20 years ago in the early 1990s many people do not see the potential of internet and its technology. Only a handsome of people take advantage and convert it into an income opportunity. These people are like Jeff Bezos (Amazon Founder), Lary Page (Google), Mark Zukenberg (Facebook) and the late Steve Jobs (Apple) to name a few. Today we can’t live without Internet. The TRUE power of internet is its ability to TRANSFER information (or data) across the globe simultaneously and instantly. This is why INTERNET is known as The 3RD INDUSTRIAL REVOLUTION.
Today we have a NEW technology called BLOCKCHAIN and the first application which uses BLOCKCHAIN are Crypto Currencies. While internet changes the MEDIA industry Crypto Currencies will change BANKING AND FINANCIAL industry. It is not a matter of ‘why’ but it is a matter of ‘when’. If internet enable the transfer of information , BLOCKCHAIN enable the transfer of VALUE/ASSETS. For example you can now transfer your ‘record of house owneship’ , ‘money asset’ , ‘gold assets’ using BLOCKCHAIN. This is also done simultaneously across the globe. In other words BLOCKCHAIN opens the door to umlimited possibilies and will impact ALL industries in the future. It is a new PARADIGM SHIFT to the current Business Model. For the first time in the history of the world people can do business with other peope across the globe without them knowing or meeting each other physically because the TRUST is now being handle by records in BLOCKCHAIN. This elimination of trusted 3rd Party (which is currently being done by lawyers , accountants/auditors , etc) is the TRUE power of BLOCKCHAIN. For this reason BLOCKCHAIN is one of most the crucial element of 4TH INDUSTRIAL REVOLUTION .
A GLIMPSE OF THE FUTURE
Today we only have SMART PHONE and SMART TV. In the year between 2020 to 2030 almost every device will be smart. We wil have SMART CAR, SMART HOME, SMART HIGHWAY, SMART Air-Cond, Freezer, Microwave, etc. For example in the future before we go back home we make instruction from our office laptop to trigger our house to unlock the door, switch on air-cond, heat up shower, heat up food at microwave, etc. Our car will self-drive while we enjoy our favorite music or read online news. Our Smart Freezer will automatically send email to Frozen Food Supplier when the meat is out of stock. The above scenario is made possible also due to BLOCKCHAIN. Obviously the auto-contra payment between the smart freeze and Food supplier is using crypto.
THE WORLD IS IN A CROSSROADS
We live in a world where “people are afraid of the government” when BY RIGHT it should be the other way around. However Blockchain Technology can change that .
The world now is in a cross-road when there exist two major camps. First camp consist of group and individual with IT savvy, futuristic thinking, visionaries and trying to get away from the current repressive financial system. The second camp consist of those with vast interest from existing financial system who are trying to grip to their current conventional position which is being challenged by new disruptive technology of BLOCKCHAIN.
In all era of human history when new invention coming into a society those with existing power would feel uncomfortable with new innovation that might challenge their interest. But history also show us that the rise of such powerful new technology that will eventual benefit human kind will PREVAIL, of course after many tribunal and turbulence.
This is what happening now and this is how I perceive things. Lets enjoy the show and prepare for any eventuality.