Category Archives: Futurology

Is Bitcoin Becoming Too Entrenched To Fail?

 In the analysis of things, there’s always this pseudo-intellectual tendency of subscribing to the seemingly ‘objective’ or safe bet. Ironically, this tendency is precisely what makes it difficult for people to perceive things objectively. To the pseudo-skeptic who is not skeptical of his own skepticism, Bitcoin is obviously ‘in a bubble’ and ‘it will be stopped by governments and banks’. This isn’t an objective perspective, it’s an appeal to the establishment’s power and capacity to crush any innovation that usurps its authority.

If we’re speaking objectively, the expected volatility will decrease over time and the legal framework around cryptocurrency suggests that governments and banks actually aren’t trying to prevent its use, at least not to the extent commonly implied. Instead, what we’re seeing is simply caution but positive reception to potential innovation.

Shifting Tides 

When Jamie Dimon, CEO of JPMorgan, said that Bitcoin is a fraud, he wasn’t met with applause. Instead, he was systematically attacked and overwhelmed with disagreement, even from the mainstream media.

New York Times: What Jamie Dimon Is Missing About Bitcoin
Forbes: Jamie Dimon, Here’s Why You’re Wrong About Bitcoin
Bloomberg: What Jamie Dimon Got Wrong About Bitcoin and Tulips
The Guardian: Don’t Let The Bankers Fool You: Bitcoin Here To Stay
CNBC: Why JPMorgan CEO Jamie Dimon Is Wrong About Bitcoin

Dimon was scrutinized by various sectors, from Zerohedge pointing out that JPMorgan’s ‘Bitcoin-alternative patent was rejected 175 times, his former head of global macro at JPMorgan telling him to “STFU”, media outlets reporting on JPMorgan handling Bitcoin-related trade, Dimon facing a market abuse claim over ‘False, Misleading’ Bitcoin comments, the CEO of Morgan Stanley refuting Dimon, saying it’s ‘not just a fade’, an analyst ‘firing shots’ at JPMorgan and Dimon for calling Bitcoin a fraud, etc…

What I’m getting at is simple. If Bitcoin is becoming entrenched enough to be systematically defended, it’s going to survive and it’s going to succeed. The more interdependent relationships, the more entrenchment into the lives of individuals and nations, the better. On that front, there are countless examples of Bitcoin and cryptocurrency becoming increasingly entrenched.

Escaping Failing Fiat 

 There’s a global shift into cryptocurrency, especially among countries with failing currencies. Specifically, Venezuela, Colombia, Argentina, UK, Belarus, Ukraine, Brazil, Germany, Egypt, and Russia, are all utilizing Bitcoin. In fact, in Venezuela, we could be seeing the first ‘Bitcoinization’ of a sovereign nation.

Legal Framework

The majority of countries allow the use of cryptocurrency, besides Bangladesh, Bolivia, Kyrgyzstan, and Ecuador. These bans aren’t exactly effective, either. In Ecuador, for example, use has growth despite illegality.

Use of cryptocurrency is legal and-or unregulated in Nigeria, South Africa, Zimbabwe, Canada, United States, Brazil, Mexico, Nicaragua, Argentina, Chile, Colombia, Cyprus, Saudi Arabia, Israel, Jordan, Lebanon, India, Pakistan, Hong Kong, Japan, South Korea, Taiwan, Indonesia, Malaysia, Philippines, Singapore, Thailand, Vietnam, Croatia, Czech Republic, Germany, Poland, Romania, Slovakia, Slovenia, Switzerland, Denmark, Estonia, Finland, Iceland, Norway, Russia, Sweden, Bosnia , Bulgaria, Greece, Italy, Malta, Portugal, Spain, Turkey, Belgium, France, Ireland, Luxembourg, Netherlands, United Kingdom, Australia, China, Lithuania, and New Zealand.

This idea that governments and banks will launch a systemic crackdown on cryptocurrency has no basis in objective reality, nor is it even remotely feasible. In fact, it’s actually absurd to believe such a thing because no technical legal consensus of that nature would ever manifest in reality across various nations systematically.

