The invention of the steam engine in the first industrial revolution created huge productive forces, accelerated economic development, promoted social progress, and divided into two major classes, the bourgeoisie and the proletariat. The second industrial revolution invented electricity, marking the entry of human beings into the era of electric vaporization, and science and technology are changing with each passing day. The rapid development of the Internet in the third industrial revolution has brought mankind into the information age, and human life has entered a new era. So what will the fourth industrial revolution be? What impact will it have on human development?
The Fourth Industrial Revolution is actually a 'green' revolution, a revolution in clean energy, saving labor costs and maximizing resource utilization. The Fourth Industrial Revolution is profoundly changing everything around us, even the way we live. This revolution promises to create greater efficiency in all industrial sectors and to bring about the greatest benefit to humanity. However, for the Fourth Industrial Revolution to succeed, there must be an open, borderless payment protocol. This protocol is Bitcoin and the blockchain.
From the very beginning, blockchain technology has been considered the next generation of fintech infrastructure. These characteristics, including its inherently distributed nature, unquestionable consensus mechanism and reliability, and the fact that it makes data open and transparent, have made banking institutions around the world eager to change their backend systems to use blockchain technology.
The high efficiency, low cost and high security of blockchain technology have been discussed and explored by various industry experts and intellectuals. This globally recognized disruptive new technology is constantly being researched and applied, complemented by a collaborative mindset to create new business models and regulatory services. Its globally efficient approach to collaboration is minimizing the cost of verification and trust.
"A major feature of the Fourth Industrial Revolution is that it doesn't change what we do, it changes who we are."
The steam engine powered the first industrial revolution. Then electricity, assembly lines, and other mass production technologies brought about the second industrial revolution. Then, computer technology and microelectronics technology promoted the third industrial revolution.
Now, amazing innovations, including the Internet of Things, genetic engineering, 3D printing, artificial intelligence, driverless cars, robots and smart devices will bring about the fourth industrial revolution, the era of Industry 4.0.
Bitcoin and its underlying blockchain technology is another important technological innovation. Indeed, as Schwab puts it, "blockchain is at the heart of the fourth industrial revolution."
These new technologies are also having a huge impact on
In the field of IoT, blockchain can also accelerate the development of this new economic system by performing transparent and seamless financial transactions through millions of smart devices, without human interference.
Blockchain technology is used in three elements of the supply chain, starting with logistics, information and capital to improve productivity, tracking and information sharing. When developing a trust platform with the VeChain mechanism, the new system greatly increases productivity while reducing costs. Blockchain technology can even create new business models.
Imagine the fourth industrial revolution, where blockchain technology paired with the Internet of Things (IoT) could enable any number of parties to see the entire production chain at all times. Using blockchain, all parties can obtain verifiable and reliable data, which will lead to more efficient global workflow and lower coordination costs between enterprises.