Hive And The Future of Jobs

Elon Musk recently opined how work is about to go away. Due to advancements in artificial intelligence along with robotics, the idea is that most basic human needs will be met. This is something that many feel is about to happen, as AI replaced a great deal of knowledge work.

Of course, this creates a problem since people depend upon jobs for sustenance.

Now, we must state that Musk's position is controversial. At the same conference, the co-founder of Deepmind disagreed.

It is long believed that technology always created more jobs than it destroyed. This is a statement constantly espoused by futurists and technologists. It is something I disagree with. In fact, looking at the labor force participation rates over the last 25 years, it seems like the exact opposite happened.

There is sound reason for this. Let us take a look at where this debate stands and how Hive could be a solution for many.

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Deflation

Many feel "inflation bad, deflation good".

People like when prices go down, hence deflation (if we are defining it as a drop in price) is of benefit. What people do not look at is the deflationary environments are train wrecks. They end up destroying jobs. When no money is coming in, does it matter what is taking place with prices?

Technology, by its nature, is deflationary. This means that what Marx discussed, the idea of deflation affecting the working class to a greater degree, enters the picture.

Even Peter Diamandis, who is in the "always creates more jobs" camp disagrees with his over views. Part of his 6 Ds of technology is "demonitization". This is another word for deflation.

Hence, a massive expansion in technology creates a deflationary environment which affects jobs. While other industries and markets can open up, there is n guarantee those jobs will be for humans.

As they say, the robots are coming.

What Happens Without Jobs

Obviously this is not going to happen overnight. Nor will it takes place in a linear fashion.

Some industries are going to be affected sooner than others. My personal view is the white collar sector is most at risk. The advancement of chatbots in just the last year shows how quickly things are moving. We went from this technology being introduced by OpenAI to now it is being incorporated into most of our platforms.

This is just one example of what is taking place.

Entire industries will be completely disrupted over the next half decade. This will occur while the progress in robots is being made. At present, that is still a rather limited field. By the end of this decade, could we see robots doing a portion of the jobs we see done by humans today?

There is a fair chance that takes place.

So what is the defense against this?

As always, it comes down to assets.

Hive Offers An Oasis

Hive is an oasis against what is taking place.

To start, Hive is technology based. That means whatever waves arise over the next decade, we can ride it. Advancements in computing, storage, and software all can be incorporated into what is built here.

Another benefit is we are dealing with crypto-assets. Many believe tokenization is the future. Here we see an industry that, in my view, is going to enter the quadrillions in value. Tokens are what allow that value to be captured.

Since we are still in the early stages, many start up will arise that end up as major players. Individuals have the ability to acquire stake, enjoying the financial benefits that come from the value appreciation.

We also are building a system which is inclusionary. This means people can get involved in this financial system, something that is off limits to billions in the old model. Having access to basic financial services is something that will change the lives of most of the planet. The idea of "banking the unbanked" is just the start. What these people truly need is a full suite of financial services that can be accessed.

I foresee a day when Hive is the "job" for millions of people. This means that incomes will be generated that provide people with the resources required to sustain their livelihoods. It could come from a variety if avenues, whether it be content creation, gaming, or something finance related.

Whatever the methodology utilized, people will acquire a steady flow of income as a result of the projects tied to Hive. As some of these develop, people will have the resources to keep building their own net worth.

Here is where the compounding occurs. With the benefit of technology, we can see things going parabolic in some areas. This will have the impact of producing outsized effects.

When it comes to finance, this makes for strong returns.

Value is generated when people build. Since it seems that many areas of Hive are intent on continuing this process forward, we can see how the value will be higher in the future. Markets might disagree but it is evident that Hive is worth a lot more today as compared to 3 years ago.

Another half decade of this and we could see markets realize the foundation that is constructed here. That is when things will get very interesting.

Hive provides some great backend technology. A decentralized database can have enormous value. The key is for us, the community, to increase the value by filling it with data.

If data is the new oil, we can see how this all comes together. Posting things on-chain has an exponential impact because it allows a multitude of applications to access it. This is only going to increase as people start to create more algorithms to utilize the data in ways not captured now.

For this involved in Hive based projects, this could be a major part of the future. Right now, we are still small and things are hard to see. However, with continued expansion, this could change rather quickly.

Ultimately, Hive could be the replacement for jobs for millions of people.

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