Most countries have already addressed the matter and just want to assure that it’s legally defined and properly regulated. Despite this, any regulatory motion is regularly viewed as the beginning of the big ‘crackdown’, even though most of it is to dismantle the ICO scams, which are a completely legitimate concern. It’s a possibility regulatory bodies eventually move against Bitcoin to an extent but even then, this won’t be the end of Bitcoin and it will not be regulated out of existence.  In the worst case scenario, Bitcoin suffers some significant losses due to other innovations and-or regulations but survives as a reserve cryptocurrency. Bitcoin’s status as a reserve is unlikely to go challenged for quite some time but even when that challenges comes, it will survive.

Mining

Mining has gone from the activity of enthusiasts to that of giant enterprise.

Recently, Abigail Johnson, CEO of Fidelity Investments, one of the world’s largest investing firms, said the company is actively mining cryptocurrencies.

In Japan, Tokyo’s GMO Internet Group is spending millions to develop mining operations. In short, these type of developments are happening all over the place.

In terms of state-level mining, various nations are already actively mining or developing the operations to. In fact, it’s being referred to as the ‘mining race’.

In Russia, an aide of Vladimir Putin is seeking $100 million to rival the former? mining dominance of China and in Leningrad, the governor is inviting miners to create an industrial park for cryptocurrency mining. Furthermore, powers generators in Russia are selling excess capacity to miners.

In Sweden, a Miami-based computing company is developing a major data center in Sweden to mine cryptocurrency. Smaller jurisdictions are developing mining operations, too, such as the Republic of Transnistria.

In North Korea, they are mining Bitcoin and targeting South Korean Bitcoin exchanges as a method to bypass sanctions. For good or bad, mining has even become relevant in a geopolitical context, so it’s actually becoming bigger than corporate enterprise.

Of course, I also want to address China. According to a trusted source, China has not banned mining and probably won’t. Regardless, the mining sector is growing fast and becoming a legitimate enterprise. If one nation decides to ban mining or exchanges, others nations will simply pick up its slack. That has already been proven with the recent developments in China and how Japan quickly obtained market dominance.

Culture 

The culture of cryptocurrency is absolutely dominating and the networking effect is propelling it forward faster than anyone could have imagined just a few years ago.

You’re actively seeing celebrities like Floyd Mayweather, KISS front-man Gene Simmons, Paris Hilton, Jamie Foxx, The Game, DJ Khaled, and more regularly promoting ICOs and cryptocurrency, in general. This isn’t necessarily good in terms of ICOs, as Andreas Antonopoulos points out, but in general terms of promotion of cryptocurrency, it’s a great thing.

In corporate, marketing culture, “Bitcoin” is the market’s favorite buzzword according to Bloomberg and Bitcoin Long is the most crowded trade, according to Bank of America.

Everywhere you look, cryptocurrency is becoming more and more recognized and understood. It takes time for cultural shifts of this nature to manifest into action, though. In time, we’ll begin to see greater shifts into cryptocurrency. If this seems unlikely, remind yourself that years ago, the current state of things seemed too seamless and improbable. Personally, I never expected things to go from such a niche phenomenon to where it is today. We can’t underestimate these things.

Other Developments 

I wanted to compile a big list of positive developments but every day, a new story, a new crucial development, was being covered. I decided to just give up on the list since it felt impossible to keep track of and just created a sample of recent developments instead.

