What is the future of digitalization?
Digitalization and its development
Today, digitalization is no longer just a process of transforming information into a binary level. From the point of view of long-term predictions, this is a global developmental reclassification of the ecosystem of humanity and our being.
Almost seventy years ago, one of the greatest scientific discoveries of the 20th century, concerning DNA, was revealed. Today we already know that the DNA structure is the carrier of genetically encoded information, responsible for the formation of all signs and characteristics of most living organisms, including the human race.
The question is: doesn't DNA happen to have certain indirect features that coincide with the blockchain? After all, at the elementary level, they have a common denominator, namely the information flow (input of information).
Identifying information gives us the possibility not only of analysis, but also the possibility of guiding its further use.
Therefore, the use of concentrated information contained in the blockchain is a synthesis tool for the applicability of, for example, AI, i.e. artificial intelligence.
Digitalization through digital currencies
At the very beginning there was Bitcoin (BTC). A digital currency that was condemned and predicted to have a short lifespan. Digital currency, which fortunately was behind the birth of a new industry, generating innovation. Bitcoin is a digital currency that also has its own Bitcoinmat. How many digital currencies can boast of their "ATM"? Through it all, there are people who question the years of progress of this digital currency and digital currencies in general in the market. They dispute this by saying that it is very volatile. However, when we consider other investment instruments, there are also possible risks and cases of loss.
Therefore, after more than ten years, two different sectors, namely the traditional economy and the digital-economy, gradually began to merge in order to jointly "pave" the way for new digital-assets.
It's about a cycle, when something old disappears and leaves room for something new.
The inevitability of these changes is an irreversible phenomenon that affects every single sector as well as the country.
We see the transformation of digitalization mainly in the following points:
- The financial sector, led by central banks, will soon be behind the creation and legislative anchoring of national digital currencies. Central banks will use national centralized blockchain platforms to which lower blockchain structures will be connected.
- Government bonds, bonds, securities and other derivatives are converted into central digital currencies.
- Birth numbers, company identification numbers, health and social records will gradually disappear. A large amount of identification data will be replaced by centralized Smart Contracts.
- National centers for research and application of AI (Artificial Intelligence) will be established. They will fulfill not only an information role, but also propose solutions to the problems of ordinary people.
- The FinTech sector will be divided into two levels: state and private. The task of that state level will be to support the development of centralized applications. Individual national centers will be interconnected at the international level. This will result in more effective communication and harmonization of rules.
The private level will have the opportunity to develop applications and at the same time partially (partially) participate in development for the state sector. In this case, it is assumed that there will be a new form of remuneration by the state sector against the private sector, in the form of, for example, national digital currencies (CBDC).
- IT security will be centrally coordinated, at individual blockchain levels. Only state administration bodies, insurance companies and banks will have access to personal records.
In some shops, cafes or e-shops, it was already possible to pay with Bitcoin five years ago, we are talking about those in Slovakia.
You can see this article as a utopia, you might be horrified by what could happen when you read it. But the truth is that digitalization is here for us - the people. Not to limit us, but to serve us and help us.
Do you still think that digital currencies have no future?