29 octubre, 2020

THE RISE OF THE AUTONOMOUS ECONOMY

The First Industrial Revolution (approximately 1750-1850) introduced the concept of modern industrial economies thanks to advances in steam engines and the discovery of a cheap and abundant mineral such as coal. The change from an agrarian society to an industrial society, in addition to the principle of capitalism and the trade union movement, brought the empowerment of cities as future economic powers.

The Second Industrial Revolution (approximately 1870-1914) improved the new technologies introduced in the First, standardizing industrial processes and introduced new sources of energy such as electricity and oil. In this way the first stages of globalization begin, due to the creation of complex railway, maritime and land infrastructures.

The Third Industrial Revolution (1950-present), the so-called Digital Revolution, thanks to digital computing and information technologies, creates an information architecture shared instantly throughout the world on any type of device.

The Fourth Industrial Revolution (today) uses the electronic innovations of the Third for the construction of intelligent applications whose main source of energy is the data they produce. This automation (observe, orient, decide and act) is the germ of a new parallel economy run automatically by machines, based on previous revolutions in technological advances such as Internet of Things (IoT), Artificial Intelligence (AI) and Distributed Ledger Technology (DLT: Blockchain, Smart contracts, Oracles). The IOT collects the data, the AI processes it and the Smart contracts are the software infrastructure that uses the data to trigger real actions. Since smart contracts reside in Blockchains, they also get all the security advantages that they entail. Oracles are the layer of connectivity that they unit everything so that all systems can communicate.

An interconnected global economy, the development of intelligent robotics, biotechnology and open source give us an idea of the transition to the Fourth Industrial Revolution. The autonomous economy will increasingly displace humans, but there will not be a problem of resources, but a political problem in its distribution.

Source: The Fourth Industrial Revolution:The Rise Of The Autonomous Economy

koldoorrantia

Amplia experiencia profesional adquirida en la multinacional de IT Atos, realizando Dirección de Proyectos y Desarrollo de Negocio. He colaborado como analista en el Fondo de Inversión especializado en marketplaces y clasificados MERCURIUS Early Investment. En la actualidad soy Director en la consultoría estratégica DIPCOM Corporate, SL y cofundador de EKAI CAPITAL PARTERNS, SL.

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