Bitcoin is nothing more than a wildly speculative trading vehicle with a currency façade. Even most vendors who “accept bitcoin”, never actually see bitcoin in transactions. And given most people need to purchase cryptocurrencies in order to use them, what have we actually accomplished?
What will we do for money in the age of automation? Each autonomous ride-sharing vehicle will eliminate the need for 9 traditional vehicles! Autonomous semi trucks, buses, garbage trucks, cars and even Uber’s VTOL “air taxi” are coming. Autonomous fruit pickers are coming. Artificial Intelligence is invading the medical field. Trapped in our current money system, we will be victims of extreme wealth inequality. How will bitcoin or any of the current cryptocurrencies save us from the decimation of the labor force?
There’s a much better paradigm for cryptocurrencies, one which is powerful and socio-economically transformative. But we need to design this cryptocurrency from the ground up. Participating in this new “crypto” doesn’t require being an early adopter or being wealthy. No Initial Coin Offering (ICO) is needed. It’s based on renewal and adapts to new people joining the network. And it will allow us to thrive with automation. If you’d like to see the future of a cryptocurrency which drives an entirely new economic reality, please enjoy the first of a series which will span many subjects.
The Rapid Insights Series is a series of brief, rapid-fire ebooks, each the synthesis of important and developing trends and ideas from the creative mind of a person who consumes mass quantities of inputs across many categories. These ebooks aim to paint “the big picture” in each area of focus, such that readers can quickly “dial in”. Each ebook should be readable in one sitting.