The first cinematographic NFT undertaking “The Future Is Now Film” reveals what blockchain leaders consider future governance methods: will there be even tighter centralization, a symbiosis of conventional and new strategies of management or do we’d like a completely new governance system to substitute the outdated one?
Answers to these questions could be discovered within the two newest episodes, “Transforming The Future” and “Aligning The Future”, which had been filmed on the AIBC Summit UAE 2021 in Dubai and Blockchance EU convention in Hamburg. Let’s dive deeper and see what futurists assume.
Blockchain Is Getting Closer to Traditional Institutions
Several years in the past, it might have been a bombshell to see authorities officers at a blockchain convention. Now, in each the AIBC Summit in Dubai and Blockchance EU convention in Hamburg, authorities officers are amongst honorable company for 2 causes. First of all, the size of the change made them discover the inevitable. Secondly, a number of the “decentralized futurists” have joined the ranks of centralized organizations in hopes of constructing a distinction.
For instance, H.E. Justin Sun, the founding father of TRON, just lately grew to become an envoy to the World Trade Organization on behalf of Grenada, a rustic within the Caribbean. In his view, cryptocurrency tasks immediately are “way more efficient than the financial infrastructure that we have today” and now he plans to pave the way in which for mass adoption.
According to Fabian Friedrich, the founding father of Blockchance Group, one of many causes for the Blockchance EU convention to exist is the necessity to carry collectively totally different market gamers particularly the decision-makers who at the moment govern conventional methods “to take the fear away and show them how positive this movement is, how many chances are in the movement for a better future”.
Some have already achieved tangible progress in establishing the dialogue. Fabian Vogelsteller, co-founder of ERC20 Protocol, shared that negotiations with regulators regardless of the “back and forth” nature of the method, have already introduced constructive outcomes as a result of “everybody sees the benefits of this technology” whereas after all the “old has always had the interest to survive”.
Will Governments Have a Saying?
According to His Excellency Justin Sun, decentralized currencies are extra superior not solely on the technological facet but in addition on the philosophical facet as they drive the inclusion of smaller nations. That is why it will likely be solely pure for nations to “start to diversify the countries’ reserves” additionally by constructing the central financial institution digital currencies however “the philosophy behind CBDC’s will determine their results”: they may both be a part of a aggressive system or “undermine the reputation and the influence in the market in the first place” if they are made to be an interesting asset to use subsequent to cryptocurrencies, for instance by merely functioning as a monetary monitoring device.
Justin Sun believes that when the boundaries of the normal monetary system go down, everybody advantages. But in accordance to Brock Pierce, the 2020 US Presidential candidate from the Bitcoin Foundation, there might be beneficiaries and losers. In his view, Dubai, for instance, would be the beneficiary of change as a result of it “is doing a good job recognizing the change and adapting to it” however those that resist the change will undergo:
“Look at Florida and Miami, they are doing a good job… They are the beneficiary of the change. That is what happens when you embrace the future. You get to be part of it. Resist it and it runs you over. The future is coming”
Prominent enterprise capitalist Tim Draper whose Dad fought within the Korean War has shared a imaginative and prescient of what resistance to change may appear like by giving a historic instance of North and South Korea as a full authorities management system versus a “free and open society with democracy” 70 years later:
“Average South Korean now makes 430 times what the average North Korean makes in a year, and that is when you adjust for purchasing power. And the average South Korean is 4 inches taller than an average North Korean. It is pretty clear to me which system works better”
Dubai: Safe Harbor for Innovations
One of the most important gatherings within the blockchain neighborhood held by Eman Pulis & SIGMA Group AIBC Summit UAE 2021 has been held in Dubai a number of months prior to Blockchance EU.
Dubai is among the many first cities that are “taking a tangible stand into abundance and allowing decentralization to flourish” because it is said by Miguel Francis-Santiago, the Founder of The Future is Now DAO and the mastermind behind #TheFutureisNowFilm, with initiatives just like the UAE Crypto Map. Dubai is “on its way to becoming self-sustainable” by leveraging the ability of innovative-based ecosystems. Under the management of His Highness Sheikh Mohammed bin Rashid Al Maktoum, with a plethora of initiatives headed by Dubai Blockchain Center and the work of its CEO Dr. Marwan Alzarouni, making a secure harbor of innovation.
And the secure harbor has already introduced some contemporary fruits. Matthias Mende has launched an modern celeb market Bonuz Market simply after a few years of residency in Dubai and now the undertaking permits celebrities around the globe to interact with followers inside an NFT and Metaverse platform.
Sergej Kunz with 1inch Network bridges the crypto world with conventional banking by working with such regulated establishments like Sygnum Bank. The 1inch Network answer grew to become the deepest liquidity aggregator within the DeFi house: the platform reached over $120 billion in transaction quantity since its inception by fixing the issue of excessive entry level and barrier to use cryptocurrencies.
Salim Ismail of OpenExO, former CEO of Singularity University, by creating pilots with such conventional companies like Procter & Gamble, Gucci and KPMG, created an area the place new transformational strategies of working an organization between exponential group construction and conventional companies can now pave the way in which for preserving synapses of the human mind.
The US Presidency: to the “Belly of the Beast”
According to Ilya Churakov of the decentralized ecosystem Global Digital Club, such bridges want to be constructed within the “right way” so massive alternatives may scale quick and attain mass adoption.
