We are only getting started…
Many centuries have their definitive features and influences. The 19th Century gave us the industrialization and the British Empire. The 20th Century was the rise of America, end of communism, and the creation of the internet. We are now heading to a new era (I’d add that we are already in one).
As a millennial myself, I am very excited about what this century will define us. One word will define this century. That word is “decentralization.”
We are already halfway through this revolution. The pandemic may have accelerated some of these trends. Thanks to remote work, anyone can work from anywhere. Bitcoin, Blockchain technology and FinTech has given the unbanked access to banking. Services like Upwork, Fiverr, Spotify, YouTube, Medium, and Substack are giving computer programmers, engineers, writers, and creators to be their own person and not work for “one company.” Other services like Udemy and Coursera are giving education access to millions of people. Thanks to services like Robinhood, Coinbase, and WeBull, access to financial markets are given to millions of people. I can go on and on. But this type of centralization is only the beginning.
The internet as we know it, Web 2.0, has given people the chance to connect with one another and be their own creators. But Web 3.0 will truly create our decentralized future.
In many ways, part of our decentralized future is already here. This revolution has accelerated due to two main things, Bitcoin and COVID-19. Thanks to Bitcoin and blockchain technology, millions of unbanked have the chance to bank, exchange currency, and trade goods. Most importantly, no Central Bank is printing Bitcoin, and no one person control or tracks Bitcoin. This is truly a decentralized revolution. Thanks to the pandemic, there is no such place called the “office.” The office can be either your downtown cubicle or a beach bar in Bali. Many are quitting their jobs to start their own enterprise. With just a laptop and a decent Wi-Fi connection, you can be an entrepreneur anywhere in the world. Thanks to the pandemic, the future of education will also look very different. Thanks to tools like Udemy and Coursera and online content like YouTube videos and podcasts, anyone can become an expert on a certain subject matter within a short period of time. Thanks to Web3, the future for creators will only look bright. Anyone can be an entrepreneur, angel investor, musician, artist, writer, or creator of any sort without an obnoxious or expensive gatekeeper or middleman. The world is your oyster.
Entities that embrace bitcoin and decentralization are going to win the 21st Century. We already see countries, local governments, and entrepreneurs embrace decentralization. By completing Google-approved Udemy courses, you can get a job at Google. Localities like Miami are embracing Bitcoin. Politicians from both sides of the US political isle from Republican Miami Mayor Francis Suarez to Democrat Mayor elect-Eric Adams of New York want to be paid in Bitcoin. The president of El Salvador Nayib Bukele has made Bitcoin legal tender in his nation. High profile U.S. Senator Rand Paul has called Bitcoin the next world reserve currency. Beautiful localities like Bali and Thailand are giving the welcome treatment to remote workers and nomad entrepreneurs. Glenn Greenwald and Matt Taibbi are able to leave legacy media outlets and become true independent journalists without editorial gatekeepers thanks to Substack. I myself am able to be a writer without spending $70k at some “prestigious” journalism school or having to get a job in some legacy media company thanks to Medium. Overall, the ones who embrace decentralization are the ones who will win the future. Others will be stuck in the past.
The decentralized revolution may not be televised but will bring peace, harmony, and prosperity for the ones who embrace this revolution.
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