We hear a lot of talk about "the economy". This can obviously refer to different things. When people say this, they are most commonly referring to the global economy or those of the major nations. We tends to see the U.S., China, Japan, and the EU. All the rest, unless you are located in a particular area, tend not to matter until things go wrong such as with Venezuela.
Globalization has resulted in a push towards "bigger". In many regards this is a good thing. A larger global economy, on the surface is welcomed. It has resulted in more jobs, increased transactions, and more innovation. It also saw the growth of larger corporations which eradicated small businesses in the developed countries.
We are in the process of watching the power of some corporations rivaling governments. This means that we will see a battle for control. The EU is already stepping up efforts to reel in the mega-technology companies. In the United States, there is talk about following a similar pattern.
The challenge with all this is that individual end up on the losing end no matter how things unfold. Sure, putting in some parameters to rein in the abuse of the mega-corporations could benefit things in the short term. However, it is only a matter of time before someone else comes up with a new technology that gets around whatever the governments were trying to control.
Of course, what is going to rein in the governments as they get bigger and more abusive around the world. Individual and, even, national sovereignty are dying very quickly.
One of the most attractive features of blockchain coupled with cryptocurrency is the ability to pursue freedom. On here, everyone is sovereign. It starts with having money that is outside the control of a single entity and expands from there. While in the early stages, we are seeing some of the signs of what is to come.
Technology is like water in many ways. The more one tries to squeeze it, the less it can be held. We see all kinds of efforts trying to slow things down. Regulation is one of the most effective weapons traditionally. The challenge is that technology is mobile. It can go anywhere. If one country bans it, another can pick up the slack.
We are seeing that with blockchain companies. Those that are welcoming to the technology are seeing companies move there. Those that are not, like the United States, are going to lose the talent.
One the individual level, we are seeing a transformation also. People are now being given choices. Even with a blockchain like Steem, the foundation is being set where mini-economies are popping up all over the place. Over time, some are going to grow in size, offering those involved in that "economy" the ability to benefit.
Each time we see a community form along with a token, that suddenly becomes an economy. Whether it has a million people involved or only a few dozen, the fact is the same. People have the ability to transact and exchange value. It is up to them to determine exactly what is valued.
I like to equate it to the times of yore. A couple centuries ago, people were separated. Communication was not very good and travel harsh. This meant that a distance of 50 miles was akin to the other side of the world. The result of was a lot of little towns spread all over the place.
These towns became self sufficient. They were local economies. Businesses were set up by individuals to serve the needs of the community. There was often a general store, blacksmith, saloon, and, yes, a bank. People were involved in the creation and selling of products along with their services.
It was an analog world naturally. This meant that things were slow and growth minuscule. However, we have the ability to take the best part of that time, the mini-economy, and add in the speed and power of digitization.
That is exactly what Steem is offering.
There is a lot of discussion in the cryptocurrency world about Whales. Obviously, those who are Whales in Bitcoin have a great deal of wealth and influence. For most of us, that ship sailed. This is also true for STEEM. Most of us are not going to get 500K+ SP to put ourselves in that category.
The same is not true in smaller communities. It could be a lot easier for someone to become a Whale in the Marlian or Sportstalk tribe. Or going a bit further, the natural health or homesteading communities could be areas where one can amass a significant amount of stake.
What is vital is the fact that the Whales in all these different communities are going to be different. It is where the power of distribution comes from.
As an example, Warren Buffett is one of the richest men in the world no matter how you look at it. His influence is the same no matter where he goes. By the same token, Jeff Bezos' power is unmatched regardless of where you look. Anywhere Amazon is selling to is in the realm of Bezos.
This is a situation that runs across the board.
Things get much different when you start to look at things from the mini-economy perspective. A Whale in the LEO tribe has no influence in the natural health realm. The influence one exerts in one area means little elsewhere unless that person is in that community also. Being the "Warren Buffett of PALnet" means nothing to the DPORN community.
As this idea starts to expand, drawing in more people, we are going to see more goods and services being offered. Once again, this takes things from the major, big corporation level and spreads it around. People can instantly offer their products out without the high fees often associated with other platforms. It also offers up an avenue for creation and ingenuity. Businesses are going to start that will be centered around specific communities. Some will find they are making a living just off what they offer in their mini-economy.
As we move further into the digital world and we start to establish "virtual cities" as VR technology begins to take hold, we are going to see the ability to generate wealth reach epic levels. Since I believe we will see this development taking place within different ecosystems like Steem, having a stake in those communities will put on in good position to benefit.
Ultimately, the more that is added only benefits those who are already here.
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We want this. Think it will be done soon.
Posted using Partiko Android
This is a different perspective of the tribes/SMT communities concept that I hadn’t considered, but it makes perfect sense. I suspect both implementations could benefit from some tweaks to really make this economic perspective stronger than it seems to be today (or at least more obvious). I need to cogitate on this some more....
Steem is a hidden germ. Most of the crypto/blockchain communities haven't yet discover the power of Steem. Having ability to create a community + token on the blockchain without coding is HUGE. Just think about existing communities found in colleges.
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