Know it or not, the early stages of the fourth industrial revolution is upon us. Building on the digital revolution, it is a fusion of technologies that blurs the lines between the physical, digital and biological worlds. Cryptocurrencies are the most visible part of the revolution and are being used to get people comfortable with a fully intangible currency, but the shift is much deeper than that and the speed of this shift is unprecedented.
The technologies that form this revolution are AI, robotics, sensors and the internet of things, blockchain and DLT, 3D printing, autonomous vehicles and bio-engineering.
Want to avoid long TSA security lines at the airport? Voluntarily scan your iris or fingerprint, that will speed things up. Now that information is in a global database. At some point, what was once voluntary is most likely to become mandatory.
How about those sensors and cameras on every city corner? Cities are paid to put these in place. Why would a company pay to have the ability to put these surveillance tools in place?
Those that want us to embrace this shift want you to believe it is for your benefit and do not want you to know who is in control. Their preference is to avoid “a political problem for the central bank” “Hence the value to a central bank of working indirectly” (pg 10 “Breaking Through the Zero Lower Bound”) Cryptocurrencies have been touted as being “outside the system” yet wall street is embracing and creating new financial products around them, so are they really outside the system?
There are always two sides to a coin. This technology could be extremely beneficial for humans, but there is also a downside to total global connectivity. The more people that aware of ALL possibilities, the more choices we are likely to keep as we journey into the fourth industrial revolution.
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Chief Market Analyst, ITM Trading