Cryptocurrency's Affect on Class Mobility (How Tech is Leveling the Playing Field)

Socio-economic class mobility describes the ease with which a person born into a lower class can move into a higher class.

Many renowned intellectuals and philosophers like Noam Chomsky suggest class mobility has become unachievable with no hope of changing in the future. Parts of the argument are undeniably true, but if you flip the record, there is something worth listening to on the other side.

The dawn of advertising begot the oppression of the masses: seducing and distracting them with materialism, media, and journalism to keep them at bay.

During that time, I agree that there was no hope for class mobility; however, that time has passed and there is a glimmer of hope on the horizon unbeknownst to vintage thinkers: it is technology.

Classical scholars lack a fundamental understanding of technology that blinds them to the equalizing effects it is has on the economic playing field.

Perhaps they believe game-changing technology is only available to geniuses or the wealthy, but some of the most powerful and progressive technology was created and is owned by middle-class citizens (and is used by middle and lower-class citizens more and more everyday.)

Nearly everyone, regardless of social class, has access to smart phones, computers, and, most importantly, the internet. Many believe the gap between the 1% and 99% will continue to grow, but technology is producing an era of reckoning that is already in full swing.

Technological knowledge is growing and technological processes are developing at a rate that will prove detrimental to the survival of large businesses and organizations.

The corporate dinosaurs don’t realize it yet, but their world was rocked by a blazing, fiery asteroid and they aren’t agile enough to survive in the ever-changing environment it has introduced.

The small, boutique operations limber enough to take advantage of the perpetual growth of technology will prevail:

• ones that keep a fresh, fearless crew on deck and have an ambitious visionary at the helm;
• ones whose culture is focused on human resources and whose goal is to provide goods and services that enhance others’ lives;
• ones that contrast greatly from profit driven corporations that focus on the bottom line to the detriment of all lives and the planet.

The technological revolution is dramatically leveling playing fields in all respects: advertising, media, banking, finance, transportation, food, services, and just about everything else.

Think about it - ten years ago it was too expensive to create film productions.

Now with a cell phone, anyone can shoot videos and share them publicly. This alone has spurred the creation of a multitude of independent documentaries that expose big businesses and organizations wrought with corruption.

In a few years time, most people will be aware of the fraud and unethical behavior demonstrated by government entities, religious organizations, the food industry, and corporate America.

The increase in public awareness along with the increasing availability of alternative goods and services through technological progress will start bridging the gaps between socioeconomic classes.

The oldest and largest sectors are already struggling to catch up with changes caused by technological advancement: food, finance, and law.

The jig is up on the toxic sugar, salt, and fat the food industry has been force-feeding everyone. Demand for natural, organic food products is ever-increasing, causing a rise in the popularity of urban and fresh markets around the country.

Online banks and investment companies with no headquarters or physical branches are able to offer no fees and more perks due to lack of overhead.

Peer-to-peer lending websites connect investors with higher risk tolerances and more flexibility than banks with borrowers who are unable to secure a loan the traditional way.

Technology is replacing the need for lawyers and legal assistants more and more every day. Laws don’t exist on how to deal with a lot of the technology that exists now and is being created as you read this article.

Traditional legal processes and the court system are so slow and inefficient, it is already being forced to adopt technological processes such as filing lawsuits via online portals and filing pleadings online.

Even in the face of an economic collapse courtesy of corporate America, financial policies, and government bailouts - the agile, socially responsible mammalian businesses will survive and build a playing field that inures to the benefit of all mankind.

As long as the dinosaurs don’t cause a nuclear fallout.