Huge impact! AI, automation, digital finance and blockchain could boost GDP by over 2% per year
According to the latest statistic we are only scratching the surface of what is possible in terms of market cap and growth. Deep learning alone has a projected worth of 17 trillion USD. Digital finance alone could add 0.7% per year to GDP. Remittances alone which blockchain is suited for is worth $500 billion USD.
The potential impact on India is much much larger. Digitization of finance in India combined with tax reform could lead to a decade of 10% GDP growth. All of this in my opinion adds up to there being a lot of potential and regulators, lawmakers, and tax authorities in the United States must see that there is great benefit to be had by tax reform or even tax credits to encourage digitization of the economy.
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Awesome post... ! @dana-edwards
Thanks for the information @dana-edwards. I'm not a fan of GDP as a indicator of wealth, income, prosperity, or growth. I prefer real median wages, this way incomes are not distorted by the fat cat outliers (one-percenters). The Gini coefficient of almost all western countries is climbing even though GDP is on the up. This is an indication that the rich are the reason for improved GDP while the rest of society are stagnated.
In fact, I rather rely on happiness statistics. I believe Cryptocurrencies could add greatly to happiness because of the extra freedom it offers people.