We saw ourselves move from counting stones to using abacus, from using abacus to analog computers, from analog computers to digital age, what's next? Nothing much though if you're looking to have something different from a digital computer. The early stages of man was quite limited to so many things, and despite the improvement made already, the advancement in knowledge and introduction of tech nerds into the system, we can still say the world ain't perfect in so many ways. There are lists of companies and industries that are likely to lose a ton of money in the near future. The likes of airports may lose value if Teleportation is actually processed to be quite functional and safe. There may come a time where solid food may be reduced in large numbers and all what would be taken is liquid food, that would be the biggest bum. As technology advances, humans' way of life changes, the relevant may turn to be undervalued, there's a new limitation and most times a greater stupidity, literally. But here is what we should expect in the nearest future of Finance
Next Generation Of Technology In Finance - Pulp and Paper Industries May Lose a lot of Money
Introduction to digital currency is the biggest threat to Pulp and Paper Industries. Cryptocurrency being a digital asset, limited to a virtual property is what may bring losses to these industries. Pulp and Paper is much popular for producing papers. Papers being the prime factor here is chanced to be their biggest loss. Technology from here may not require notes or papers as in physical documents. In no time the world would have to accept cryptocurrency as a daily currency in use. The act of making payments in cryptocurrency in our daily lives would rander paper cash useless, literally. It is quite possible that when the world begins to accept crypto in all fields, everyone will want payments made in this digital currency and Paper cash would be abandoned in no time soon. Pulp and Paper Industries will face a lot of challenges and loss when this finally takes place(possibly not but still) , everything may become digital, Pulp and Paper Industries may lose millions if not billions. Looking at the world right now, a lot of things function with written notes, files, and documents. All products of wood processed into papers, same with cash here. But all this would much likely reduce in demand when digital currency finally plays out and becomes generally accepted. It will prove that things can be drafted on a more digital note and be safe rather than the usage of physical documents. Every document may become limited to virtual properties, that means it will be stored as a software design rather than have a hard copy. Paper money may no longer be a means of trade, digital currency may take its place as a form of exchange in diverse fields, that includes intercontinental or foreign trade.
Will This Function and Disaster Be Limited To Pulp industries?
This Function is obviously not going to affect only the industries but also the country therein. The International Paper Company generated a revenue of about 22.4 billion U.S. dollars in 2019. With paper rather useless this figure is a huge amount of money to lose. Although money is not entirely made out of paper, speaking of the US dollars that is composed of 75 percent cotton and 25 percent linen, which gives it a more decent feel. Nevertheless, paper is rather the primary source, thereby if there's any chance to close down these companies in the nearest future, millions will be burned.
-What would be the advantages of these Implementations?
Transparency
Governmental documents have always been limited to certain eyes, this has been a bridge to transparency of law in the system. But if all documents becomes digitally stored as in blockchain design, creating a decentralized form of government where everyone has a view on every governmental activity, this will eradicate so many crimes in the body of governments but I doubt this occurrence.
Easiness
In terms of trade, easiness plays a major function. Everyone wants a form of trade where everything is done in one click. Trade would be much easier with digital currency compared to paper cash. Going to stores to get groceries can be frustrating at times, but with the implementation of this function, trade would be entirely done while at the comfort of your house unless you compromise.
Employment
This will definitely take part as a merit to this loss of Pulp and Paper Industries. Although these companies will drop a massive number of people from their jobs, other companies will employ back a bigger number of that drop, why? Let's look at the likes of supermarkets. People will have to eat something, so if I am to order food while at home, and every other member of my family wants a share of that food, I will have to order more of the usual number. This will require more delivery men, the more the demand rate increases, the more these supermarkets will need employees. And why this system will be more profitable to the growing population of unemployed youths is that, anyone can carry out a delivery, you don't need to have a diploma in science to be eligible for the job. This will create more employment than any other project has ever created.
Security And Control Of Funds
Security is a major factor in finance. Having total assurance that your funds and assets are safe can only be possible on a transparent system as digital forums. Having funds in the form of digital Currencies will give us total control and therein responsibility over it's safety. Who is more better at securing a child if not the mother? No one. Same thing goes for digital assets. An owner is the best safe keeper, so digital currency is banging hard on giving us total control of our funds.
Are There Other Disadvantages?
The only pulling disadvantage of this possible occurrence is centered on Pulp and Paper Industries. The exact money that will be lost may notbe calculated but it's gonna be huge.
Nevertheless, every blessing is a curse
