The growing risk of armed conflict throughout the world, along with the previously hypothetical fear of nuclear war, are the new realities that have prompted us to reconsider the importance of blockchain technology.
The list might go on forever: the problem in Taiwan, the tension in North Korea, the conflict between Armenia and Azerbaijan, Turkish aspirations in Central Asia, etc. The world is currently in a very hazardous position. Russia's assault in Ukraine might be only the beginning.
Is Blockchain Capable of Saving Us?
Blockchain technology may save the planet, according to Irina Swan Lebedeva, Product Lead at Consensys, the leading international provider of blockchain development services.
"Immutability is one of the most significant characteristics of decentralized blockchains."
On the blockchain, information cannot be lost or modified. It can only be destroyed by eradicating every single network-connected gadget, which is almost impossible.
This is especially crucial in the case of a world war in which certain states lose their sovereignty.
Blockchain enabled the creation of decentralized currency. Real estate was believed to be the safest investment, but today more and more people are beginning to see the value of cryptocurrencies since they could be the only assets you can save in the event of war or another dire situation.
Save The Planet or Save The Blockchain?
Climate change, which will drastically alter the world's climate and geography, is another significant threat to humanity.
Again, this will result in money flowing away from, for example, real estate and into digital companies, particularly those with a decentralized structure. Although blockchain and cryptocurrencies cannot prevent military conflicts, they can give improved asset security in unpredictable times.
Furthermore, preventing climate change may lead to blockchain's death.
Global use of central bank-issued digital currencies is also accelerating as a result of the crisis. As early as next year, the US might launch its digital currency. Irina believes that the current system's difficulties, both political and economic, may lead to the development of more open and secure databases and apps. More than ever, it is crucial to adopt blockchain technology.
Will Wars Lay Destruction Upon the Digital World?
By 2024, fiat currencies like cash, euros, and others could be dead. If these new digital currencies are adopted over the next 12 months and nations reach an agreement, the world might be spared from the current financial catastrophe. Climate change and military conflicts in 2022-2023 may transform our definition of "safe" in the next 10 years.
The euro has lost more than 13% of its value since the start of the crisis in Ukraine, and $34 billion in US coastal real estate is at risk from sea level rise brought on by climate change. Taking everything into account, this is the ideal time to put money in this one-of-a-kind technology and monetary systems that are based on security, decentralization and transparency.
Financial independence is a vital human right, and individuals need to feel safe. The term "safe investment" will be reinterpreted. Along with Bitcoin and Ethereum, there will be many other big cryptocurrencies that grow and prosper for the greater good.