8
In the past year, the value of Bitcoin—a peer-to-peer, decentralized, digital currency—has fluctuated in price from a low of $13.50 to a high
of $1242 (at the time of this writing). It’s too early to tell whether Bitcoin has real staying power or if it’s just the latest in a long line of technology bubbles but what is clear is that the tomorrow’s digital economy will make use of some form of cryptocurrency—be it Bitcoin, Litecoin, Peercoin or some other as-yet-created cryptocurrency. The reason cryptocurrency is a game-changer is because the number of “coins” has a fixed upper limit and, therefore, can’t be manipulated by a central authority. (This imbues it with attractive anti-inflationary powers.) Cryptocurrencies have the added benefit of very low transactions fees, which makes them an ideal platform for micropayments and transferring money. For these reasons, a new cryptocurrency—assuming it achieves a deep level of trust among its users—could greatly facilitate global commerce, while fundamentally transforming how banks, central bankers, merchants and consumers think about
and use money.
9
are designed. As autonomous vehicles become more popular, fewer people—especially among younger and older people in urban areas who
aren’t especially interested in being burdened
with expensive car payments, monthly insurance bills or locating parking spots—will find it unnecessary to own a vehicle because calling up an autonomous vehicle on demand will be quick, affordable and convenient.
Even consumers in suburban and rural areas may forego owning a second car and, instead, rely on autonomous vehicles for those times when a second car is needed. By Google’s estimate, autonomous vehicles could replace 80 percent of today’s automobiles (the average vehicle is estimated to sit idle for 22 hours a day). With fewer cars are on the road, traffic congestion could be substantially reduced; and city planners and architects will be free to re-configure much of the public space currently devoted to parking.
10
And therein lies the most amazing aspect of these game-changing technologies: they are engaged in a virtuous cycle whereby advances in one field accelerate advances in another. For example, MOOC’s may help educate the next great quantum physicist who, in turn, creates a company (funded entirely by anonymous donations of a new cryptocurrency) that manufactures a practical universal quantum computer that is used to discover a new fuel that makes spaceflight affordable to the masses.
The game isn’t just changing, it’s changing at an accelerating velocity. Tomorrow could figuratively—and, perhaps, literally—be out of this world.
Jack Uldrich is a renowned global futurist and the best-selling author of 11 books. He is a frequent guest on national media and regularly appears on the Science Channel’s new television program, “FutureScape.” He is the founder and “chief unlearning officer” of The School of Unlearning—an international change management consultancy.
image source: dailybitcoin.com