DeFi, GameFi, and many other Fi’s are available, and MachineFi is the elephant-linchpin in the room. What if your profit center and economic driver could be machines?
I see a paradigm shift in the crypto and blockchain space. But take a minute to watch the goals of DeFi come about. Watch how the crypto-enabled apps try to disrupt traditional financial services with software. DeFi emphasizes decentralization and the possibility of a trillion-dollar machine-based economy based around smart and connected IoT devices.
The Future of Smart Devices, IoT and Blockchain
Although the internet has revolutionized our lives, most people wouldn’t believe what you said about how much human interaction will take place online over the next 20 years. Imagine a blockchain future. Someone said that it is “a puzzle wrapped in mystery within an enigma.” This decentralized digital and physical universe has just begun to connect the pieces.
What are the financial baby steps coming about on the internet?
Several of these baby steps are clearly evident. One, a blockchain application that runs as well and efficiently as a non-blockchain application is no problem. We’re already there. The next step is to create an interconnected network of smart devices that will act as the building blocks of this future. Interconnectivity is the challenge that the most innovative projects have attempted to address and is likely to be an issue well into the future.
MachineFi is here to help.
MachineFi refers to the interplay of smart devices with finance, similar to DeFi, an abbreviation for decentralized finance. Smart devices are everywhere. Ten years ago, it would have been a joke to imagine that your refrigerator could talk to your home security cameras. But, as it turns out that we are already there! Who is laughing now?
Many people find this level of connectedness worrying since the idea that robots will take over the world is so prevalent in our society. However, it doesn’t have to mean that you disconnect from your smart devices. Instead, it is possible to increase security and trust between people and their devices. Blockchain is the solution.
Smart devices that connect to the internet can be found everywhere. But, have you ever driven through an electronic toll booth? The challenge now is to live with smart devices without compromising our privacy or giving up the economic advantages of these data.
Smartphones help MachineFi
I’d be surprised if smartphones don’t take over the most critical area of life: money. Any smart device that makes people more money will succeed. MachineFi is an intelligent device that can make people more money.
MachineFi is the umbrella term for an ecosystem of intelligent devices that are beginning to gain substantial market share in finance. The market share will come because the technological capabilities of these decentralized ecosystems of devices were never in doubt — and they’re building in power.
MachineFi is a revolutionary alternative to centralized finance.
Blockchain has been around for more than a decade, and we now see more widely applicable uses. MachineFi is a bridge between today’s decentralized world and a world where machines are integral to people’s economic lives.
MachineFi’s foundations are blockchain decentralization and financial technology. They will be more than the sum of their parts. They are giving economic sovereignty to individuals and devices.
What MachineFi means for Business
Instead, the business world should consider this sharp turn towards MachineFi, a smoother turn toward better winds. The tech world’s most beloved products, such as the Apple Watch, Google Glass, and AR/VR devices like the Oculus VR or PlayStation VR, have been almost exclusively dominated by megacorporations.
MachineFi is a different company that is continually in growth.
Companies making waves in the market today don’t have to accept the status quo, but they can be incentivized and encouraged to challenge it. There are enormous benefits for entrepreneurs, angel investors, and developers. These people can also make a difference in people’s lives by using technology.
Take the Industry IoT Consortium’s VAT. It’s not often that you can work in a fast-moving, profitable industry and create something that ensures that a donor’s heart gets to the recipient safely. This is a rare opportunity, which is why it’s no surprise that this sector has seen rapid job growth.
If we look back at the initiation of the internet, we see that many dreamers envisioned a future world very similar to ours. The internet pioneers were the ones who brought the internet to every significant adoption milestone.
We all have this potential with decentralized technology and connected devices, financial opportunities, and algorithms. MachineFi can fulfill that promise.
The Bottom Line
Medical technology has made tremendous strides during the past few years. When faced with the pandemic, medical technicians rose to the challenge of producing scientific marvels. They have also worked closely with cyber experts to create virtually a new branch of healing.
Telemedicine is a new branch of medicine that now blesses the lives of untold numbers of patients in rural and isolated areas.
Image Credit: George Milton; Pexels; Thank you!