Cryptocurrencies, Bitcoin and NFT: The new digital divide that threatens the world

In the world of digital business, and by definition in the world in general, a new – and fearsome – tripartite divide has been added: society, economy and digitization.

According to the Digital Future Society (October 2021): “New technologies must empower citizens rather than widening the digital divide. What new forms of collaboration are needed to bridge the digital divide? How can governments better protect workers in the new labor paradigm? “

Those questions of the DFS are the ones that must be answered not only by governments and NGOs, but by the rest of society.

Let’s think about it like this: according to the International Telecommunications Union (2019) “Access to the Internet has allowed many of us to move on with our lives despite the pandemic thanks to modalities such as teleworking or online education, but the reality is not the same in everyone. In fact, almost half of the planet’s inhabitants – around 3,600 million people – do not even have access to the Internet (…) Inequality in access to the Internet and ICTs is known as the digital divide and affects 52% of women and 42% of the world’s men. This crack becomes even deeper when we talk about regions: according to data extracted from the Internet World Stats portal as of May 2020, in Africa only 39.3% of its inhabitants live connected, compared to 87.2% of Europeans and the 94.6% of North Americans. “

That is, there are two worlds facing each other: who has access to digitization and who does not. But now we add one more: that of those who can access these new ways of doing digital business through technology. It is one thing to have access to the internet and to be able to learn or study, and quite another is to be able to transact, do business, generate wealth and grow capital from them.

cryptocurrencies

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In the same way that centuries ago it was not the same to be a peasant as the owner of the tools (let alone the large estate), it is not going to be the same in the future to be able to connect to the internet and do something else, than to be able to transact with digital assets auto generated, unregulated currencies and high speed economic / financial transactions.

The truth is that in the market, everyone seeks to find and enhance their alpha. And technology is allowing new alphas to be found. But to prevent this search from becoming a generator of insurmountable differences in society. Because in a complex, volatile and pandemic world, that difference is adding more gunpowder to a highly complex and – unfortunately – explosive socio-economic barrel.

The big question then is: Where are the governments, the public policies and the ways to create real inclusion and greater wealth? Well, for the moment, they are conspicuous by their absence. And the consequences will be seen shortly. And except for those that are protected by a wall of gold and bitcoin, it does not seem that they will be good.

Digital business advisor and university professor.

We wish to say thanks to the writer of this article for this remarkable material

Cryptocurrencies, Bitcoin and NFT: The new digital divide that threatens the world

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