Technology Vs Developments
The central power automation by blockchain technology or Web-3 is amazing when it comes into existence. Nevertheless, it is going to play a vital role between the employer and employee, the center and periphery etc.
The industrial revolution-I allowed us, for the first time, to start replacing human labor with machines. Subsequently, the following industrial revolutions- II replaced the human brain with computers, the most. Particularly, such industrial revolutions helped to leverage the employees and the managers but not the employers and administrators.
Specifically, scientific innovations could not help to relieve or leverage the task of the power centers. At last, the blockchain brings a remedy in the name of Core Power Automation, which in turn supports the employers and the employees one at the same time without any exploitation.
“Whereas most technologies tend to automate workers on the periphery doing menial tasks, blockchains automate away from the center. Instead of putting the taxi driver out of a job, blockchain puts Uber out of a job. And let the taxi drivers work with the customer directly.”— Vitalik Buterin, Co-founder of Ethereum
The above statement of Mr Vitalik Buterin, the Co-founder of Ethereum reveals few facts, which are very vital for the future developments of mankind.
Facts of the statement
Fact No. 1
The Blockchain technology automates the core central authority of each and every sector.
Whether it is a business or an organization or even bureaucracy, the blockchain automates the execution power of the head of the institution. Obviously, the central authority has no role to function once the institute begins its operation. Besides, the pre-written condition algorithms take over the control and accomplish the execution with zero error.
Conclusion : The founder of the institution gets retirement, at last; but not his income.
Fact No. 2
The technology prohibits the third party and permits P2P only
Long long ago, a third party or a middle-man was appointed between 1st and 2nd party so as to conduct a transaction or a contract morally. In fact, such an intervention was very innovative and useful for a fair transaction. Later on, the third party atrocity is enhanced by various aristocratic and bureaucratic factors and begins to exploit the real and only players of the transaction, the 1st and 2nd parties. To this end, it took centuries to rectify and ratify, but accomplished by blockchain.
Conclusion : The 1st party, the producer gets 100 % price for his goods and the 2nd party, the consumer enjoys 100 % value.
Since cryptocurrency does the role of value transaction between P & P and the blockchain automates the core center’s roles and responsibilities, the employer gets a relief and the participants enjoy maximum benefits and utility.
The blockchain technology and its integral part, cryptocurrency unitedly do this magic. Until yesterday, the technologies just assisted the central body and the peripheries, but as of today both parties are being automated by blockchain. In the same way, a third party, for example a bank, assists a client or an institution for their transactions, but now the cryptocurrency does the ‘value transaction’ within the participants , avoiding the third parties.
The ‘central power automation’ is the final solution for everybody, say employer and employee, seller and buyer, teacher and student, doctor and patient and even the government and the public. On the other hand it is technically user friendly and economical; and also its going to rule the industries for decades, for sure.
Author : Deyennae
Founder : Bizaka
Co-founder : Webbazar, Zaka Coins, DawnFish