21st century digital economy represents a “historical and civilizational revolution” – I24NEWS

We will continue to see the development of the network economy, from Facebook to Bitcoin to Tesla and more.

Companies in the digital economy like Apple, Google, Facebook and Tesla are now worth 10 times more than most countries and 10 times more than companies in the industrial economy.

We will continue to see the development of the digital economy, from content networks like Facebook and YouTube, to monetary networks and Bitcoin, to energy and transportation networks like Tesla. We’ll see why Apple hit $3 trillion and Tesla hit $1 trillion.

Most people still think of Tesla as a car company, but it’s primarily an energy social network, just as Facebook is a word social network, and YouTube and TikTok are video social networks. If Tesla is just a car company like General Motors, Mercedes or Honda, why is it worth more than the market value of these three companies combined?

Mladen ANTONOV / AFPThe Apple logo

About 20 years ago, social networks appeared with decentralized content, which relied on a “television studio and a pocket newspaper” in the form of an iPhone. Every boy and girl could suddenly produce lyrics and videos and broadcast them to billions of people on YouTube. Today, Elon Musk thinks everyone can create decentralized energy from solar panels, wind turbines or the giant batteries of their electric car.

After the content of social networks, Microsoft and Apple realized the great power of decentralized social networks. That’s why Microsoft bought LinkedIn for $24 billion and reached a $2 trillion valuation. Apple founded iTunes, which is a social network for music, and AppStore, which is a social network for applications, reaching a value of 3 trillion dollars. The social network is a huge source of big data that is the main source of wealth in the 21st century.

It is about much more than a technological and economic revolution. It is a historical-civilizational revolution, as we have known it over the past millennia:

1. The muscles of the man who worked with the hoe produced the wealth of the land in the agricultural society.

2. Fuel has produced wealth from cars in industrial society.

3. Artificial or biological neural network (the basis of deep artificial intelligence) produces a large amount of data from the social network, in the network society.

Miriam Alster/FLASH90
Miriam Alster/FLASH90Illustration – A bitcoin vending machine at the bitcoin embassy in Tel Aviv, Israel

After content networks like Facebook, YouTube, LinkedIn and Twitter, the social network of the decentralized currency bitcoin appeared. Why has bitcoin increased by more than 2,000% in two years (2019-2021), from $3,000 to $69,000?

Because Bitcoin is the money of the network generation. Gold has been the world’s currency for 5000 years. During the industrial revolution of the modern era, gold-based banknotes replaced gold. In 1971, the United States pegged the dollar to gold, and since then the price of gold has risen from $35 an ounce to $1,500 an ounce, and global debt has exceeded $100 trillion. Bitcoin was created to stop the global economic decline and created a whole new system of new concepts that have appeared recently: Metaverse, NFT, WEB 3.0, Crypto, Blockchain, and more.

The main reason for the great power of social networks of content, money and energy is surprising and simple: the industrial revolution was created thanks to the appearance of the steam engine in the factory and in transport. A car equal to 100 horsepower. One main is equal to 100 steam engines, so 10,000 horse power!

Dr. Asher Idan is an international lecturer with 40 years of experience in research conferences and consulting at Tel Aviv and Bar Ilan universities. He is the author of three books on futurism, technological innovation, networking and bitcoin.

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