Have you ever seen Star Trek or a similar science fiction story where everyone lives in a "utopia" and money doesn't exist? Always in these fictions they never seem to explain how the world operates without money, only that it does. The blockchain is so powerful that it could eventually make this fantasy a reality.
As we enter the age of abundance and cryptocurrency slowly decentralizes the wealth and resources of the world we may fail to need any sort of currency at all. We see a faint glimmer of this possibility with Steem. Here at Steem we attempt to gauge the reputation of our peers with a numerical value. I believe more and more complicated and robust reputation systems will appear as time goes on. In the end, a person's reputation might be far more valuable than the coins they've collected. We may see a shift of mining coins to mining reputation.
If these systems are good enough to stop exploits we no longer have need for money. For example, let's say in the future the only way to interact with a certain blockchain is to give them your DNA. If you're found out exploiting the system your DNA could be banned from the blockchain. The threat of being banned might be all that is needed to keep the vast majority of users in line.
Take Steem for example. If the reputation system was good enough, the power of your votes wouldn't be stake-based, it would be reputation-based. This is what I have previously been calling Proof-of-Trust and it doesn't really exist yet... but I expect it to someday.
It's been amazing to grow up when computers were just being invented and watching the blossoming of technology. I watched science fiction become reality. Still, I'm positive that all the really cool shit like curing death and vacations to Mars are going to happen right after I die.
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It's hard to tell where exponential growth will lead. Here's to hoping we live to see the good stuff.
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Hello @edicted yes cryptos could facilitate the transition if many understand what you explain...
I dont see any growth in the world but pollution and too many debt slaves
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Hello edicted,
@SteemEngineTeam would like to take the time to thank you for signing up and participating in our community. Your contributions and support are important to us and we hope you will continue to use our platform.
We plan to give back to our community members, so have an upvote on us!
Thank you.
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What? Care to explain this part?...
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the reputation systems of blockchains may prove to be more powerful than the currency of coins. goods and services rendered could be given solely on reputation and have nothing to do with money. as long as you contribute more than take your reputation would be very high.
have you ever been to a military town and seen random people pay for veterans with a "thank you for your service"? It's kinda like that.
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cryptocurrency is growing worldwide that's good
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This is a very interesting concept about the blockchain....I hope a lot of ideas will come about
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Oh man that's too much but I'm beleive it!
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Nice view, potentially a good sense of judgement
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It's chilling to think of from where we are now. But consciousness and times and technology are evolving so quickly and then tripling and quadrupling their rate of growth that this could come very soon.
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