We witnessed three industrial revolutions in which farms turned into factories, steel in skyscrapers, and computer networks in a connected world. The first industrial revolution was steam, coal, and water. This has led to the creation of a steam engine that helped create machines that produced many products such as textiles. The second one came with the electricity that allowed mass production.
The third and last industrial revolution began in the 1950s. It’s about computers. These machines and digital systems have produced new ways of processing and sharing information.
For the first time in the history of mankind, we have built up technology that can reverse this centralization.
The emergence of such technology is needed because economics and geopolitics are brought into line with what is known as the “Fourth Industrial Revolution.”
Here are 19 predictions by Andrew Keys from Consensys about what he thinks should happen:
1) At the beginning of 2019, the Fourth Industrial Revolution will move exponentially faster than the previous Revolutions
The fourth industrial revolution will flare up, as the emerging words as artificial intelligence, robotics, quantum computing, and biotechnology will be seen more. All of the technologies will be deployed soon.
This revolution will be marked by the further incorporation of technology into everyday life. Conscious of this, businesses from WalMart to Fidelity will launch block systems, releasing a flood of network effects. Amazon, Facebook, industrial manufacturers, and so on. Have begun to work on the future. This particular revolution will pass swiftly, as a percentage of the previous revolutions. But this time, every participant, not just the billionaires, must have a share of all the benefits. Decentralization will be a necessary development for the fourth industrial revolution.
2) The end of the tokens & ICO
The launch of tokens and ICO in 2018 were worth experiments for fundraising and tokens, but these were early use cases. In 2019, we will see a more improved token economy, with a more comprehensive business logic built into the coin itself, which will lead to greater functionality. Think about labor contracts that are paid per minute, food vouchers that programmatically ban the purchase of sugar or caffeine, a tokenized electron that can be shared between neighbors from a solar panel …
right now we’re scratching the surface.
3) Volatility will move investors to the digital assets
Bridgewater’s founder, Ray Dalio, has structured his famous “All Weather” fund to hold 7.5% of gold and 7.5% of a mix of other commodities if he experiences periods of increased volatility and hedge against cyclical risks in shares or bonds. By November 18, 90% percent of the 70 classes of assets traced by Deutsche Bank reported a negative overall return for the year, according to The Wall Street Journal. The stock market closed the year with the worst annual results since the financial crisis. During this tightening cycle, where many are afraid of an impending recession in the US, interest is expected to grow in digital assets.
It can be assumed that in a global, risk-free situation, investors could also make their digital assets because of their instability. Nothing is sure in the end
4) Your father’s opinion is not relevant anymore
“In the information age,” work “will be a task and not a position to” have, “wrote James Dale Davidson at The Sovereign Individual in 1997. Since this reality is approaching faster. Companies like Uber, Airbnb, and many others give an idea of what the future might be. The next generation of applications will provide similar user experience but will decentralize equity. The first wave is already on Etherium. Over 1000 artists have published their music in Ujo, reducing their dependence on record companies and streaming platforms. Gitcoin, an open source software monetization platform, includes 17,416 developers and has provided 2690 full transactions to 763 unique programmers since its release in November 2017. Blockchain will have a direct impact on the “future of work” – not just what jobs are available, but how the value will be exchanged through a decentralized peer-to-peer workforce.
5) It continues to grow
By the end of 2019, all aspects of institutional capital markets will be available for digital assets. This includes trading, insurance, registered exchanges, real-time USD-cryptos settlement, and appropriate investment instruments. This is a slow process. In these institutions, the changes are methodical, not the expectation of immediate satisfaction of the crypto community.
Simple example: Insurance company based on blockchain technology. Your information is on the chain, the way you added it.
The number of scams at the moment is huge. I don’t even want to talk for the poor countries. Its nasty, fraud and lies are everywhere. This has to change.
