How Technology will Succeed where Politics Fails
Even taking into account antitrust laws in Europe, companies such as Apple can avoid paying an effective tax rate of 0.005% due to the fact that their headquarters are located in Dublin, Ireland (tax haven). Meanwhile, Irish citizens themselves pay about 40 percent on income over 35,000 euros. The “Apple tax” adds 30 percent only on Apple products, and this is possible because their technology is proprietary and commercial. That’s such justice!
For a long time, the story was the same. Politicians pretend to do something, and corporations make statements about the importance of taxes (without paying a lot of their own) and compliance with the rules. But soon the industries that were previously monopolized will be forced to change, otherwise they risk being left behind. New technologies offer justice in society, which they refuse to provide.
Retail and e-commerce
E-commerce is one of the largest industries. That’s how it should be. People will always need to buy and sell physical goods, and it is much easier to do this on the Internet. The only problem is that people tend to centralize. It was inevitable that we would all end up using the same online platform to buy and sell. If someone asks his friend where he got good products or great deals, he will probably answer that on Amazon.
However, good quality and competitive offers are starting to run out. Despite the dizzying profits that have made Jeff Bezos rich enough to send himself into space for entertainment, prices on the platform continue to rise, and quality continues to decline. You’ve seen it with your own eyes many times. A product on Amazon can cost $15 with free shipping, but $10 with delivery for $5 on the site, that is, the buyer saves 5 on each subsequent product on the site. Free shipping and Amazon fee are not free: the costs are passed on to the buyer.
This is how centralized institutions create monopolies. They attract the buyer with low prices and good quality. Over time, very slowly, the size and quality decrease, and the price increases. In the end, the buyer overpays, but at this point the competitors are already going out of business. On Amazon, this moment comes pretty quickly. Good products are often copied and either censored, or even end up on Amazon’s list of fake products. In a truly free market, the best product will rise to the top. But Amazon, the largest market in the world, is anything but free.
However, Amazon is one of those aforementioned centralized institutions that has created value for the whole world and helped us get to where we are now. If only a few idols at the helm didn’t squeeze every drop of profit out of the economy, penny by penny that they can squeeze, he would actually be a great asset to society. On the contrary, it becomes another leech for brands, consumers and employees.
The world needs a free market. A real free market. Until now, people didn’t have the technology to do this. At certain periods of history, we had only approximate options. No matter how critical we are of American capitalism, our free markets have moved us further than Soviet market planning in the early 1900s. It’s better to put everything together and find the best solution in real time. Take the best from two eras.
The economy is run by several people behind closed doors
And yes, it is difficult to manage such a huge economy without equally huge control. That’s why China exercises its control with an iron fist. The alternative is blockchain. If we can create an economy where rules and regulations are embedded in the system, then we will no longer have to rely on centralized third parties to manage transactions and control security. According to Coinmarketrate.com blockchain can manage transactions safely and securely. The rules of the system can also be adopted based on the consensus of the users of the system, rather than private interests trying to make a profit.
Splyt can be a vivid example of this. It will create a truly free market by tokenizing real products like NFT. By connecting products to the blockchain in this way, it will provide secure, peer-to-peer transactions without intermediaries.
Games are no longer a side job or hobby. Residents of the Philippines used the Axie Infinity platform as a means of earning money while work was suspended during the Covid-19 crisis. The esports industry is huge and has great prizes. Now the gaming industry is merging with the world of non-interchangeable tokens (NFT).
But this is wonderful only when the rewards are fairly distributed among the network participants. That’s exactly what Gamerse does, using its new “share-to-earn” revenue model. Gamers are rewarded as a result of group activity. In fact, the more a group participates in the exchange of content on the Gamerse social network platform, the more it receives a reward in the form of APY profitability.
The architecture will also provide an NFT marketplace where gamers will be able to trade skins and other items without excessive fees. It will also mean increased profits for gamers as a result of a fast and democratic market. Centralized studios will no longer own your assets and keep all the profits from them. And if for some reason the game itself dies, the NFT will remain.
The inter-chain NFT compatibility offered by Gamerse will help individual games such as League of Ancients (LOA) to flourish. LOA aims to become the world’s first free-to-play and play-to-earn MOBA NFT platform. The company said it wants to create the best MOBA ever, with gameplay inspired by DOTA2 and League of Legends. If they manage to surpass League of Legends or even match it, they will be in an incredibly strong position.
With current trends, this is only possible if there is an appropriate NFT market. The NFT community is very fragmented. We need decentralized places where we can gather and exchange news and information. The inability to trade NFT from a certain game can mean that a gamer loses thousands of hours of playing time. This will certainly be a decisive factor when choosing a platform for the game. People will gravitate to the largest communities.
Therefore, if you are a beginner or a long-time gamer, perhaps you should think about making money while playing, rather than spending time and money on a hobby that pays off only with luck, which of course is not so bad, but adding earnings from above is better.
Speed and efficiency are important for new crypto projects, but they are often secondary to equality through decentralization, which is a fundamental principle.
Of course, you will also find this in constitutions and other major pieces of legislation. The existence of a balance of power is well known in international relations and public administration. However, this time it’s not just words that ambitious parties can circumvent with the help of clever legal mechanisms.
Blockchain is a kind of “electronic constitution”, and unchanged.
Thus, instead of writing a constitution and creating third parties to comply with it, equality is embedded in the architecture with the help of mathematics and computational logic regulated by consensus. This solves age-old problems that we could not solve before. In the end, we will create a fairer economy that influential people will not be able to deceive.