Are You Ready for the 4th Industrial Revolution?
The Fourth Industrial Revolution refers to the current and developing technology trends that are expected to have a significant impact on society and the economy, such as automation, artificial intelligence, and the Internet of Things. The use of blockchain technology is one example of a trend that is expected to play a role in the Fourth Industrial Revolution. The blockchain is a decentralized digital ledger that records transactions across a network of computers. It can be used to facilitate secure and transparent transactions of digital assets, including cryptocurrencies. The impact of blockchain technology and other Fourth Industrial Revolution trends on the fiat monetary system is an active area of discussion and debate among experts in the field.
“The only way to make sense out of change is to plunge into it, move with it, and join the dance.”
Alan Watts
Whether people in general are ready for the Fourth Industrial Revolution and the potential upheaval of the fiat monetary system is a subject of debate. Some experts believe that society and the economy are well-positioned to adapt to and take advantage of these developments, while others have raised concerns about the potential for widespread disruption and job loss.
In terms of Blockchain technology, it is still in its early stages of development and it is difficult to predict its long-term impact on the global economy and financial systems, but it has already shown the potential to bring transparency and security to various industries.
However, widespread adoption of blockchain technology and cryptocurrencies would likely require significant changes to existing financial infrastructure and regulatory frameworks, which could take time and be met with resistance.
In any case, the ability to manage and adapt to changes brought by the Fourth Industrial Revolution, including those related to blockchain and cryptocurrencies, will likely depend on a combination of factors, including government policies, investment in education and training, and individual and collective adaptability.
It happened over night On 8th Nov. 2016 the currency is demonetized third time by present Modi Government. On November 8, 2016 PM Narendra Modi declared that from the stroke of midnight 500 and 1000 rupee notes would cease to be legal tender. This immediately sparked unrest and an estimated 15 tonnes of gold was purchased within an hour of the announcement. ATMs and banks soon ran out of cash. The situation only deteriorated thereafter.
One of the earliest instances of demonetization was in the United States. The Coinage Act of 1873 mandated removal of silver in favor of adopting the gold standard as the legal tender. This led to a contraction of the money supply and subsequently a 5-year economic depression in the country.
And in 1969 President Richard Nixon declared all bills above $100 null and void in the United States of America to curb the existence of black money. The move was claimed highly successful by the government and is claimed to have been the starting of development of the American banking system.
There is a push towards digital cash, or cashless society. You don’t hear about it much in the MSM and like the frog in the boiling water, it could creep up slowly on us. But if you look, the signs are everywhere (just not in the mainstream legacy media.)
It could creep up slowly, or happen over night. It’s not unprecedented and it can be quite chaotic. Are you ready for it?
One thing the ladies and I are doing to prepare ourselves for a possible loss of cash, is we have planted our garden and growing as much as we can. You can watch a bit of that video here. Of course, there is always the cow sanctuary right outside my front door should we need milk for tea.
Resources and more info
Crypto to central bank digital currencies
From crypto to central bank digital currencies, this recent podcast series breaks down what’s happening across the rapidly evolving fintech landscape.
