Photo by Padli Pradana

Digitalization is a growing trend. I read in The Philippine Star just this morning about the government's plan to boost digital finance. It is willing to invest $1.7 billion in digital connectivity projects to stimulate economic growth. However, after closer scrutiny, this press release is nothing but another Statist program similar to the one the Kingdom of Saudi Arabia announced that aimed to digitalize government services.

Moreover, the Philippine government is calling on the private sector to continually innovate and collaborate with the government's initiative. The Philippine government, like the trend in almost all governments in many parts of the world, is now busy creating laws to make their presence visible in the digital space. In the case of the Philippines, the government is now pushing for the passage of the E-Governance bill to mandate ICT adoption in government agencies.

The kind of digitalization that is happening now in decentralized blockchain communities like Hive is far different from the vision of civil governments. I think that we will be better off without them interfering in the space. I see politicians and bureaucrats are more busybodies and envious of the fast innovation that is taking place in the digital world and in reality all their actions are aimed at only one thing. Of course, they use facades like "public service," "economic inclusion," "poverty alleviation," and "investor protection".

In this concluding article, I will be repeating some of the themes that have been mentioned in the previous two articles with specific applications to the Hive blockchain.

We already identified that value today is undergoing a significant transformation due to the influence of innovation that is taking place in fintech and blockchain technology. It never entered my mind that a time would come when I would consider owning digital assets like cryptocurrency and NFTs as a way to achieve financial freedom. Entering a new decade by 2030, this article aims to inspire Hivians about the bright future of digital assets, especially the Hive blockchain.

Mainstream Integration

This has been the aspiration of many here on Hive. We want to see the integration between traditional finance and cryptocurrency. A few have a reservation about pushing through the realization of this dream for they see more of a danger and threat once this project has been realized at the expense of the relative freedom that we are enjoying at present.

Imagine a day when cryptocurrencies, once on the peripheries, are now at the heart of mainstream financial transactions. Imagine a world where you can pay for groceries, buy a cup of coffee, and pay your children's tuition fees, all using digital currencies seamlessly integrated into everyday transactions. Once that day arrives, we could say, that's what true digitalization of the economy means where everyone has equal access to whatever digital assets that will exist.

In such a future, I believe that Hive will play a significant role. The Hive blockchain, primarily utilized just for content creation, curation, and staking tokens would now be part of normal daily financial activity. With its robust and versatile architecture, I anticipate that it will excel in comparison to other "decentralized" entities out there.

Hive blockchain will alter how conventional financial systems function when it becomes more widely used in financial transactions. We firmly believe that its decentralized consensus protocol and smart contract capabilities will make cross-border transactions faster and more secure, removing the need for middlemen and drastically cutting down transaction costs.

Furthermore, Hive is an ideal alternative for both organizations and individuals due to its capacity to manage high volumes of transactions with low fees. We are not tired of repeating that Hive's assimilation into traditional finance will introduce a new era of financial inclusion and accessibility for individuals all over the world while at the same time, opening opportunities to cutting-edge financial products and services.

Educational Enlightenment

In the previous post, I mentioned that education will play a significant role to mainstream adoption. Despite the distaste of many in the cryptocurrency space of traditional education, I still believe that if we aim for mainstream adoption of digital assets, we cannot downplay the role of schools, colleges, and universities. I am not sure if we can handle the task of educating the majority. Despite the growth of the space, many are still unfamiliar with the intricacies of cryptocurrencies, blockchain technology, and how they work. Comprehensive educational reform can demystify these concepts, empowering people to make informed decisions about using digital assets.

Educational programs like workshops and conferences, as well as available online resources, can help bridge the knowledge gap, explaining complex topics in simple terms and highlighting the practical applications of digital assets in everyday life.