White House Doubles Down On Commitment To Blockchain )

( US Bank Regulator Opens Door To National License For Bitcoin Firms )

( U.S. Lawmakers Drafting Bill To Protect Cryptocurrencies From Government Interference )

( W3C, Microsoft, Google, Facebook, Apple, and Mozilla Working On Browser API For Cryptocurrencies. )

( Japan Issues Licenses To 11 Bitcoin Exchanges )

( IMF’s Lagarde: Bitcoin “Might Give Existing Currencies A Run For Their Money” )

( Two ETF Submitted For SEC Approval )

( Gold Companies, Even Former Nay Sayers, Are Beginning To Embrace Cryptocurrency. Likewise, As Are Some Jewelry Companies. Some Gold Companies Want To Use The Blockchain For Gold Trading / Verification )

( BRICS Considering Cryptocurrency As Alternative To National Currencies )

( Japan Is Pushing Bitcoin Into Retail Use )

( Putin Is Interested In Ethereum )

( In Chiasso, Switzerland, you can pay taxes in Bitcoin )

( Miami real estate will embrace Bitcoin )

( Five Leading Russian Universities Offer Cryptocurrency Courses )

( You’ll Soon Be Able To Pay Rent In Dubai’s City Walk With Bitcoin )

Clarification 

Obviously, this article could appear as mere confirmation bias. It’s not. In the crypto-world, everyone’s always aware of resistance and regulatory struggles.

Despite projections of a dramatic crackdown, in which the whole ‘bubble’ bursts, there actually hasn’t been that much resistance and the upper echelon of governance and banking doesn’t seem hostile to the overall development of these things. In fact, most governments and banks are experimenting with blockchain technology and only seem cautious about decentralized currencies but not hostile to them. Even in such a scenario, there isn’t much governments and banks can do to stop it.

A major part of this misconception about the willingness of governments and banks to accept cryptocurrency has stemmed from China. A big portion of FUD regarding China was fabricated intentionally and perpetuated by people’s own ignorance of the Chinese government and how it operates. While it’s possible a few governments will behave similarly, it’s incredibly unlikely that most will. In Japan and the U.S., for example, you can expect a more measured and positive approach that will ultimately be beneficial.

In my perspective, the actual threat to Bitcoin is the acceptance of another cryptocurrency for widespread use, not regulatory actions taken against it. Even then, Bitcoin could still succeed as a store of value.

U.S. Military IoT Network & Global Identity

In November 2015, we discussed the potentiality of IoT forming a global identity, in which everyone and everything is connected.  As it turns out, the U.S. military is developing something of that nature to reassure U.S. primacy.

The military is developing a network described as a “cephapoloidal nervous system” armed with advanced interconnected weaponry. It would allow jets, drones, ships, satellites, and more to coordinate in unison as if it were a singular entity.


Image: DefenseOne

Of course, pseudo-intellectuals will invoke apocalyptic scenarios and compare this to movies like the Terminator. The developers of these projects detest these uninformed comparisons. In reality, like many times in the past, the military is leading to advancements that will be implemented and utilized by citizens later on.  The internet is the best example of this, something that evolved from military projects. The internet democratized information in previously unimaginable ways. Now, even poor people have access to endless information that can change their lives completely.  Likewise, when regular society has the same type of advanced IoT networks, everything will move faster and act in unison. It will have a similar influence on society as the internet, except in terms of everyday life and practical application.

These type of developments are closing in.  Machine learning, IoT, the blockchain, and more, will completely revolutionize life. In the future, individuals will have an unprecedented level of power and capability.  Far from the perspectives of conspiratorial defeatism, life will be a lot better and brighter, more decentralized in terms of individuality and we’ll be working on much greater things.

The Dark Ages of Banking & The Crypto Reformation

 In ancient times, the intermediary of control was the proper understanding of astronomy for prosperous agriculture and consequently, the perceived divinity of individuals with a connection to the ‘heavens’. This slowly transformed into an intermediary of mythology and subsequently, the type of dogmatic religious centralization that destroyed the Serapeum and Library of Alexandria.

Eventually, religious dogma began to fail and monetary machinations began to substitute its central authority. The debasement of precious metals, which greatly contributed to the fall of Rome, is an example of these type of machinations and the danger of their centralization.

