It’s hard to really understand whats coming when you try and apply the current practices to the new concept. With the future of blockchain you can’t copy and paste the current system of exchange and value to the new model and expect a new result.
Firstly we must look at how people will interact with the new model.
Money as we know it online, is a separate entity to what we experience. We have a look online, enjoy the experience and then if we so want to buy something, we get the credit card out and buy. The concept of purchasing online is a separate experience to the experience of being online.
We do this as it would be a rip off to waste our hard earned cash on any or little interaction with the current system. The internet is run by massive corporate middle men who take in more value than they put in. After all this is the concept of profit.
But in a fully created and integrated blockchain society consider your money, your ETH or BTC to be more of a footprint, with the transaction of value being much more flexible and integral to the experience of being online. Today this is an odd concept because we spend as we acquire and it takes a lot of effort, with the massive efficiency of block chain technology, the effort of transferring money and value will become as effortless as signing up to a forum or typing in your email for a free gift. What we don’t realise now is how much we are actually giving away (personal info/privacy) every second online, that has a monetary value and the Ethereum/blockchain world will soon represent that value.
This value will effortlessly flow both ways. An example of this is the future of advertising online.
Facebook and Adwords are kings of online ads, if you want to interact with your customers you have to go through a sort of people exchange. It is half way between the old idea of signage and the modern internet. It’s a yellow pages online only it has everyone’s info. Now imagine the future adverts company has no need to make profit. It is run by a programme and setup for the benefit of its users who are the shareholders. Both Customers looking for stuff and manufacturers trying to sell are users and shareholders. The value will transfer between those two parties.
Put it this way: you’ll be paid directly to watch adverts. Instead of paying Mark Zuckerberg for permission to speak to the public, the manufacturer will pay you directly for viewing the ad, cutting out the middle man and saving money through its efficiency. The manufacturer will be a user of the system and have a say equal to to the customers on how its run through blockchain DAO tokens (or a similar concept).
So consider how easy it will be to spend your Ethereum online when it will so freely come. Forget working a rubbish job, reinvest that value in a favorite hobbies. Take that passion to further make your own efforts more efficient in the real world. And with everyone working at 10/10ths on their own unique projects everything becomes more efficient and that efficiency is pumped back into the system. The cycle continues.
Looking forward to the blockchain revolution yet?