Furthermore, education fosters trust and confidence among potential users. Cryptocurrencies often face skepticism and fear due to their decentralized and digital nature. By providing clear, accurate, and unbiased information about how digital assets work, their security features, and the potential impact they can have on the global economy, educational efforts can dispel misconceptions and build trust. When people understand what digital assets are and how to use them safely, they are more likely to embrace them. In essence, educational enlightenment serves as the foundation upon which a cryptocurrency-literate society can be built, paving the way for widespread acceptance and integration of digital assets into mainstream financial systems.

With all the foregoing considerations about the role of education, Hive Blockchain, with its educational initiatives and community-driven ethos, will serve as a beacon of enlightenment, nurturing the leaders of the digital future.

Tokenization Revolution

Tokenization is revolutionizing the way we think about assets and finance. As has been argued in my previous post, the tokenization of physical assets is the long-awaited answer to the question regarding the limitation of asset class availability. Such conversion of both physical and other illiquid assets to digital ones and the act of breaking them down into small units is indeed a great financial breakthrough that many would find difficult to understand.

And so with tokenization, traditional assets will experience a redefinition of the value of real estate, art, patents, etc. That to me is made possible because of the power of blockchain technology; digital assets are transforming into tokens, divisible and tradable with exceptional ease. This is the real meaning of financial democracy; previous outsiders can now have access to opportunities that were previously reserved for the privileged few.

In such a revolution, Hive will play a powerful role because of its robust infrastructure and decentralized character, as well as through its stablecoin, $HBD, and layer two front-ends.

As TM keeps saying, one of the major problems in today's financial system is the lack of liquidity or access to capital. Based on his argument, $HBD has the capability to enhance liquidity by functioning as a pristine collateral.

Moreover, DApps can also expand this tokenization revolution. These DApps can facilitate peer-to-peer transactions, and crowdfunding campaigns, and even establish entirely new financial ecosystems. By fostering an environment where developers can easily build and deploy token-based applications, Hive accelerates the growth of a global token economy. This democratization of finance allows individuals and businesses to tokenize their assets, raising capital efficiently and enabling investors of all sizes to participate in projects they believe in. As the Hive blockchain continues to evolve, its contribution to the tokenization revolution will be instrumental in reshaping the way we perceive and interact with value, assets, and investments in the coming decade.

Empowering the Unbanked

Having a bank account does not mean you are already out of the unbanked category. If you do not have access to credit just like me, you belong to the unbanked though you have a bank account.

Being unbanked, and struggling financially is part of your normal existence. With such a status, you can hardly contribute to the growth of the economy except for your contribution as a consumer. The good news is that with the advent of blockchain technology and diverse kinds of digital assets, this gap is now being bridged. Blockchain platforms like Hive opening numerous financial opportunities via tokenization is now a tool to empower the unbanked.

And so for people like me and in regions where traditional banking services remain elusive, Hive through its decentralized networks is now empowering the unbanked population and fostering economic growth in previously underserved communities.

Additionally, the Hive blockchain's capacity to tokenize assets gives unbanked people the chance to take part in investment and crowdfunding campaigns, enabling them to raise money for their own or other people's business projects. The unbanked can use Hive to escape the cycle of poverty, obtain access to chances for employment, and thereby enhance their quality of life. This is actually what I intend to achieve by asking my relatives for "tiny investments" to contribute to the capital I have in mind dreaming that after seven years, God willing, I can share with them a story of how I escaped such a cycle of poverty.

Photo by Marián Šicko

Conclusion

I would like to end this article by rephrasing what I said in my conclusion in my previous post.

The vision of digital assets by 2030 and the projected value of Hive is not a mere dream; its reality is unfolding as I write this article. In the coming years, as we dive deeper into the digital economy, those who remain clueless about what's going on will be forced to catch up due to necessity. Value is undergoing a huge transformation with the aid of cutting-edge technology. If the futurologists are correct, we will see sooner or later the gradual erosion of the distinction between tangible and intangible assets. In moving forward to such a future, Hive stands as a testament to the power of community, technology, and the ongoing quest for constant change. Let us do our part to contribute to the growth of Hive as a digital nation - the future land of the free and the home of the brave!

Grace and peace!

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