A company in the self-checkout gear sector recently began implanting microchips into its employees’ hands. The company claims that the chips will enable greater efficiency when employees perform their daily tasks and buy food from the commissary. Some reviewers of the new technology have viewed the development favorably because it can increase efficiency in society. However, others are concerned that it can lead to the abuse of power at the highest levels of society. They fear that the disconnect between society’s elites and ordinary citizens can increase as new technologies like this are ushered in. The widespread use of implanted microchips can further wear away individual rights in the name of convenience.
Bitcoin is a virtual cryptocurrency that allows people to conduct transactions in total privacy. It faces ongoing performance challenges as its global use increases. The time required to complete a bitcoin transaction is much higher compared to using a traditional credit card. This is caused by the process that is necessary in order to make bitcoin transactions completely secure. A new branch of the technology called Bitcoin Cash was recently created in order to accelerate transactions by changing the underlying structure of the data. The creation of this new branch caused all current bitcoin owners to receive an equivalent number of Bitcoin Cash tokens for every bitcoin that they owned. Ultimately, this resulted in bitcoin owners receiving free money. Meanwhile, an initiative to increase the performance of the existing bitcoin technological infrastructure was discontinued last week. This development caused investors in traditional bitcoin technology to panic. Their fear drove a devaluation of bitcoins and an inflated valuation of Bitcoin Cash. It is uncertain whether or not Bitcoin Cash will be the final iteration that solves bitcoin’s performance issues. It is possible that a savvy investor can benefit from a bitcoin investment if a new derivative technology emerges that completely solves bitcoin’s performance issues.
Ted Bauman holds two post-graduate degrees from the University of Cape Town in both Economics and History. Ted led a 25-year career as a non-profit executive in the low-income housing market. He has since worked as a consultant for many high-end clients. He has dedicated his life to helping people succeed as independent individuals free from government control and corporate manipulation.