Economic think tanks and financial experts are continuously striving to attain sustainable models of the global economy for the masses. This statement might not be true in the eyes of many as the world is currently run by the capitalist model and it focuses on the maximization of one’s wealth and power rather than thinking about welfare for all.
Nevertheless, the global economy has evolved a great deal due to technological evolutions. Individuals have more power and opportunities to thrive in modern-day financial markets than they had ever before. Modern technologies and platforms have got them more leverage against the big guns and we’ll be discussing this shortly.
It has been disturbing times for the global community where they found themselves in no man’s land with the pandemic striking the world. The concepts we’ve enjoyed related to traditional ways of doing business or job securities have all been shattered as you wouldn’t have expected millions laid off from the jobs any time soon.However, this has happened and a makeshift is required in our ways to approach life and the use of financial resources.
Masses are vehemently looking for sustainable income models and what would work for them in the long run. This is quite interesting to note that with one system being collapsed, the alternatives are ready to replace this. Let’s discuss some of the stuff that is evolving right now within the global economy.
Virtual Economy Is Now A Force On Its Own:
It was just a decade ago when Bitcoin was first introduced back in 2009 as a virtual cryptocurrency. Now we have an intense competition within virtual markets too with several cryptocurrencies having their share among virtual investors.
- Chamisa under fire over US$120K donation
- Mavhunga puts DeMbare into Chibuku quarterfinals
- Pension funds bet on Cabora Bassa oilfields
- Councils defy govt fire tender directive
Keep Reading
With the strong backing of blockchain technology, the virtual economy has proved to be more sustainable and less volatile than the other kinds of financial markets.
Bitcoin up is one of the leading platforms that is the prime example of how online trading has been shaping up recently. Individuals who have been involved in online trading really admire how conveniently they are able to control their digital assets due to decentralized controls. There are numerous other benefits too with regards to transaction speed and integrity that keeps this investment model going.
It was at the agenda of World Economic Forum 2020 where they discussed the integration of traditional financial markets with the virtual ones. The model is still in the planning phase, yet this shows the relevance of virtual markets and how large it has grown in recent times. Technology has evolved stuff to a great deal and it can have a much greater impact once authorities endorse this with more openness.
Technology Platforms Have The Leverage:
Globalization processes are far rooted and integrated into the current global economy due to technological platforms allowing them to do so. Global trade is greatly facilitated by technology platforms allowing instant communication and setting up secure payment systems. Platforms like Amazon and Alibaba are the prime examples of this that the technology and internet world has a massive say in the evolution of the global economy.
Big players’ growth rate is exponential at the moment. They have become ecosystems on their own and offer to serve as a startup marketplace for many of the entrepreneurs from all around the world. Corporations have much better say in regulatory affairs as each one of them carries sustenance for a massive number of employees.
This is where the weakness of capitalism has been spotted that some of the business entities have grown larger than the governments. The influence that they have now seems quite irreversible at the moment. However, individuals who still have that spark to grow by themselves are provided the opportunities by making the best use of technological evolutions.
For time being, world powers and big guns would continue to monitor the affairs of the global economy. Apparently, they look towards the welfare of the masses and it is true to quite an extent whilst the control still lies with them. Once the pandemic threat is over, authorities can once again sit back and rethink their sustainable strategies and see how they can leverage technology to ease global economic pressure.
