Age Of Abundance: End To Global Poverty In 10 Years
While the criteria changed over the years, which is why there are three different lines on the chart, they all tell the same story. Global poverty rates plummeted in the last century. We also saw an significant drop in the last 20 years especially when using the $1.90 per day rate that is now implemented.
Nevertheless, we must be honest. These numbers are still bad. When you consider that about 10% of the world still exists on less than a couple bucks a day, that is a problem. We also know that a vast percentage of people, like Eastern Europeans, survive on under $10 a day.
Fortunately, crytocurrency and blockchain are going to change all that.
For months I wrote about the Age of Abundance and what it is going to mean for the world. The first ones to benefit are those hardest hit. Someone who is homeless and suffering in San Francisco has a high bar to reach to alter his or her conditions. The same is not true in the Sudan.
There are many discussions taking place how to solve the poverty crisis that still exists. Another emerging problem is going to be the job loss due to automation. This caused ideas such as Universal Basic Income to hit the conversation circuit.
Personally, I feel that tokens are going to be the basic income that people receive. In these poorer nations, we are going to see the impact in the next 5 years as more of them come online. The threshold required is not great. As technological unemployment starts to penetrate the richer nations, those affected are going to have a cushion through the tokens they earn.
The solution is already starting to emerge before our eyes.
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what they are doing. At present, their payout is 100 tokens for 10K steps. While the pricing is all speculation at this point since the token is not traded, even a price of 2 cents is $2.00 a day. Cut that amount in half to be conservative and we see the income in some of these poorer nations jump by 50%. Now, instead of a $1.90 per day income, one is bringing in $2.90.
Let us keep adding. I mentioned few times in posts. It is a token that is given out to do search. The intent is to decentralize the hold that Google has on this market which is estimated to be worth $100B a year to that entity.
At present, according to coinmarketcap.com, PRE is prices at $.135. They allow one to earn 8 PRE a day, or $1.08 at the present price.
Once again, we see the person in the poorer nations adding another 50% to their daily income. Putting just these two applications together, we see that a person who is near $1.90 level doubled his or her income.
We already saw the impact on many in nations such as Nigeria and Indonesia on STEEM. The tokens earned by posting content has helped many of these people increase their incomes. When you are focusing upon such a low level, having 25 or 50 cents can make a significant difference.
These are situations that are possible today, in 2018. I want you to ponder what things will be like in 2025. STEEM could be at the forefront of this because, with the introduction of SMTs, it will be a token factory. More importantly, it generate utility tokens which can be earned. That is crucial when looking at this from a poverty perspective. All tokens created using the SMT protocol will also have instant liquidity since they are paired with STEEM. This is another crucial point since many tokens are very difficult to turn into spending currencies. As STEEM grows, the hope is that it will have some options to convert to fiat.
Ultimately, I foresee people earning the equivalent of $100-$150 a day via tokens. This will go a long way to changing the lives of billions of people. Again, it might not have a tremendous impact in a city like San Francisco but it will feed many others in the world.
This is the era we are entering. Some of the examples in place already are showing us what is going to happen on a much larger scale.
Blockchain is only going to move forward. Because of this, cryptocurrency will expand. As more projects come online that people embrace, we are going to see the ability for people to earn money compound. This is the key point. It is not only going to be one or two things. We will see the tokenization of almost every aspect of our lives.
I will give you an example. I skimmed a white paper of a medical institution that is developing a token on the ETH blockchain. I was shocked because it was decentralized. The main idea behind this is for patient records and medical data to be decentralized. What really interested me is the fact that they stated the tokens were to incentivize people in different ways i.e. to do the things that led to their healthy like taking meds and exercising. On top of it, they appear to be trying to develop an entire ecosystem around the blockchain with other entities accepting the token as payment.
This is not a recommendation to buy or any type of investment advice.
Each of us has a Genome. About 15 years ago, they mapped out the human genome for the first time. Since that event, the price has dropped one million-fold. I read an interview earlier with one of the leading minds in bio-genetics and he said it is his goal to not only make the mapping of one's genome free, but for it to have a negative cost. In other words, they pay you to map out your genome.
Sounds like tokenization to me.
Blockchain and cryptocurrency are in the early stages. We came a long way from the white paper 10 years ago. However, with all the development taking place along with the progress of the different AI categories, we are going to see a massive explosion in the next decade.
This is why I feel so confident in saying that global poverty will be eradicated in the next decade. Tech titans like Elon Musk, Richard Branson, Mark Zuckerberg, and the Google Boys are all intent on getting the other 3.5B people in the world online over that time. This means we will have close to 7B individuals online by the end of the next decade. All these people will have access to blockchain and tokens.
And it just so happens the half of the global population that does not have Internet also is at the top of the poverty chart.
Here is a fun exercise if you do not think things change quickly. Try to remember life without smartphones. It was only a short decade ago that they started to really be introduced. In that time, it revolutionized our access to information and how we communicate.
In the tech world these days, a decade is a mighty long time.
I predict in one more, the tokenization of the global economy will have poverty under control.
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