“During the 2020s, key technologies will converge to completely disrupt the five foundational sectors that underpin the global economy, and with them every major industry in the world today. The knock-on effects for society will be as profound as the extraordinary possibilities that emerge.
In information, energy, food, transportation, and materials, costs will fall by 10x or more, while production processes an order of magnitude (10x) more efficient will use 90% fewer natural resources with 10x-100x less waste. The prevailing production system will shift away from a model of centralized extraction and the breakdown of scarce resources that requires vast physical scale and reach, to a model of localized creation from limitless, ubiquitous building blocks – a world built not on coal, oil, steel, livestock, and concrete but on photons, electrons, DNA, molecules and (q)bits. Product design and development will be performed collaboratively over information networks while physical production and distribution will be fulfilled locally. As a result, geographic advantage will be eliminated as every city or region becomes self-sufficient. This new creation-based production system, which will be built on technologies we are already using today, will be far more equitable, robust, and resilient than any we have ever seen. We have the opportunity to move from a world of extraction to one of creation, a world of scarcity to one of plenitude, a world of inequity and predatory competition to one of shared prosperity and collaboration.
This is not, then, another Industrial Revolution, but a far more fundamental shift. This is the beginning of the third age of humankind – the Age of Freedom.James Arbib & Tony Seba, “Rethinking Humanity.” RethinkX. June 2020.
In the cryptocurrency space, the adjective, “hopium” would be used. While a post-scarcity world run by teams of super-intelligence A.I.s, like the one depicted in Iain M. Banks’ The Culture series would be a welcome development, if history is any guide, human beings tend to like inequity and predatory competition.