But to study the “right way” we’d like to research the outdated one, believes Brock Pierce, the 2020 US Presidential candidate from the Bitcoin Foundation. He devoted his utmost power to working the US presidential marketing campaign in the course of the 2020 Year of COVID, so as to perceive the mechanics of the political system higher and prepare for the following stage in making actionable change:
“Why would I subject myself to such a thing [as a Presidential Campaign] if I was not committed to following all the way through… Let’s say it was an exploratory mission. To understand the mechanics of the system, you need to go inside the belly of the beast, to learn how to run a national campaign without any of the existing infrastructure… without any of the funding mechanisms that allow politicians to run for office, without a political platform… and to do it in the midst of COVID. My basic training is complete”
According to Crystal Rose Pierce of Sense.Chat, solely by “creating the bridge” between conventional methods and the decentralized world can we discover how the pursuits of various folks could be put collectively for mutually helpful progress. For the Pierce couple, there is no aim to merely substitute the outdated with the brand new, there has to be a dialogue.
El Salvador: Dreamland for All Nations
El Salvador has been creating this bridge maybe like nobody else within the present political system, whereas changing into the primary nation to make this courageous step in the direction of financial freedom. As a rustic, they search to voice their opinion, and make their opinion seen regardless of the pandemic disaster that was taking place on the planet on the time and a really clear suggestion from the International Monetary Fund in November of 2021 – not to undertake Bitcoin as a authorized tender. Nevertheless, they are going ahead with the Bitcoin infrastructure within the nation as they are searching for financial freedom, the dream of all nations.
William Soriano, a congressman from El Salvador and a outstanding Bitcoin advocate, defined how Bitcoin can assist different nations by sharing how his homeland plans to “achieve the next level of prosperity”. The first profit is reducing the pointless prices:
“Civil war led to 3 million people leaving the country to the US. Those people send 7000 million dollars yearly of remittances. That makes them pay 400 million dollars in fees to companies such as… Moneygram… Ria etc. And this is just El Salvador, a small country…”
The second step is monetary inclusion. In simply 3 months, monetary inclusion reached 80% in El Salvador, rising from 1.2 million to 3.8 million folks having entry to a monetary system. Finally, the nation arrange a plan to use pure sources like volcanoes and geothermal power with using “volcano bonds”, a decentralized monetary UBI-type instrument.
According to an SDG advocate on the United Nations and the World Economic Forum, Marc Buckley, all nations ought to observe the instance to “stop recreating” a cycle of madness that leads to monetary bubbles following a downturn, on fixed repeat – a mannequin Marc believes the world has been viciously revolving round. His Excellency Justin Sun is assured that nations within the Caribbean area will definitely observe the El Salvador instance. But we will hardly count on all governments to act and observe this instance, so what are the alternate options?
Dying Animal vs. Autonomous Private Cities
Dr Wolfgang Pinegger, founding father of GLBRAIN and CEO of GAMB, believes that “centralization is everywhere”: from social media to banking and governments, the one mild on the finish of the tunnel being cryptocurrencies which is likely to be “the only way to escape the centralization step by step” with a correct use-case.
That is why GAMB Power To The Merchants has developed an answer that solves a significant concern within the crypto house – excessive transaction charges for day-to-day operations. The firm has introduced a coin with zero transaction charges that can work additionally in nations the place 1$ is a considerable sum for a crypto transaction. This will consequently carry cryptocurrencies nearer to mass adoption, and subsequently cut back the centralization. In Wolfgang’s view the change would possibly occur fairly naturally with a mindshift that is already taking place within the youthful era:
“But the young generation has already realized that they do not want to be part of this game… (ed. centralization) and the young generation in itself will just change it. Many people from the centralized world will not even realize until it has happened”
Veronika Kuett, who works on autonomous methods with Tripolis Corp., thinks that centralized cash is “the most powerful tool” that the federal government wouldn’t want to lose, because it permits them to “inflate” and “debase the money of everyone else”. Governments would possibly react with tightening centralization and they would possibly even succeed within the quick time period. Of course, printing cash helps governments pull sources collectively which suggests attracting folks “to set up control structures”. But in the long run, “this animal has cancer and therefore it will die”. That is why there is no want to waste power on reforming central banking when “we need to rethink governance” to arrange new methods as a substitute:
“The strategy is to spend the least amount of energy focusing on old systems but rather build the future, educate people and make them join the new system”
One of the options in accordance to Veronika is “to have many thousands of smaller entities where we have bonded communities, where we know each other, we trust each other” to “get rid of this anonymity that we have as residents in a very large nation”. The demand for autonomous non-public cities is already there with many modern libertarian thinkers dealing with the restrictions of “government’s ever-changing rules”.
Irina Litchfield of the Global Autonomous Network additionally shares an opinion that we’d like to “create new models of living through autonomous lands, agrotech and regenerative farming, blockchain, new space and beyond”. If Mars colonization would make us rethink governance, why ought to we not begin now?
What does the longer term maintain? What form of future can assist humanity attain sustainable objectives and the way? Follow new episodes of #TheFutureisNowFilm and don’t miss the longer term by means of the ideas and accomplishments of essentially the most modern minds within the trade. TFIN DAO workforce and the present’s creator Miguel Francis-Santiago are already engaged on new episodes filmed in Dubai surrounding the WoW Summit and a 2nd version of AIBC Summit Dubai 2022 with the assist of the NFT-vehicle that can enable for this roving crypto documentary to be featured on such platforms as Netflix, Amazon Prime, and Hulu.
To see the retrospective of the blockchain world’s progress, watch the film series 5 year trailer that sums up the final 5 years with over 20 gatherings around the globe that Miguel Francis-Santiago and the workforce have attended, over 19 episodes have been filmed to date and over 15 nations explored by means of the lens of The Future is Now Film.