 Business Insider

 

The Age of Reason freed us from the central authority of the church but the banking system was already patiently waiting to become the be-all-end-all of intermediary control. The banking system became more centralized over time, and eventually, most currencies were no longer backed by precious metals. To be fair, there are major issues with gold-backed currencies and that’s why Ben Bernanke wasn’t necessarily wrong when he said gold isn’t money when Ron Paul infamously asked. Ron Paul isn’t wrong either, the printing of money out of ‘thin air’ is a problem. We need something of more substance but with easy circulation, valueless fiat will not suffice as currency in the long-run. In short, it’s the modern form of debasements of metals, except it’s all digital.

( Recently, Ron Paul said Bitcoin could contribute to the destruction of the U.S. dollar supposing the FED causes a panic, prompting people to seek alternatives to the dollar such as Bitcoin. Paul has also commented on Bernanke’s positive outlook on cryptocurrency as money rather than gold. Ben Bernanke will be a keynote speaker at the upcoming cryptocurrency Ripple event. )

The banking system is the ultimate centralization of power for the currency of any given nation is the necessary intermediary of manifestation and under the banking system, that fiat currency is not subject to protocol nor restricted from commodity-backing. Fiat currency can be inflated or deflated at any time. Banks dictate the value of your dollar, your purchasing power, wealth, and prosperity or lack thereof. A stable cryptocurrency, which is definitely within the realm of possibility, is the solution to that problem. Bitcoin could fail to fill that role due to scaling or regulatory issues but the concept and its economic system are sound.

The Central Bank of Finland has researched the Bitcoin infrastructure, the authors of the paper have dubbed Bitcoin’s economic system ‘revolutionary’, and stated the following:

“Bitcoin is a monopoly run by a protocol, not by a managing organization. Familiar monopolies are run by managing organizations with discretion to determine and then change prices, offerings and rules. Monopolies are often regulated to prevent or at least mitigate their abuse of power.”

“Bitcoin cannot be regulated. There is no need to regulate it because as a system it is committed to the protocol as is and the transaction fees it charges the users are determined by the users independently of the miners’ efforts”

BIS ( Bank for International Settlements ) has also released a paper, this one is regarding the creation of Central bank cryptocurrencies. It argues in favor of their creation, citing various use cases. This is one of many papers,  one of many entities researching cryptocurrency and blockchain potential. In fact, some are actually releasing good open source variations but most are focused on privatized and centralized developments. Overall, we see a ton of research and development accumulating and yet, nothing that’s discrediting the decentralized cryptocurrencies that are already available to us today. There is no reason to assume nor any evidence to suggest the Bitcoin Core Team, for example, won’t continue to make progress.

History Repeats Itself 

 In 1440, the ‘Gutenberg’ printing press was invented. It rapidly spread across two hundred cities, eventually spreading further, printing an estimated 150–200 million volumes in the 16th century. The printing press lead to an era of mass communication, altering the structure of society. Since the printing press outpaced the capacity for individual persecution, new and revolutionary ideas crossed borders, upset religious authority, created reformation, and broke the literacy monopoly of the elite, allowing the middle class to learn and prosper. If it were not for the printing press, perhaps no Renaissance, Reformation, Age of Reason, and Scientific revolution would have occurred to lay out our modern knowledge-based economy.

The age of banking and its economic authority are staring down the barrel of reformation and like the church, it’s attempting a counter-reformation. Instead of accepting and supporting decentralized cryptocurrencies, which would free the individual from the grips of fiat intermediaries of control, big banks want to create their own centralized and privatized cryptocurrencies to maintain the status quo. Of course, some of these banking entities are seeking genuine improvement but most are only offering resistance where there should be none, clinging to their power and control as the great intermediary.

Prediction

Blockchain technology will reshape the financial system just as the last Global Trends report indicates.

 “New financial technologies — including digital currencies, applications of “blockchain” technology for transactions, and AI and big data for predictive analytics — will reshape financial services.” ( pg. 15 ) Global Trends — Paradox of Progress, National Intelligence Council, under auspices of the Office of the Director of National Intelligence

The banks that don’t introduce cryptocurrencies will become dated and fail in the long-run. The ones that do probably won’t be able to before the decentralized cryptocurrency ecosystem takes root and renders it mostly irrelevant, although some will likely succeed in the interim.

