How Will Cardano Change the Global Economy?

I think most of us here assume that Cardano has the potential to radically change and improve our global economic system. I have many thoughts on this, but I’m curious what our community thinks.

Let’s assume that Cardano eventually delivers on every promise and becomes the de facto blockchain standard for planet Earth. What specifically do you think will change?

This, freedom through truthful opportunity, that’s all.


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Looks like a Jackson Pollock painting. I think some people might misinterpret it and think it symbolizes this: Cardano will give us so much freedom that anarchy will replace the rule of law. :slight_smile:

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The problem with this question is that it is asking to predict the unpredectable, just as all the reasoning going on in the trading category. It might be predictable if Cardano will deliverywhat is on the roadmap (but I cannot!). But what will be the effect, and what will be the situation when it is deklivered?

We must not forget that all this also depends on worldwide developments going on in global economics and politics. I am quite sure it depends a lot on the long term destiny of the most important fiat currencies, like $, € and ¥

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Peel back any painting and you find structure, even Pollock has it, still, a good point you made so to reduce fear I present to you Q :
With Cardano you will never run out.

A couple of ideas. Depending of how this will turn out it might add:

  • Transparency to the black box it is now, making it harder for vested interests to influence policies. Making it harder to keep things ‘off the books’ and to corrupt (never impossible, but harder). Mitigating some of the egregious abuses of the system that can currently remain under the radar. The abuse that is currently wrought by the banksters and politicians might come out in the open for all to see, and media might not have a choice to actually start paying attention…
  • Inclusiveness to people who currently don’t have access to banking services, and thus make the economy more participatory. More people might become part of the global economy in a meaningful way (this may bring its own issues e.g. relating to the environment, but if we can combine this with a more sustainable development…).
  • It might make democracy more worthy of its name (it’ll remain flawed for the reasons mentioned in Catastrophic Collapse: How to Visualize It?), but at least the system that collects and analyses results may be individually counted, representative and undoctorable (English is not my first language, so I’m allowed to invent words :grinning:). Heaven forbid we if we change the rules we might even create a direct democracy where laws and policy are directly voted for by individuals
  • We could have small initiatives that are easy to bring out through the internet and collect financial (and possibly other) support for, benefits could be shared easily. New ways of doing things, collaborating, sharing become possible. We might set up local support systems, local currencies that can only be used for purchasing local products and services
  • We might cut out many of the ‘trusted middlemen’ that are now the hostage-takers guarding processes ‘selling’ their prized services for disproportionate rewards
  • We could have systems that are less vulnerable to disruption as they are not centralised anymore
  • Organisations may become cheaper and more simple to run, more innovative and agile as administrative processes become largely automated. Technicians, organisers and coordinators may have more time to do what they want/ need to do without having to jump through administrative hoops. Organisations may do things more effectively, faster, with less mistakes. Smaller enterprises might become profitable as less resources have to be spent on ‘process’
  • Tracking systems (e.g. of certified products) will become more reliable and easy
  • New professions (smart contract programmers, smart contract lawyers) will come up
  • I hope that we’ll be able to keep a decent level of privacy in our transactions and make direct, rapid and cheap transfers without a third party blocking the process and taking its share

It’s getting late so time to switch off, but there are certainly more options out there. What do you think they would be?

As mentioned elsewhere, Cardano will not be the magic bullet, and needs to be combined with systems adapted to the new way of doing and ‘opening up’ things, but I think we could do much worse then this…


@lyrx1 Understood. I’ve seen your other comments in the Catastrophic Collapse thread, too. Thank you. I’m going to address the core essence of your comments below. . . .

Simple Questions Are the Gateway to Deep Insight & Inspiration. Respectfully, it’s important to not incorrectly assume that any of our questions imply ignorance or naivete. Intentionally simple questions often reveal powerful insights about life, political/economic systems, human nature, technical system design, etc. I have a lot of experience in my career dealing with dysfunctional governments, Wall Street (and economics in general), building companies, developing complex technical systems, fighting corporate corruption . . . so I’m painfully aware of the limitations of human nature and technology to govern fallible human nature.

Simple Questions Are Like Glaciers: What You See Is Only a Fraction of What Lives Below. When I present these simple questions to our community, the purpose is to create the mental/emotional freedom for people to explore interesting and important ideas that are directly relevant to Cardano’s future. The best way to do that is to help everybody feel safe by asking simple questions that do not require a PhD for participation in the discussion. All products/services/sociological revolutions are born from ideas. All ideas must be mined just like Bitcoin from a huge mountain of knowledge and life experiences. To get to the precious gems, we must all dig through a lot of mundane and seemingly naive questions. But these questions are like glaciers: What you see on the surface is only a fraction of what lives below.

We Don’t Need to Be Reminded About “Reality.” I understand and appreciate all your comments–I really do, but what’s the purpose? If it’s to “bring these people down to reality because they don’t understand the real world,” well, I can assure you I’ve seen the worst elements that humanity has to offer us; and most of us here are already thinking and living within the deepest realities of human existence. But this community is about visualizing the future in Cardano Land. That requres creative exploration, which is fun and essential to shaping Cardano’s future and the future of humanity.

Let Us Create Our Own Reality Until the Rest of the World Catches Up to Us. Let’s enjoy the exploration, free-association, and inspiration of what Cardano represents for humanity. You never know which simple question and which simple idea will be the gem that takes us all to the next level of human civilization.


A simplified example: Imagine a fully automatic bread factory. Bread
is produced and delivered by machines, robots, drones or
whatever. Humans are no longer involved, except that they eat the
product: bread. The price of the bread is determined by a smart
contract running inside the cardano blockchain. Bread is bought and
sold using ADA. As bread has some intrinsic value that does not
change dramatically over time, the value of ADA could also be
determined by the amount of bread that can be bought with one
ADA. The volatility problem of crypto currencies might vanish by

The whole bread trading infrastructure would be controlled by the
internet of things: Smart contracts communicate with machines that
produce or deliver bread.

The example might be incomplete, but it is meant to illustrate a
possible future. For me, the concept of smart contracts seems to
be a little bit too abstract, too generic. It only makes sense
if you combine it with the IOT. A smart contract that can
trigger actions on things is a good smart contract. – Maybe one should
even narrow the concept of smart contracts to specific domain models
like the one I tried to describe with my example.

Cardano’s success will depend on the number of its clients. I am
sure that this will only happen if a smooth IOT integration is
happening. AI maybe, but I do not know enough about it to predict
how this would look like. As long as it is just about cryptographic
currencies, a generic smart contracts platform and a blockchain
nothing will happen. It will only happen, if THINGS are going to be
integrated in just about the way I tried to describe …

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@ADALove: I am with you! I do share the same hopes about blockchain technology, maybe also the same contempt of today’s finance world. I am just a sceptic by nature and character, not able to produce the same level of energy and determination that seems to be included in your comments on this platform.

There is something about simplicity. Real simplicity is very very difficult to reach. It is maybe a very complicated thing to reach, so the path is never simple. I think it was Einstein who said that a theory should be as simple as possible, but not more. That is what I mean by “simplicity”. For sure, this will be difficult to reach in a project as ambitious as Cardano, with so many social and economic implications.

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Hope and Action.