Blockchain, artificial intelligence and internet platforms are the future of the economy and trade – says Balaji Srinivasana, former director of the Coinbase cryptocurrency exchange and author of the book The Network State. In his opinion, national countries will be replaced by the so -called network countries with cryptocurrencies as currencies.
Blockchain and AI is the future of the economy
The economy in developed countries undergoes transformation – it is changed by new technologies: Blockchain and AI
The traditional economy is forgotten to the online economy
– wrote Srinivasan in the post on X.
He added a chart showing price diversion between the actions of technology companies that are more expensive and the other companies from the S&P 500 index, whose quotations persist on a relatively stable level since 2005.
The S&P 500 is one of the main economic indicators in the USA, a weighted stock index of 500 largest companies in terms of market capitalization listed on the American stock market. The so -called Technological giants: Apple, Microsoft, Amazon, Google, Meta Platforms, Nvidia and Tesla come in great seven. So Srinivasan notes that he is pulled up by technology companies.
Network countries
Srinivasan popularized the concept of the so -called network states, dispersed online communities, which, he believes, one day will replace traditional national states.
Network countries will be based on digital money in the form of cryptocurrencies and change how we perceive statehood. It will be a revolution such as the transition from agrarian to industrial economy.
Regulators and legislators in the United States are currently pressing the research, development and integration of artificial intelligence and blockchain technology. This is to modernize the financial system. The US government also benefited from the services of service providers – Pytwork and Chainlink – to publish government economic data in the on -chain model, which increases the transparency of the state and the public budget.
AI and Blockchain will certainly change how we work and how countries work. Many aspects of our lives will be automated. Countries that will not take part in this revolution will become third world countries, their economies will be backward and uncompetitive.
