Modern Science: Metaverse and Crypto Currency
A trial of saving the economy through modern science
In the concurring scenario of the capitalist system, global capital is going through very rustic conditions. In the last 3 decades, there were so many recessions in so many countries on an average gap of 8 years. And now, there is no way out.
All the ways of profit generation have been expelled as the real production and consumption is not reaching the estimated production and consumption : leading to a regular crash in the stock market.
In such a condition, Metaverse and Crypto currency came into the scene.
What is Metaverse
Metaverse is basically a virtual world where everything is to be worked the same as the real world. There are AI robots and AI made virtual products. The development of science and technology has pushed the economy to a virtual level where there is no need for real production to run an economy.
The concept was launched by team Meta, and has been running at a large level for the last 3-4 years.
What is Crypto-currency
This is a virtual currency and this is completely hypothetical. It doesn’t depend on the cash flow and product flow in the market. Rather it depends on the values of stock investments. ‘Money can make more money’ this is the basic idea of crypto. There are so many crypto currencies available now. Each crypto has its separate value. Bitcoin is the top of them. Elon Musk has a huge investment in Bitcoin and also in other currencies. Though it is still not legalised, the governments have begun to create their own cryptos.
Relation between these two
A virtual world with no real production can’t be dealt with real money, especially now, when the ultimate recession is knocking at the door. So, crypto has become the medium of transaction in Metaverse.
It was being projected that within 5 years, Meta and crypto will grasp the entire market. So many attention dragging strategies and all have been done. There began a huge participation in the first two years. But then, lockdown occurred and people started tobgetting out of it.
But, most of the people don’t even have money, real money to recharge on their smartphones, a new smartphone comes with at least 10k. And more than 60% people of the world’s population is living below the hunger line.
So, what do you think, is there any future?