The Future Of Incomes And DAOs
Many are fear the impact of automation on jobs. While there is still some debate, it seems to be agreed upon by those who are in the business of developing technology that jobs are going to be a casualty. These people understand the pace technology is going at, thus making it hard to transform a workforce.
This, of course, brings up the question of income. How are people going to make money if they do not have jobs?
Utopian thinkers believe this is going to be the emergence of a time when humanity is free from loathsome work and can pursue experiences that offer more to society and people actually find pleasure in.
We will have to see about that outcome but there are signs of what our future, which is near, will look like.
This week, @whatsup provided a post about a wireless hub that actually earned cryptocurrency. It is a project designed to provide people with internet access without having to go through an ISP. This strikes a chord on a couple different levels.
It is obvious the project is aimed at providing decentralization. If we can decentralize the way people go through the Internet, then they are not prisoner to a major corporation who controls their access. By creating such a system, the reward concept of crypto-economics makes it doable.
I guess I have to put in the proverbial "this is not financial advice" at this point.
This is not financial advice.
The project is called Helium. It is a project that is looking ahead to the Internet of Things. With the projected forecasts of billions of more devices going online, it makes sense to start putting out more wireless hubs.
It is selling its hub for $495. The hub provides roaming access to anyone within range. It does not use cellular or WiFi to connect. As more units are place, they interconnect to create a form of a mesh network.
What is interesting is the Hotspots act as miners on the Helium network. Each time a hub is used, it is paid in Helium. The means that the hotspot is actually an income generator.
Here is @whatsup post:
https://www.steemleo.com/busy/@whatsup/decentralizing-the-internet-helium
Another article that I came across was written by @dtrade. It asked the question could the DAO be the ultimate Universal Basic Income provider? Certainly, that is something that I see fitting in line with all of this.
Because of advancements in technology, especially AI, there is a likelihood that the future will see more power systems running more of our lives. A great deal of the jobs handled by people will be converted into these systems.
However, with progress comes opportunity.
The Helium project is a prime example of what is possible. We obviously have no idea if the hub will be net positive, especially to recoup the $495 used to purchase the item. I guess this could change if it enables one to rid him or herself of the monthly Internet bill from the ISP. At the same time, if there were a large build out of these in an area, one might be able to ditch the mobile bill. That, alone, would provide an incentive to people to put one of these in.
There is also the fact to consider that a project like this, if it does take off, will see technological advancements in the device which, usually, results in cost reduction. What is $495 today might be $395 in a year or two.
Either way, the fact that it is a device that is providing income is exactly what @dtrade was referring to. Each hub is effectively a DAO, albeit a very small one. It is providing income via tokens without any input from humans. As long as the device is plugged in (and operational) it will connect and collect money.
We are already seeing online activities being monetized. Tribes, and eventually SMTs, are going to start to "tokenize the Internet". This is a very important step since many of our actions are already tied to the digital world. Providing incomes to people for activities they are already doing is going to be a big part of the process.
However, that does not cover the DAO. Where does this fit in?
Ultimately, I think it is the next wave in contribution and giving. There are going to be people (actually there already are) who are working on projects, providing their expertise. which will end up paying out to millions. Open source, free downloads of software that automates a particular activity while creating a profit is going to be commonplace. A trading application is such an idea.
Automatic creation of income along with distribution will alter how things are in the future. Cryptocurrency is one of the main solutions to the income problem as I see it. People are going to be rewarded in ways they never imagined. As the first wave of people reach "crypto abundance", the focus for many, especially on the development end, will turn to "crypto abundance for all". This is now possible with ability of anyone to create a currency.
So I would conclude, yes, DAOs are going to be providing incomes to billions of people across the planet by the end of the next decade. Since I see things being spread out across millions of different networks, I doubt there will be one income form for all. Instead, people are going to be getting hundreds of different tokens each month. Where they will come from depends upon what areas people are involved in. Every area of interest (life most likely) will provide a payout. That is going to differ for each person but all will have some kind of value.
https://steemitimages.com/640x0/https://ipfs.busy.org/ipfs/QmQ4ZN5XNpqQdTgiuHXJmd5WyGnF4obzRWFPhY4eyqLkYf
A blockchain like Steem is already getting a head start on this process. We are seeing dozens of different tokens distributed on a daily basis. People are being rewarded for their activities, ones they use to undertake on a centralized platform somewhere. Now, instead of some corporate entity profiting, the individuals are.
Also, we are seeing Steem's first DAO in operation. The Steem Proposal System is providing developers with incomes for their services regarding development projects the community deems beneficial. The entire process now, from my understanding, is completely automated with payouts already started. I do not believe there is any end to this system, thus it will keep paying out an income to developers/entrepreneurs for decades to come.
Obviously the scope on this project is rather limited with only a handful of people being paid at a time. It is vital, however, to consider this is only one project on one blockchain. What happens when there are tens of millions just like this?
To read the post by @dtrade:
https://www.steemleo.com/steemleo/@dtrade/can-blockchain-provide-us-dao-based-universal-basic-income-ubi-and-ultimate-automation
It is easy to see how automation can be turned around to our advantage; This is why I am such a big proponent of decentralization. Automation already generates hundreds of billions of dollars each year across the globe. Unfortunately, this is only benefiting a small number of people, proportionately speaking. Mega corporations in Silicon Valley and on Wall Street are the main ones to gain.
The process we are seeing being developed is shifting this. Instead of it only benefiting those entities, the paradigm shift is going to see individuals who are able to participate.
Thus, to me, it is pretty clear where we are going. It is only a matter of how long it will take. That is going to depend upon the mindset of the individuals who are creating these systems. The more people who take the approach of designing things that impact the greatest number of people, the faster the process will go.
I believe there are enough people out there already in this state of mind. Each suggestion brings us one step closer to making it a reality.
As I said earlier, the first wave of those who achieve "crypto abundance" will be able to dedicate more time and resources to this end. That is why I feel it vital for all early adopters to take advantage of the opportunities to set themselves up financially. We still operate in a financial scarce world since the present system dominates. Thus, we need to be the bridge between these two paradigms.
Doing this will enable the tools to be created to spread the oncoming abundance to the billions who presently are left out. This is where the other 97% can step up and make a difference.
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