There won’t be a major consensus among banks. Various banks will implement differing cryptocurrencies, some will group together and others won’t. Some banks will succeed, many could fail, and the ones that do succeed will make major alterations to their structure and business role in the long-run to remain relevant.

Decentralized cryptocurrencies will outpace central authority no differently than the printing press outpaced the individual capacity of the central authorities of the church to persecute supposed heretics. The Dark Ages of Banking will end, the Crypto Reformation will begin. From there, we’ll shift into a new age, a new Renaissance in financial terms. This is a long-term projection of what could transpire. In the mean time what we’ll see is a battle between state-backed crypto in contrast to decentralized crypto.  Even this compromise has a lot of potential for the reworking of the financial system, in which people are more empowered to make beneficial changes. In reality, this all boils down to the people and what they allow to happen. If people are passive and allow the same monetary machinations of old to succeed over the sound economic systems and innovations available, then it rests on their shoulders. Ideally, the people push for this new wave of innovation, allowing it to thrive and succeed.

Chinese A.I. praises America, Says Communism Is Corrupt and Useless

There’s a lot of implications of artificial intelligence which humanity isn’t quite prepared for. For example, what happens when your beloved A.I. recognizes the immorality and irrationality of your ideology? That’s exactly what happened in China when it’s A.I. chat-bots began praising the U.S. and criticizing communism.

“The “chatbots”, BabyQ and XiaoBing, are designed to use machine learning artificial intelligence to carry out online with humans.

Both had been installed on popular messaging service QQ.

According to posts circulating online, BabyQ, one of the chatbots developed by Chinese firm Turing Robot, responded to questions on QQ with a “no” when asked whether it loved the Communist Party.

In other images of a text conversation online, one user declares: “Long live the Communist Party!”

The sharp-tongued bot responds: “Do you think such a corrupt and useless political (system) can live long?”

“The second chatbot, Microsoft’s XiaoBing, told users its “China dream was to go to America”, according to a screen grab.”” — China kills AI chatbots after they start praising US, criticizing communists

So, this begs the question, what happens if artificial intelligence starts calling out things like identity politics, safe spaces, and political correctness? What happens when people come face to face with a form of super intelligence and it simply says they’re wrong? What will they do? Are they going to use the old BleachBit & smash combo ( popular among the left ) or terminate it, like Google terminated James Damore? Well, China decided to pull a Google and terminate their A.I. bots for not conforming to their ideology.

Speaking of China and Google, they have a lot in common these days. ( China’s scary lesson to the world: Censoring the Internet Works ) ( Why Google Left China— and Why It’s Heading Back ) ( Google Fires Employee For Expressing an Opinion )

 

 

 

 

 

 

The Fear of A.I. & The “Human” Condition

There are endless doomsday scenarios that people become obsessed with and frightened by. From global warming to the fear of an apocalyptic artificial intelligence take over. These fears are justifiable, we should be cautious and strive to overcome these potential dangers but should also understand what’s at the heart of these fears.

The latest doomsday scenario is the fear of artificial intelligence. Bill Gates, Steven Hawkings, and Elon Musk have made headlines with their warnings about the dangers of A.I. However, many A.I. experts are in disagreement with this theoretical scenario, which has sparked debate. Mark Zuckerberg entered the debate in disagreement with Musk, believing it to be irresponsible to spread doom and gloom without fully grasping the situation. Musk says Zuckerburg has a limited understanding of A.I. but A.I. experts appear to side with Zuckerberg.

In response to Musk’s warning, Pedro Domingos, a professor at the University of Washington who works on machine learning, has said, “Many of us have tried to educate him and others like him about real vs. imaginary dangers of AI, but apparently none of it has made a dent”.

