Saturday, 20 October 2018

Blockchain is the Olympics of Innovation in the Crypto Singularity

The emerging technologies of today create the jobs of tomorrow, and 2018 is shaping up to be a pivotal year for the Blockchain renaissance, or as I like to call it, the Crypto Singularity.

If 2017 was the hype year for Bitcoin going mainstream, it also stimulated incredible amounts of Blockchain community initiatives and innovate uses cases of Blockchain. Everyting from ICOs to crypto investing by the Millennial mainstream is taking shape now. Crypto startups founded in 2018 will have the potential to revolutionize industries with new solutions.

Peer to peer computing and decentralized solutions will transform several industries and it’s increasingly becoming clear Blockchain is an open-innovation paradigm that will be transformative in business.

When we think of digital transformation, the blockchain layer is truly the ultimate intersection of human-centric and artificial intelligence. While widespread adoption won’t scale until the technology is ready, we are quickly getting to the point where it will be.

Blockchain is Computing for a New Value System of Capitalism

Blockchain isn’t just about how transactions are handled online, it’s about a new value system gripping the global community that involves a push towards more sustainable inclusive solutions that tackle dozens of real-world problems.

Everything from healthcare medical records, to security, to establishing smart contracts that mandate new levels of equality, transparency and trust in failing institutions and industries that are no longer in sync with consumers.

This relates not just to the next web, but to the fundamental trust we have in institutions in an increasingly global society.

If many younger Millennials and GenZ view themselves as global citizens, we will live in a post-nation-state world of peer-to-peer transactions. Blockchain redefines the transactions, and how we can rely on institutions to be secure, reliable, efficient and trustworthy.

While thousands and more likely millions of jobs under threat by automation, robotics and artificial intelligence in the next two decades, we have to be watchful of industries that have the potential to create massive amounts of new jobs.

It turns out blockchain is one of those cross-disciplinary new fields where this appears to be occuring. As much as ICOs and crypto exchanges are fraught with regulations, the smart contract platforms of the future that are the gateways to the next web are in development now.

Is Blockchain Innovation the Future of Jobs?

Blockchain therefore is not just implicated in the next web, future of transactions or evolution of collective trust, but the future of tech jobs as well.
As retail, transportation, finance, banking and sales jobs get set for a fundamental shift towards automated speed that represents the biggest wave of job losses seen in decades, the Crypto Singularity promises the creation of thousands of new jobs that shifts society into a post-capitalism era of sustainable and ethical relationship with technology and tech firms.

The blockchain heralds innovation that’s decentralized and not simply geared towards corporate profits, but ethical solutions for the new global consumer.

Blockchain can be the bridge for the new consumer to a world more aligned with changing values and institutions such as Government, Education and Healthcare so badly in need of an upgrade.
Blockchain is therefore also a social movement, a value shift and a move towards a more transparent and egalitarian society.

It’s also the beginning of a new era of open-innovation systems where smart contract platforms can create new peer to peer consumer centric solutions.

The Potential of Blockchain Finally Realized?

We know blockchain has incredible potential but in 2018 there will be momentum for greater recognition of its future impact in job creation, healthcare, energy production, voting and government, music to new tech platforms that are more secure, transparent, consensus-based, and trustworthy. Where innovation leads, all of business must follow.

Strictly from a corporate point of view, the cost savings and operational efficiency boost that blockchain provides alone is worthwhile. In an era of the cloud and software eating the world, the blockchain is the missing link to a smarter world of automation and transparency.

Decentralized ledgers can change entire industries and help societies and firmly bridges the gap between the values of the new consumer and the future of technology and innovation itself.

Eventually, this will correct many problems in governance, healthcare data, the global economy and widespread corruption. We need to build blockchain systems that can lead to the disruption outdated business models and institutions that are roadblocks to equality, cybersecurity and anti-corruption.


Why 2018 is the Emergence of the Crypto Singularity

The Crypto Singularity post-Bitcoin will do just fine, in 2018 we’ll witness the emergence of the best altcoins, the best decentralized computing platforms and new uses cases of blockchain.

We’ll see Ethereum, Cardano, Stellar, NEO, NEM, TRON, Ripple and others move out of the shadow of Bitcoin and the crypto asset craze.

In 2018 we’ll see an emergence of a new wave of ICOs that continues to redefine the way we see the future of crowdfunding and early startup funding.

We’ll see greater adoption of enterprise and government with uses of the blockchain to increase efficiency, security, transparency, trust and legitimize their services and operations for the new consumer.

Blockchain Consolidation is Taking Place

In 2018, crypto volatility will stabilize at new highs.

Adoption of new consumer of customer-centric apps along with stricter regulations will challenge how cryptocurrency exchanges intersect with an ever eager market interested in investing in crypto assets. Many questions remain:

Will Ethereum emerge to be the Facebook of blockchain platforms?


The speed at which the top altcoins are rising, the prefered crypto assets are trading, and blockchain innovation itself is nearing nearly exponential progress where technically the frequency of transactions will be able to scale to the next level.

The smart contract era means a new kind of web and a new trustability, reliability and speed of platforms.

How will NEO, Cardano and potentially EOS challenge Ethereum to live up to its billing of being one of the founders of the Internet 3.0?

How fast will enterprise start adopting blockchain?

Ethereum as a public blockchain means anything that happens on it is publicly visible. Will this usher in an age of transparency in tech?

While Ethereum has become an array of startup innovation, its limitations also mean there’s room for other more viable platforms to out-scale it in terms of efficiency, security and speed.

Blockchain is Still in its Infancy

NEO vs. Ethereum? It’s still early days.
The Olympics of Blockchain are about to start in 2018, and we’re all privy to the games of the Crypto Singularity, we all have a front seat.


By Michael K. Spencer
source: medium.com 
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