Stunning innovations, which include Internet of Things (IoT), genetic engineering, 3D printing, artificial intelligence (AI), driverless vehicles, robotics and smart machines, bring the Fourth Industrial Revolution, or Industry 4.0.
The steam engine propelled the First Industrial Revolution. Then electricity, along with the assembly line and other mass production techniques, brought the second. Next, computer technology and microelectronics drove the Third Industrial Revolution. The Bitcoin/Blockchain is the heart of the Fourth Industrial Revolution.
UP UNTIL NOW, a centralized company has been the best way to create a network that solves a large need: Uber connected riders with drivers, banks connected savers with borrowers, and Twitter connected content writers with content consumers. But thanks to the invention of the bitcoin/blockchain, we will no longer need central companies to act as the middleman. The business models of the future will be software protocols developed, governed and owned by the communities they support.
The decentralized blockchain model circumvents this problem by incentivizing early adopters, who are rewarded if the network grows, not just the central company that owns it. Imagine if the first Uber drivers and riders had gotten a stake in the network. This model will be applied to other services, such as a Dropbox disrupter where you can pay to store your files or get paid to contribute your hard-disk space, or decentralized global marketplaces where payments are escrowed in a multisignature bitcoin/blockchain address. We’ll get Twitter without the Twitter, Amazon without the Amazon, Uber without the Uber: Software on a decentralized blockchain will coordinate riders and drivers without the need for a central company.