Blockchain has been accepted as the trust network for the emerging business models of digital economy. This is redefining various economic dimensions and metrics of digital economy significantly. Blockchain has inspired us to reimagine the possibilities of a growth for our global economy powered by the confluence of social capital and finance capital. This is going to accelerate the trust traffic in the global trade networks.
AI is redefining the equations of labor and workforce around industrial and information machinery like never before. Blockchain is transforming finance capital into a decentralised social capital around network societies. IoT is transforming internet into a true read + write + execute web. What will happen when these three exponential technologies come together ?
AI is going to be the future brain for the industrial capital. Blockchain has become the largest social capital that humankind has ever invented. IoT has become the communication backbone of the network society.There are a lot of efforts blending AI and Blockchain across the globe. We can summarise this Digital Convergence as following conceptual categories
- Digitisation of Labor – Artificial Intelligence
- Digitisation of Capital – Blockchain
- Digitisation of Economy – Internet of Things
What are the implications of this Digital Convergence? Is it a good spectre for the humanity. I would say, yes. Blockchain will help us to streamline and organise the powerful potentials of AI through the lens of a societal financial calculus. IoT will help us to transform Blockchain into a digitally conscious and energy driven network. Hence the convergence of AI+Blockchain+IoT will help us to create a progressive and powerful convergence between digital labor and digital capital. Robotics will indeed be a part of this convergence once AI becomes more fluid and transparent to humans and machines.