Post
Topic
Board Economics
Re: The New World Order with Crypto and Blockchain Technology
by
Abiky
on 10/10/2019, 01:20:51 UTC
That sir is a very idealistic vision of what blockchain and crypto can do for the world. However far feteched it may be, theres just so many risks involved that governments will have a hard time approving something like this.

What if the world blockchain gets hacked? With such a high stakes reward, there will surely be groups of people interested in hacking it to their advantage.

You do have a point there, mate. But I believe that "hacks" or "attacks" can be tackled by governments themselves as they follow several precautionary measures. Since central banks will act as "miners" of the global blockchain network, it might become too expensive to perform an attack as hashrate will be immense. If Bitcoin is the most secure crypto today with several nodes worldwide, then the government-backed blockchain network will be even more secure as they have access to more resources than the pioneer cryptocurrency. With centralization, it'll be possible to reach unlimited scalability for the "New World Order" to proceed as intended.

The recent interest into Blockchain technology among governments and central banks worldwide, shows us that it'll be largely implemented into our economic system within the not-so-distant future. As the world becomes more interconnected and "digitized", the need for tangible items will be no more. Which is why, I envision a world where you could buy, sell, or do anything in a digital manner powered by crypto and Blockchain technology. You'll gain access to an implant which will serve as the authentication method for financial and medical services. When going shopping, you would simply pass your hand over a scanner to perform the payment. Proof of ownership, and identity verification will be executed by smart contracts. On the other hand, AI will take part of many decisions made by humans today. This may sound crazy nowadays, but the faster the world adapts towards the latest technologies, the sooner this will become a reality. Just my thoughts Grin