I recently put up a video detailing how I feel the "Race is On" between the crypto world and the established system. This stemmed from an interview Ray Dalio did where he stated that, if the price of Bitcoin keeps rising, governments will move to outlaw it.
While we know that eliminating Bitcoin (and cryptocurrency in general) is not possible, governments can make it very uncomfortable for people who hold it. With their guns and jails, they can push the masses into obedience.
This is creating some interesting bedfellows.
It is not a great secret that we are moving towards, if we aren't already there, a technocracy. This is where technology replaces the democratic system. Unfortunately, with the powers that are in place at the moment, we are seeing more of Orwell's 1984 as compared to a new utopia forming.
With the activities of YouTube, Facebook, and Twitter in the media, we see how this is unfolding. Now, we are getting news that the voting machines were programs to alter votes and/or weight some votes more heavily than others.
At the moment we are seeing a union of the technology companies and governments. However, this could shift as the former become scorpions and turn on the later.
Obviously, we know that finance is at the core of powerbase in our world. Those with means end up in a much better position as compared to those without. The reason many of us are so excited about cryptocurrency is it presents the opportunity to enhance the financial capabilities for all who participate while creating more wealth overall.
This is not something the power structure wants. Hence, we are seeing the resistance, something that is likely to get ratcheted up as time goes by.
Fortunately, there are enough technically advanced people out there who do not want to see a dystopian future. Instead, they want to promote technologies that benefit people.
Ben Goertzel is one of the premier AI minds in the world. A few years ago, he entered the decentralized blockchain world by starting SingularityNet, an AI platform with a token on the Ethereum blockchain.
Part of his vision is the fact that, in his view, AI is only in the hands of about a dozen companies and a handful of governments. Their use case is trying to figure out ways to sell us more stuff, spy on us, and kill more efficiently. This is not a great path for humanity to go down.
For that reason, he decided that AI needed to be decentralized. SingularityNet is a platform that is allowing developers of AI to come together with those individuals and companies that need it. This is enabling any company, no matter how small, to enter the arena.
The platform made an announcement that is likely capture a lot of attention. Since financial means are so important, they decided to set up SingularityDAO. This is meant to offer financial solutions to the masses.
Here is what their website said:
SingularityDAO is a unique layer 2 noncustodial DeFi solution, configured as a DAO that is completely decentralized and democratically governed — it allows members to create and trade ETF-like dynamic token-sets that bundle utility tokens, including tokens with only moderate liquidity, and then enables a yield farming and futures-based hedging ecosystem on top of these token-sets.
One of the key things is that this is not an "ETF-like" product for Bitcoin. That is obviously something the crypto community is waiting on. Instead, this is for alt-coins that lack the liquidity of some of the bigger projects. The idea is to help get these projects financially sound via more trading opportunities. Goertzel realized that tokeneconomics can plat a large role in fostering wealth. His view, however, is not so much about enriching the individual as compared to giving decentralized software projects the means to fund their development.
Of course, for those who are speculating and looking for longer term investments, this could be a great opportunity.
Lacking the time, so far, to go through the White Paper, I am going to presume these funds are "managed" by AI. This is another opportunity that is opening doors to the masses. Some Wall Street funds are set up this way but, of course, most of us are excluded from that.
Another powerful aspect to this is the fact that it is a DAO. There is no controlling entity, no KYC/AML, and not regulatory body. It is taking DeFi to another level. This certainly is something to monitor.
Powerful decentralized tools are what is going to allow for this industry to stand up to the existing system. As more people become outcast from the "inner circle", they are going to look for other means. It is up to us to ensure they are available.
If this does not get the juices flowing, how about a new offering called: the initial data offering. Here a users dataset can be associated with a token and traded on a DEX. Ocean Protocol is already putting this together.
It is important to note that there are some advanced things happening in the crypto world. Decentralization is something that many highly talented people are committed to and they are making outstanding progress.
The next couple years are going to be very interesting.
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