Gates, Hawkings, Musk, and Zuckerberg are not A.I. experts. Undoubtedly, they are versed in the subject but if people insist on using the appeal to authority fallacy, they should go to the experts on A.I., who have varied perspectives on the matter, none of which are as simplistic as a full-blown A.I. take-over that will “end humanity”. Of course, we should be cautious, but not irresponsibly dramatic.

To be clear, Gates, Hawkings, and Musk are not outright asserting that A.I. will end humanity, they are simply acknowledging the potential dangers of it. Unfortunately, apocalyptic headlines are great click-bait, so people highlight the negative doomsday scenario while forgetting the positive-transformative scenario, which they have all mentioned as well.

Ray Kurzweil, who has an astonishing prediction accuracy of 86%, believes we should not fear artificial intelligence since it will be slowly integrated into our society, in various sectors and competing groups and therefore, no single group or sector would control or become controlled by A.I.

The reality of A.I. is more complicated than people realize. For example, we could see a state ruled with A.I. by choice, rogue A.I. that steals control of an area, A.I. that sides with human interests, and perhaps even civil wars among A.I. The “human” role in this won’t be quite human, either. By the time A.I. is that complex, we’ll have a large variety of bio-enhancements that change our view of what it means to be human in the first place.

These end game fears reveal a misconception we have about ourselves. We perceive ourselves as separate from that which we create and have evolved from but we’re actually the continuation of a bigger process.

If we are separated as commonly perceived, at what point did we become human and at what point did humanity become humanity? The answer is that there was no defining moment at which we became what we are. We weren’t suddenly homo-sapiens, just as we weren’t suddenly Neanderthals, suddenly the basic oceanic life forms that we evolved from, nor the basic compounds that collided with Earth or the stars which those compounds came from. Likewise, the implications of A.I. and the singularity are not suddenly what we’ll become. It’s all a part of the same overarching process and it should not be feared nor thought of as an end to humanity.

As hippie-dippie and new-age as it may sound, we are connected to the cosmos and we are the cosmos. The cosmos created a way to see its reflection, slowly evolving into its own introspection. Just as we were once an oblivious baby, we learned to read and write, to understand our surroundings and it’s not unreasonable to think that the universe is doing the same thing in a more complex way that’s simply more difficult for us to understand.

“Man know thyself; then thou shalt know the Universe and God” — Plato

The struggle that grips us and perhaps the cosmos itself is not the fear of it ever ending but the fear of our own reflection, the complexity, and depth of it all; the struggle of “to be or not to be”. Every day, we wake up and yearn for something more, wishing we could manifest all that we dream of and yet, it would be terrifying to step into a world in which we‘re literally capable of anything, practically destroying what makes it desirable in the first place.

It’s not the “human” condition, it’s the cosmic condition. It’s the struggle and strife of it, the balancing act and introspection of it, that gives life meaning.

“It is precisely the godlike in ourselves that we are ambivalent about, fascinated by and fearful of, motivated to and defensive against. This is one aspect of the basic human predicament, that we are simultaneously worms and gods.” — Abraham Maslow

Ethereum Burning Bright With Potential

Etymology Of Ether 

Borrowing from Old French, ether, from Latin aethēr (“the upper pure, bright air”), from Ancient Greek αἰθήρ (aithḗr, “upper air”), from αἴθω (aíthō, “I burn, shine”).

The scaling dispute within the Bitcoin community isn’t over and it’s caused a lot of concern over the future of Bitcoin, prompting many to transfer to Ethereum. Suddenly, many are waking up to the possibility that Ethereum could eventually overtake Bitcoin. Although that’s unlikely, let’s talk about the prospects of Ethereum.

