Writing for the CoinTelegraph digital economy luminary Don Tapscott introduces ‘The Trivergence‘, transformation driven by blockchain, Ai and the IoT.
Don has been a visionary at the forefront of Internet innovations since first writing about the Digital Economy in 1994, and he believes we’re now entering the second main phase of this cataclysmic evolution.
The Trivergence refers to the synthesis of three individual technologies: The blockchain, Ai and the IoT, in such a way this environment is entirely pervasive throughout our society.
The IoT interconnects everything through wireless sensors and smart devices, Ai intelligently processes the vast volume of data it produces and the blockchain provides an integrous record of all of these transactions.
This will manifest across a multitude of use cases and industry scenarios, from improving accuracy in forecasting climate change through revolutionizing transport, logistics, healthcare and many many more. Industry innovation collaborations will accelerate progress – Don cites examples like the Mobility Open Blockchain Initiative, an alliance of public and private organizations working to make transportation more efficient, affordable, greener, safer and less congested.
They convened Renault, BMW, General Motors, Honda and Ford Motor Company to begin field tests for a blockchain-based vehicle identification system that will enable drivers to pay highway tolls and parking fees automatically, assigning digital IDs to individual vehicles and record details such as ownership information and service history on a blockchain.
The same technology will enable other industries to pioneer similarly intelligent supply chains. Walmart, for example, are using sensors and Radio Frequency Identification (RFID) tags attached to foodstuffs to track meat or other agricultural products from the farmer’s field to the supermarket’s shelf.
Smart traffic lights can reduce road congestion by adjusting the light cadence to real-time traffic conditions. Connected parking meters and EV charging docks can broadcast their availability to nearby drivers, while smart garbage receptacles notify waste management companies that they need emptying.
In manufacturing, 3D printers are manufacturing aircraft parts in a Boeing facility with a blockchain network facilitating all the patented files, contracting and payments peer-to-peer. Telecommunications companies are no longer negotiating complex, costly and ever-changing roaming agreements, but using blockchain-based smart contracts among providers to automate the web of payments and settlement globally.
Over time, the Trivergence will usher in a next-generation internet where nearly every animate and inanimate object on Earth generates data, a distributed ledger records and secures this data and AI analyzes the data, communicates with the objects, alerts their owners and continuously adjusts and improves the efficiency of the economy and the sustainability of its effects on the environment.