Web 3 Is The Only Way Out: Why Crypto Has To Succeed
This is a rather interesting video pulling some different ideas together.
I wont try to explain it here.
Basically we are going to deal with technology, UBI, web3, job loss, deflation, and governments. It is an interesting thing to game theory and try to see what options there are.
Ultimately, we are going to have to see the success of Web 3.0.
▶️ 3Speak
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The United States is the best-looking horse in the glue factory.
Yep and no thoroughbreds there.
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Summary:
In this video, Task discusses the age of abundance in connection to the potential downfall of governments. He touches on the deflationary nature of technology, the impact of advancing technologies like Artificial Intelligence (AI) and how they contribute to job losses. Task emphasizes how Web3, cryptocurrency, and blockchain-based systems could provide a solution to the impending crisis caused by technological advancements and unsustainable government structures. He acknowledges the challenges governments face in maintaining social services and paying off debts, highlighting the potential collapse of some major governments and the importance of digital assets in this changing landscape.
Detailed Article:
Task starts by elaborating on the concept of deflation in the context of advancing technology and its impact on jobs and asset prices. He connects this deflationary trend to potential job losses due to automation brought about by technologies like AI and machine learning. Task emphasizes the importance of understanding how deflation can manifest in areas beyond goods and services purchased, such as in job markets where companies facing tighter margins may resort to layoffs during economic downturns.
He then delves into the looming crisis of governments being unable to sustain their current spending due to factors like aging populations requiring increased social services. Task discusses the risk of governments collapsing under the weight of escalating debt and the challenges they face in selling their debt. He points out the implications of governments not being able to meet their financial obligations, including pension funds being at risk and the potential fallout for average citizens.
Task highlights that traditional solutions like universal basic income may not be feasible for all countries, especially those with weaker economies. He discusses the limitations of taxing technologies that render older metrics obsolete and questions the sustainability of current government models in the face of technological advancements and changing economic landscapes.
In proposing Web3, cryptocurrency, and blockchain-based systems as potential solutions, Task underscores the need for individuals to have assets that can generate returns in the evolving financial environment. He argues that the current system is flawed across various sectors – governments, corporations, businesses, and industries – and posits that these structures are likely to face failures in the near future.
In conclusion, Task advocates for embracing Web3 and digital assets as a means to navigate the challenges posed by technological advancements and governmental instability. He warns of the impending crises on the horizon and stresses the importance of adapting to a changing financial and technological landscape for a sustainable future.
Notice: This is an AI-generated summary based on a transcript of the video. The summarization of the videos in this channel was requested/approved by the channel owner.