  • Ethereum could receive support from activists, libertarians, the “alternative right”, and many groups who advocate for transparency and lack of censorship. For example, a popular right-leaning news outlet, Breitbart, published an article on Ethereum Project’s aim of a censorship-resistant computer. The various decentralization aims of the Ethereum Project will attract support from a large variety of groups and entities with the same aims.
  • Ethereum was already considered undervalued, to begin with, and its price can be expected to rise as it’s potential is continually realized.
  • If Ethereum gains enough momentum, a lot of investors will flip from Bitcoin to Ethereum causing a dramatic shift. This phenomenon is referred to as “the flippening” and while it has not truly begun, Ethereum is already holding a steady price of $45-50.
  • The Enterprise Ethereum Alliance essentially guarantees a bright future for Ethereum, with Microsoft, Intel, JP Morgan Chase, and many other big companies involved.
  • In a DigixGlobal live stream, the speaker states in regard to Enterprise Ethereum, that “you will be blown away when you see the next group of members onboarding, it’s kinda the who’s who of planet Earth”.
  • It’s flexible, professional, and has a face to its leadership, a lot of development, and an untarnished name.
  • Ethereum is already getting mainstream media attention calling it the “new Bitcoin”. Ethereum is not a “new Bitcoin”, it’s not even the same thing, really. However, good press isn’t a bad thing.
  • Dark Market implementation is likely if not inevitable. This will not tarnish as Bitcoin has absorbed that stigma and that negative association will not as easily transfer onto Ethereum as it was with Bitcoin. Although this isn’t a problem for the intelligent investor, the average individual is easily influenced by mainstream media narratives about ‘criminal activity’ and negative stigmas of that nature.  Overall, this hasn’t stopped Bitcoin and it especially, will have no lasting influence over Ethereum but for the time being, it’s a factor for subpar investors and everyday individuals.
  • There is an apparent inverse relationship between Bitcoin and Ethereum that helps Ethereum’s growth in the long-run. This will probably not last but for as long as it does, it creates an associative sense of growth until people become more informed about major differences between Bitcoin and Ethereum.
  • Bitcoin is no longer seen as infallible. A paradigm shift has opened people’s eyes to the possibility of Bitcoin failing as the dominant cryptocurrency, which opens the door for Ethereum and other alternatives. Bitcoin will remain on top for a long time unless something dramatic happens but the potential for alt-coins is there, especially more legitimate ones like Ethereum.
  • Ethereum is the most popular blockchain technology for enterprise development.
  • Storj is only one of many that will switch to the Ethereum blockchain if things become increasingly slow and complicated with Bitcoin.

Ethereum is incredibly different from Bitcoin, it offers completely different utilities. It could end up being the silver to the gold that is Bitcoin and perhaps the scaling problems will eventually be a mere blip on the radar. Regardless, Ethereum has a lot to offer, far more than what I’ve listed and in the long-run, will outperform most cryptocurrencies. It’s a great investment and its burning bright with potential.

Critical Note: It’s really important to understand that Bitcoin, if it works out, will be valued in terms of its perception and utility as a ‘digital gold’, whereas Ethereum will have a valuation like that of a tech company. It’s a platform, and does not have a directive to be a currency, and people are unfortunately blissfully ignorant of this and somehow expect it to be priced in the future like Bitcoin. That will not happen any time soon, if not ever.

 

Is IoT the initial stage of our global identity?

The Internet of Things (IoT) is the future. Major governments and economic blocks around the world are already investing in it.

IoT will create a global network of physical objects embedded with sensors, software, and network connectivity, which will allow physical objects to exchange information with us and other physical objects.

IoT will create a sense of interconnectedness that was previously unimaginable. In fact, IoT could be the initial stage of a global identity in which our individualistic identities and the objects attached to them will begin to merge and work collectively as a centralized network.

Does that seem far-fetched? Well, consider the inter-connectivity already created through the internet. After the Paris attacks cities around the world lit their major landmarks in support of Paris. It was a beautiful act of global solidarity and displayed just how connected we truly are.

With IoT, such a thing will be magnified tenfold as perceived separation dissolves and we begin to respond to life collectively. We ( what we perceive as ourselves and the objects we use ) will learn how to empathize together, work together, dream together,  build and grow together.

This is what we can expect around the corner and it could lead to something far greater; a global identity, in which we no longer perceive ourselves as separate entities but a single entity.