The new world order is approaching and Bitcoin is part of it
A new world order is coming after the Coronavirus, and within it Bitcoin has an important role to play.
Nothing will ever be the same after the Coronavirus. From now on, the economy, politics and society will undergo radical changes that will shape what is already beginning to be known as the “new normal”. But don’t be confused, this new normal will not last until you get a Covid-19 vaccine. Well, the new world order is coming, and Bitcoin is part of it.
A new international policy: The return of nations
The first effect of the Coronavirus in the world will be the acceleration of a trend that has been observed for several years, but that after Covid-19, will be consolidated definitively, which includes Bitcoin. We refer to what is known as the return of nations or competition between great powers.
And it is that, since the fall of the Berlin wall in 1989 and of the Soviet Union two years later, in the West we have become accustomed to seeing the world in globalist terms. Believing, as Francis Fukuyama predicted at the end of the 20th century, that history was over, and that liberalism had finally triumphed.
Following this logic, it was enough to sit quietly to observe how democracy defeated authoritarianism in the new world order. At the same time that markets were opening and cultural exchanges were becoming commonplace. A process that should be guided, of course, by the United States of America as a great world superpower. However, things have not gone as expected since this globalist ideal was postulated a couple of decades ago. Well, with the passage of time, and the consolidation of globalization, there was also the parallel phenomenon of the strengthening of rival powers to the United States.
Thus, today countries like China and Russia, which do not share the values of the western world, have emerged as great contending powers, openly defying the United States. At the same time, democracy is receding globally, and nationalism is experiencing a new boom. All this deepened by the Coronavirus, and the logic of “save yourself who can” that has prevailed during the pandemic.
Therefore, it is important to remember that in the triad made up of politics, economy and society, if one changes, everyone changes. Therefore, with these political changes, the economy and society will be affected. Furthermore, it is in these two areas that Bitcoin comes into play strongly to shape the new world order.
Technology, society and the Fourth Industrial Revolution
Of course, the process described in the previous section does not happen in a vacuum. Well, the Coronavirus has broken into the Fourth Industrial Revolution. A true technological revolution that is transforming our world, through the combination of physical, digital and biological technologies.
Thus, technologies such as 3D printing, artificial intelligence, Blockchain (and of course Bitcoin), autonomous cars or biological engineering, are making their appearance globally. Generating disruption in practically all sectors of the economy, which has great consequences for society.
And, if fewer workers are now needed to produce the same goods or offer the same services, what to do with all the people who will be unemployed due to new technologies? This without considering ethical questions, such as is it moral to alter the genetic characteristics of children to create “custom babies”?
Thus, much of the social unrest that the world has suffered in recent years. Leading to the resurgence of nationalist and fascist tendencies, in many countries of the western world, for the first time since World War II.
It is largely due to the emergence of these new technologies. And although it seems ironic, Bitcoin is part of those new technologies that helped shape these nationalist or fascist trends. Which, as Kai Fu Lee explains, have the potential to do both harm and good:
The new economic world order
Finally, one last consequence of the trends accelerated by the Coronavirus crisis is what is known as the “great decoupling”. And, in recent years, worldwide, what is known as “global value chains” have been developed. Which consist of the dispersion of the production of different merchandise among several countries.
Korean screens, Indian batteries, Chinese cases, American chips, Japanese cameras. Parts from more than ten different countries can be used to make a cell phone. What, in a time of competition between nations, and after a pandemic like the Coronavirus, is seen by several countries as a strategic weakness.
And it is that, if the production of goods that my country requires depends on the good will of a dozen other countries, it is strongly affected by their decisions. In the event that these nations decide to close the export of these pieces or merchandise, my economy and my population will be affected.
As has happened recently, when western countries have suddenly noticed that the production of medical masks had been relocated to Asian countries. They are not willing to export them while facing the Covid-19 themselves.
In addition to this, global value chains are also a means for the dissemination of technical knowledge. What, in the midst of the Fourth Industrial Revolution, when all countries want to take the lead in new technologies, seems intolerable. However, with Bitcoin and Blockchain technology you can fight for the decentralization of information.
Well, although the scientific community accepts the need to share research results from around the world in order for science to advance. Governments are increasingly jealous of their scientific and technological discoveries. This, together with the other factors discussed, lead the global economy to a time of decline in globalization, with an increase in protectionism and geopolitical duels.
What role does Bitcoin play in this new world order?
All the changes mentioned make up what we can consider as a “structural change” in the international system. That is to say, such profound transformations in the distribution of power between the States, as well as in the level of technology and the configuration of the world economy. Which will necessarily lead, after the Coronavirus, to the emergence of a new world order.
And in this post-coronavirus world order, Bitcoin has an interesting role to play. Well, unlike other times when States tried to stop the globalization process, societies have been empowered in recent years.At the end of the day, technologies such as 3D printing, the Internet or artificial intelligence are mechanisms that they provide greater power to society against the State. Empowering citizens, who now, in the midst of the Coronavirus crisis, can communicate and collaborate with each other beyond their governments.
This is why when the new world order approaches, the importance of a cryptocurrency like Bitcoin cannot be underestimated. Well, this, along with other decentralized cryptocurrencies such as Ethereum, Bitcoin Cash or EOS. They are a means through which citizens can relate economically to each other, without the need for government intervention.
This has already opened a new battlefield worldwide, between companies and governments seeking to develop their own centralized virtual currencies. And a community gathered around Blockchain technology, which seeks to empower citizens, and free the economic capacities of all individuals on the planet.
Thus, when the new world order begins to be born, marked by political, economic, and social conflict. Cryptocurrencies, and especially Bitcoin, will be the flag of those who, in a world that turns its back on globalization, still believe in its values.
Disclaimer: This press release is for informational purposes information does not constitute investment advice or an offer to invest. The views expressed in this article are those of the author and do not necessarily represent the views of infocoin, and should not be attributed to, Infocoin.