6) The Lego Effect
Thanks to the hard work of builders – developers, product managers, security professionals, and entrepreneurs – along with the maturation of key components and standards, the landscape of development are already full of elements that can be built into a powerful decentralized application, which was not possible before.
7) ConsenSys 2.0
In the beginning, ConsenSys 1.0 creates software without platform development tools that have not yet been released into the ecosystem and does not exist. Over the last four years, we have trained hundreds of thousands of engineers who enlighten millions for decentralization, and our distributed infrastructure processes billions of orders a day.
This year, banks and institutions will increase block acceptance by reducing downtime, improving data management, loosening paper-dependent workflows, optimizing the KYC process, and eliminating human errors. Blockchain will focus on reducing the risk of counterparties and fraud, allowing companies to actively manage the risk.
Image transaction being transferred within a seconds from country to another country? Usually, it takes a few days
9) Blockchain UX / UI
Although so many developments in the ETH ecosystem in 2018 focused on hidden elements, audiences are primarily associated with dApps through the consumer experience. With a few notable exceptions, the block design is lagging behind the sublime aspirations of its protocol. But it will change
The Global Positioning System (GPS) is a service that is taken for granted by most, although it is in everything from Google Maps to military operations. As a centralized monitoring tool owned by the US government, the GPS device is full of problems, many of which can be solved with a block. Peer-to-peer, private, decentralized, censor-resistant and consensual. Already active on Etherium, FOAM’s “Proof of Location” protocol uses the peer-to-peer network and the token stack model to create a live world map that can be used to track everything from elements along the chain for deliveries to autonomous vehicles.
11) Regulations all over the world
Blockchain cannot reach its full potential until we can prevent fraud and protect consumers and investors in the cryptocurrency – the same issues that regulators are focusing on. The Brooklyn Project is a community of 1,500 lawyers, regulators and industry players who actively collaborate with community-generated documents such as the “Consumer Token Framework” and take the lead in interacting with government bodies in the US and Europe. Brooklyn Project’s engagement with regulators such as the Securities and Exchange Commission (SEC) has led to a number of encouraging developments and recognition in the United States.
In 2019, significant movements will be noticed in terms of blockchain and cryptocurrency
12) Decentralized funding already works on Etherium and in 2019 we will see a 10x increase in users
Investing in a company like Apple using cryptocurrency – This is just the beginning
Instead of taking a huge two-figure interest rate loan from hedge funds that do not understand the crypto asset is just as good as any other asset class. Exchange’s uses the Nasdaq Financial Data Transfer Protocol (FIX), which allows users to replace their shares in top global companies, including Amazon, Baidu, Apple, Facebook, Google, Intel, Microsoft, Netflix, Nvidia, and Tesla.
Blockchain will continue to remove barriers to entry both in employment and in investment.
13) Real food, Eco Cloths, From Beginning to End
Now is the same, people are curious about where their food or clothes are coming but there is really no evidence if the information is true or not.
This will change for sure. You will be able to see from where the bread is coming and how that “eco” T-shirt was made. Isn’t this making you excited? Basically, you will be able to trace EVERYTHING from where it came including cars and homes.
14) Cloud decentralization
Do people remember the FB information leak in 2018? Future is cloud, the information at the moment is preferred to be on the cloud and not in physical storage because it’s easy to move and easy to access.
With Etherium and intelligent contracts, it is now possible to release unique, verifiable, digital tokens that can easily sell and track the ownership of limited editions and rare works of art. SuperRare creates a remuneration system for which an artist can only dream:
no commission for primary sales and 3% commission for secondary sales. The artist also receives 10% commission from secondary sales, providing passive income from works of art if he continues to trade on the secondary market.
16) Web 3.0 and having an identity
Thanks to technologies such as uPort, Metamask and Opera, users will gain more control over their own digital identities – a central aspect of what we call Web 3.0. Here’s how the new network works: Instead of signing in to an app like Google Chrome, Safari, or Facebook, users will enter a personal, cryptographically authenticated browser they own. Your own secured browsing program 🙂
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