Economic inequality

Published: 3 сентября 2022
1 min

The world economy is growing rapidly, thanks to the advantages of capitalism and globalization, but there are also disadvantages to this growth. Population growth is uneven, in some countries it is stronger and in others it is weaker.

In addition, industry is rapidly robotizing and automating, resulting in rising unemployment and rising inequality among countries.  

The idea of a distributed economy was supported by large companies such as Airbnb, Uber, Lyft. When blockchains came into the business process, there was a mechanism to ensure that people shared capital. This mechanism helps to create a real «Common Economy». For example, a part of a car in a carpenter park may belong to each employee of the collective. When a customer rents a car, a portion of the profit is sent to the employee. Blockchain allows this to be done transparently and fairly. In this way, each participant in the economy can own a share of capital or a means of work.

In this way, the introduction of a blockchain and the decentralization of the economy will help to tackle global inequality faster than the introduction of a universal basic income.

Reforming the world economy requires the political will of all countries, job losses and the emergence of conflicts amid inequality will push the world towards blockchains.

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