Digitization Of Everything: This Thing Is Bigger Than Most Realize

in Threespeak3 years ago

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Looking at cryptocurrency from purely a financial perspective is fairly short-sighted. That is focusing upon only a small part of what is taking place.

The digitization process is going to expand very rapidly. This means that we are going to see a world that can expand to near infinite proportions.

As we know from other digital platforms, the Network Effort can give rise to incredible values very quickly. With an expected 8 billion people online in the next few years, we are seeing up for a Network Effect we never saw before.

In this video I discuss how big all of this is going to be and how we are creating something that really contrasts the present economic system. We are about to see the merging of a major industry with crypto based assets. Once this happens, the explosion will be mind boggling.


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Digitization brings potential for enormous increases in efficiency, and endless new opportunities through programmability. Only our imagination is the limit. It is very interesting to me to see all the new ideas popping up and people working towards them.

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Yep blockchain is the beginning. Next will be virtual real estate.

Just wait we are just seeing the potential.

So when do I get the virtual swordsmanship and ranked battles with all comers like snow crash?

I have to admit it is going to take time to come to terms with all of this as this is total change. We see the shambles in Turkey where the government is banning the use of crypto, not the buying but the usage as they are scared of their currency currency being replaced. We are seeing current systems failing as they all have shortfalls.

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Despite the struggle against crypto by governments and others, the idea is spreading
Like the beginning of the emergence of the Internet, companies and others used to keep paperwork and did not want to move to the Internet
But over time they had to accept the idea
The same will happen with crypto

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The Metaverse is definitely an interesting topic. I personally like NFTs because they have so much utility but I feel like it is being overshadowed by the hype by artists. Most of them have almost no use case and they are like collectors item. So I would like to see this being expanded further and become a larger part of the digital world with actual use cases.

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@taskmaster4450 and @jfang003 I made my first money in Linden dollars in Metaverse.In Second Life, back in 2006, teaching. What an experience! Wouldn't it be amazing to create such an opening for this ecosystem as well, somehow?

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It would be nice. I had a roommate who played Second Life but I never really could get into it. I know it was centralized but it allowed people to convert the money there into real fiat.

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Yes. I used it for teaching and some extra fun back then but needed more fiat and real fun than they had to offer. hehe!

Love your blog man!! Keep up the championship accomplishments in this space!! Nice see a bit a btc moon. Cant help but think of guys like you. This new becoming is really er, um, fun, interesting & intense. Lol Cheers!!

The network effect can have some bizarre side effects as well, like pumping a meme coin for no apparent reason :)

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Stay trippy man!

Summary:
In this video, the speaker emphasizes the significant impact of blockchain, cryptocurrency, NFTs, and digitization on the financial industry. He discusses the challenges and limitations of the current financial system and highlights the potential for exponential growth and wealth creation in the cryptocurrency space. He predicts a massive shift towards digital assets and decentralized economies, particularly focusing on the potential of blockchain technology in gaming and the development of a metaverse. The speaker underlines the importance of understanding the technological advancements and the potential for a complete transformation of traditional financial markets within a short timeframe.

Detailed Article:
The transcript begins with Task highlighting the rapid growth and progress witnessed in the blockchain, cryptocurrency, NFTs, and digitization space over the past years. He reflects on the massive advancements in the industry since the start of 2020, asserting that what we are currently witnessing is merely a "drop in the bucket" compared to what is to come. Task discusses how the present financial system is plagued with problems that it cannot overcome, setting the stage for a new alternate system to rise.

One of the main themes throughout the video is the concept of exponential growth and wealth creation within the cryptocurrency space. Task compares the potential impact of blockchain and digital assets to be 100 times greater than that of the internet. He points out the flaws in the existing financial system, such as the decline of various markets like the bond market, equities, and interest rate-dependent credit markets.

The speaker delves into the importance of yield in the flow of capital and how traditional financial markets are facing challenges due to currency debasement and low returns. He mentions the emergence of DeFi and yield farming in the cryptocurrency space, positioning it as a crucial factor in the industry.

Task expresses his belief that the future lies in the integration of gaming into the digital asset and cryptocurrency realm, foreseeing immense growth and wealth distribution in this sector. He elaborates on the concept of NFTs, digital ownership, and the potential for a network effect that could revolutionize the gaming industry.

Furthermore, he discusses the inevitable digitization of almost everything in the future and the transition towards a spatial internet with three-dimensional interfaces. The speaker emphasizes the need to view investments through the lens of the metaverse, underlining the transformative potential of technology on financial markets.

In conclusion, Task stresses that the present financial systems and institutions, including traditional giants like Goldman Sachs and major banks, may not have a significant place in the emerging digital economy. He predicts a rapid transformation within five years, whereby the current financial markets could become obsolete while highlighting the exponential growth potential in the cryptocurrency and digital asset space.

The overarching message conveyed in this video is the monumental shift towards digital assets, blockchain technology, and decentralized economies, redefining the future financial landscape beyond what is currently conceivable. Task emphasizes the need to adapt to and understand the technological advancements shaping the financial world to fully comprehend the vast opportunities and transformations that lie ahead.