Was Crypto meant for Machines or Humans?

Was Crypto meant for Machines or Humans?

 

Technology sometimes is playing with human intellect. Ten years ago, people used to find comfort in interacting with physical assets including money, stocks, and contracts but the generation of blockchain and crypto have turned this scenario around and all these assets are now present in the virtual form.

The shift from analogue to digital world has impacted positively for the crypto user and more so for those who believe in a 100% digital world. Those who feel like the new technology is disruptive way think crypto is made for the machines but sometimes fail to forget that eventually machines are designed to work for humans.

Humans, Machines and Digital Economy

It is hard to separate humans from technology due to the dynamic nature of their synergy. All inventions in history are designed to make life better and the shift from the analogue to digital economies cut across the global population lifestyle.

However, there are those who think crypto is made for machines and not human beings after all. IoT, for example, makes life better  – with faster transactions facilitated by machines. Crypto is characterized as human-centric cannot be separated from the digital world.

In a recent controversial tweet, Pomp @Pompliano said:

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 Humans and Machines Meeting Point

Unlike ten years ago, right now crypto is already cutting across the borders. The underlying technology has created a single global nation that is not governed by a single authority. It connects billions of users across the globe 24/7. The technology has broken all physical boundaries and the crypto users can now speak one language facilitated by machine powered transactions.

Unlike the analogue world, the digital generation is not geo-restricted by physical proximity. With a simple smartphone, you can transact business messages anonymously from the remotest part of the world. You initiate the transaction, the machines take over, but the recipient is human too. The entire connectivity makes the user life better and you can transfer value quick.

The questionable issue is over-reliance on machines; a day never passes without one consulting the supercomputers in their pocket. With the help of machines, you communicate, transact and learn at the touch of a button. The humans tend to consult machines when they are stuck and this is how crypto works too.

Why Crypto, Machines, and Humans Are Inseparable

Crypto hype is real, and from now on one cannot use old technology to make life better. The technology is moving to a level where transactions are settled faster and to micro levels which are the ideal human desire but the technology is not ripe for that since machines are being pushed to perform duties beyond their capabilities.

Despite government resistance, it is possible to have a global currency that is not tangible but has proven to be capable to purchase goods and services on top of other forms of settlements.  Crypto decentralization and transparency features are good enough for humans to shift from fiat to crypto. Besides that, Bitcoin and some selected altcoins are now compatible with machines.

The growth of machine-to-machine transactions is no longer a secret. This has come with low fees and faster transaction times irrespective of amounts and location. This explains why many people are exiting the fiat economy and embracing crypto.

The beauty of the digital economy is the use of smart security which machines are capable of transacting faster in a transparent environment. These types of securities are easily divisible and good vehicles to transfer value.

Crypto Killing Bureaucracy Softly

The crypto underlying technology is no doubt killing bureaucracy softly. The entry of smart contracts is a game changer in human life. Issues of counterfeits are being addressed by machines with the human input and this has increased trust and transparency.

At this age, humans and machines have become inseparable and the future seems bright for humankind as long as they keep improving on the current loopholes. Blockchain and crypto have interrupted so many industries and they have not yet scratched the surface…