Future: Digitalization
“I tell my clients whether you like it or not, the world is moving into digitization.” – said Anthony Scaramucci, the founder of SkyBridge Capital during a CNBC interview.
I’m not really a fan of Anthony Scaramucci or that of CNBC but I got to admit that what he’d said in his recent interview with CNBC resonated with me.
The world is indeed moving into the age of digitalization.
Scaramucci’s views on digitalization and digital assets almost mirror that of mine, and probably that of a lot of people.
In my opinion, the age of digitalization started when the internet entered mass adoption but the future only became much clearer after the introduction of the technology that gave birth to the first to bitcoin: The blockchain.
In its early days, the use of the blockchain technology was limited to the crypto-market. But as time went on, its uses expanded and can now be felt in other fields. This presence was especially felt after Covid-19 devastated the world.
For example: We can see the uses of the blockchain and the internet in the field of education, finance, governance, medicine, etc. This is especially true after people get stuck at home due to the quarantine.
Thanks to the internet, education never truly stopped. What we do in school can now be done at home with the help of the internet.
Need to play the latest games, watch the latest movies, and listen to the latest music? The internet could help with that.
Need to trade stocks and cryptos? The internet has you covered.
Need to apply for certain documents, IDs and the likes? No problem. Just visit government websites and apply for them online.
Without a doubt, the internet plays the biggest role in the digitalization process but another technology is also doing its part. I’m of course referring to the blockchain.
Due to the intense popularity of cryptocurrencies like BTC, ETH, BCH, etc., people’s interest in the technology that created them is growing rapidly as well.
And although not as obvious in other fields as it was in the field of finance, the blockchain technology still manages to slowly worm its way to fields not limited to the crypto-market with the help of the internet.
Also, the fields that I’ve mentioned previously are just examples of the fields that the blockchain technology had found uses with. I’m almost certain that as more time passes and as the blockchain found mainstream acceptance, more fields would be open for the technology.
Knowing all of this, can you still deny that the world is entering digitalization?
Investment: Digital Assets
When Anthony Scaramucci said that the world was moving into digitalization, he was most likely referring to cryptocurrencies and digital assets in investment portfolios.
Of course cryptocurrencies and other digital assets would not exist without the blockchain technology and the internet. So what I’ve discussed earlier was obviously related.
Right now most of the focus of digitalization is mostly cryptocurrencies, smart contracts, bonds and other digital assets life NFT.
But I’m certain that it would move to other field as well, for example: Real estates.
Actually I won’t be surprised if some proponent of the blockchain has been doing it for a while now, and we’re simply unaware.
I mean, the technology is already there waiting to be used to its full potential.
Imagine being able to buy and sell real estates with just a tap of a finger. How cool is that?
If it can be done in the field of arts, and music, then there’s no reason it won’t work in the other fields as well, right?
NFT has shown us how rights to real life assets can be digitized and sold to interested buyers.
Smart contracts that use the blockchain technology can automate any bonds and ledgers while making it cryptographically-secure yet open and transparent at the same time.
So really, there’s no stopping anyone from creating any digital assets fit for institutional use.
And with the open-sourced blockchain technology executing all transactions, all trades should be secured, fast, and easy.
In my opinion, digitizing assets shouldn’t be too hard with the development tools available to us now. The only thing that’s needed is the willingness to do so.
What do you guys think? Is the world heading to digitalization, or have we entered it years ago?
Please write your opinions in the comment section.
Thank you for reading. See you all again!
Image Source: Image 1 & Image 2
All images use in this Article is royalty-free images from Pixabay.
