Speaking exclusively to Bitcoin Market Journal, technology futurist George Gilder expressed his belief in the notion that blockchain technology and cryptocurrencies will introduce significant changes into a wide array of industries.
Gilder is an investor and a well-respected author, having written a number of bestsellers. Notable among his books are ‘Wealth and Poverty’, which is defined as a major inspiration for the economic policies of the Reagan administration. Additionally, Gilder is credited as having made major predictions on technology in his books ‘Microcosm’, ‘Life After Television’, ‘Telecosm’ and ‘The Silicon Eye’. His most recent book is called ‘Life After Google’.
Gilder on AI
Regarding the concerns leveled against the development of blockchain and AI technology by skeptics with regard to job security for humans within the employment market, Gilder stated:
“Technology increases the productivity of workers…… so, use of technology will extend the powers of human beings and make them even more productive.”
Additionally, Gilder explained that these technologies still require a substantial amount of human intervention in order to continue working in an effective manner. Therefore, while a restructuring of operational systems may be likely, human beings will still be able to find gainful employment given they have the right skills.
Gilder on Blockchain
Gilder also expressed the belief that blockchain technology heralds a coming change in the Internet ecosystem.
Research suggests that people have disdain for micropayments due to the consistent need for transactional details. Users must constantly input their names, credit card data, and other personal details. As a result, micropayments are struggling.
Gilder contends that cryptocurrencies will reduce the friction within micropayments, pointing out:
“Transactions on the cryptocosm do not require you to expose all your personal data and go through the rigamarole of password perdaforgary.”
Gilder adds that cryptocurrencies and blockchain technology will change how people and service providers interact. He argues that cryptocurrencies will introduce a system where the true cost of things is provided to users. This is in contrast to the current system where many things are provided free of charge by service providers, such as Google, but in turn, the providers collect and use their customers’ data.
Gilder on Due Diligence
With regard to the cryptocurrency market and how tokens are valued, Gilder recommends conducting in-depth research before investing in any token. He also adds that nothing is a sure thing in the crypto market and investors should keep this in mind.
The projects that stand out to Gilder are Bitcoin, Ethereum, Bitmain, Blockstat, NEO, Cardano, EOS, IOTA, Rai blocks, Jonetex, and Cashgrab.
He believes these projects have the potential for growth and investors should keep an eye on them. He also makes reference to the cryptocurrency project Brave, as a novel model for how Internet service providers should restructure in order to better serve customers.
In conclusion, Gilder told Bitcoin Market Journal that the blockchain and cryptocurrency sector is likely to be responsible for significant changes.
“The cryptocosm is a new internet architecture that is going to transform everything. It is in its embryonic stage today. I can only recommend that you attend to resources like BMJ that can guide you through this quite perilous path.”
Here’s the entire interview for your enjoyment.