Imagine a world where businesses, merchants, and everyday people use crypto as the only medium of exchange. Everything will operate autonomously and decentralized without the need for third parties. In this world, governments and big corporations might cease to exist as everything will be guided by both Blockchain technology and AI. People will be able to gain autonomy over their own money, reducing corruption and fraud in every way possible. Negative events in the mainstream world will have little to no effect on the world's economy, as it lives in cyberspace. No one will be able to control people's actions worldwide, as it'll be a "free for all" scenario. Central banks will no longer be relevant, as people will become their own bank via the use of various interconnected Blockchain networks.
While all of this seems to be more of a dream than anything else, there's a possibility it could happen in the future if people lose trust in governments, central banks, and conglomerates alike.
What are your thoughts?
While all of this seems to be more of a dream than anything else, there's a possibility it could happen in the future if people lose trust in governments, central banks, and conglomerates alike.
What are your thoughts?
What do you mean by "free for all"?Nothing in this world comes for free?The resources are limited.
What will be different in 100% crypto-economy?I don't think that there will be major differences.
It depends if there would be only one big cryptocurrency,like Bitcoin,or 100 of altcoins/tokens will have to compete in the crypto markets.If there's only one coin,the inflation would be zero and the countries won't fund their budget deficits by printing money(which is good). Other than that,I can't think of any major differences.