at a reasonable price...Exiting
3rd party qaqc with free warranty insurance...comforting
Making slavery impossible...priceless.
This will enable risk free asset based lending.
imagine you want to renovate Your house you don’t have the cash on hand to pay a contractor and you don’t know who to trust to do a good job.
The previous smart contract is only good for when you have funding or collateral in place. But with additional Contract terms you can still issue a legitimate work order.
If the house has equity, if your income is stable etc. Many contractors would accept payment plans like a credit card or LOC if
a: payments were guaranteed
b: didn’t have to chase payments.
C: weren't risking relationships with suppliers.
d: a premium is applied for deferred payments
E: the agreement could Be sold at anytime
You only need to program your wallet to make affordable payments agreeable to you. Because this agreement can be verified and enforced via the smart contract.
funds to pay suppliers can be crowdsourced with very little risk.
I’m the event of loss of income secondary mechanism like a lein would be applied to the actual property, crowd sourced P2p lending networks could act as adhoc guarantor to ensure the other contract terms are met. A fully underwritten collateralized distributed financing system based on smart contract Technology.
Consumer goods could be designEd more Robust with easy upgradable features. Based on a subscription payed license for use model. Companies will be motivated to build the highest quality products and maintain ownership. Reducing waste in landfills from planned obsolescence and the energy savings from reducing manufacturing demand. A Haas, (hardware as a service) business model could truly change the world as we know it.
If the device gets destroyed or damaged by customer the IoT verification sensors can report the event and have the device replaced as quick as Alexa can say your device has been upgraded.
Reverse engineering will be very difficult in the IoT (internet of things).
Counterfeit products nearly impossible with the supply chain verified.
Fraud and identity theft will be nearly impossible as well with biometric sensors widely distribute. Your privacy will be protected by advanced cryptography, your location and other biometric data used to protect your identity with IoT verified sensors.
A Distributed and encrypted internet will secure your data from bad actors. It will enable you to program your money to solve a Mirriad of problems now commonplace. New business models will reduce waste and energy consumption while making better products more affordable and available than ever before. A trust less economic infrastructure will eliminate government overreach, corruption and injustice. Making credit more available and accessible will spark huge economic growth And help people in need. With lending being less risky and less costly the need to print more money will drop and inflation can be eliminated or reversed.
Crowd funding can replace current tax funded public service systems. With user complaints being voted for priority 24/7. and bid/proposals open to public and private alike. Cost efficiencies will be like a BOGO event at the thrift shop.
And fair and voluntary cost sharing will be as easy as ordering skip the dishes. Pot holes will get fixed faster than the average call waiting time to make changes to your phone plan.
Shady construction contracts and corporate welfare schemes where public officials succumb to bribery, collusion and other coercion, will have a hard time convincing a crowdsourced funding platform the merits of a new arena or a maintenance contract for fictitious Repairs.
Likewise hard for a government agency to buy $200000000 in office supplies they don’t need, because they haven’t made the burn quota set by the last (plural of owls) elected by the good (plural of idiots).
Voting itself will be a private online anonymous process with instant tally.
You could get one vote per day, and seats assigned for each party next morning.
Like a constantly changing landscape that can shift as soon as a promise is broken Or a is lie told. They wouldn’t have time manufacture a crisis and make us forget about Dre. or distract us from the real issues like the crippling stationary supply shortage faced by back to school shoppers.
but if money was programable and every transaction public and transparent why would we subject anyone to such unstable, unpredictable working conditions?
we hire politicIan’s to decide how to spend the money they steal from us, and how much they will steal from us next year. But they can’t tell us real time where the money is and what it’s doing because they don’t operate on a secure open transparent distributed ledger, nor can they program the funds to only spent on things directly related to their mission. (National defence spending, police, courts, infrastructur etc.)
if our money was programable what would we need them for?
We could directly crowdsource issues, pick through a list of novel solutions from trusted vendors and fund them immediately from anywhere, Without waste, confusion, interference or Delay.
No prolonged debates no opportunity for undue influence by special interest groups or corporate welfare bums.
The internet didn’t instantly produce our favourites like Netflix or pornhub. At first it didn’t make it any easier to get a home phone installed from AT&T. It didn’t immediately transform our economy or make all the information in history available everywhere to everyone for free.
So to blockchain isnt going to immediately replace our monetary system, our civil courts, public services or change nature of authoritarIan government. It’s not going to solve All the worlds problems but it will give us more tools to use, allow more people to mobilize, engage and cooperate than Any other time in history. It will make criminal activity like theft, fraud, usury and slavery much harder, less profitable if possible at all. It will give us a hand up in our struggles. it will encourage open source collaboration, discourage dog eat dog mentality nurture solutions built on trust. It will free up resources once dedicated to risk management and damage control for whatever we see Fit.
It might not happen over night or over a decade but the potential rewards far outweigh any benefits (whoever they belong to) of maintaiNing the status quo. So when you hear about a doge coin buy some. turn your art project at school into an NFT time capsule sell it for a billion newcoin. But it’s up as collateral, fund some research, finance a clean water initiative in flint Michigan. Pay it forward to the moon.
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