The Robot Economy Will Run On Blockchain - Article Review Essay Example

The article discusses how the finance will look like when it is controlled by machines. The future will have many robots that will run various sectors especially with the computer chips that run the software agents. These robots will even run the factories while the autonomous sensors will have the role of monitoring the infrastructure. The logistics will also run by the chains of unmanned vehicles that are on the basis of autonomy. Thus, the future that people need to build should not only edge on the side of the robot alone but also include the aspects of robot money and the robot markets as well. The importance of having such automation is that it is helpful in finding and fighting fraud and the creation of super-efficient scam agents who can reduce the same. The creation of a centralized digital bank will ensure that for every robotic service that one gets, there is the establishment of a centralized program whose responsibility is to collect and process the commercial information, including the conclusion of contracts, execute transactions and also control these autonomous agents.

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The article also suggests that the capital will become the dominant means for the control of robot behavior. The blockchain will offer the advantage of organizing how the robots perform their duties and a good solution is using a market mechanism, leveraging of the game theory, decision theory as well as the economic mechanisms that assign work. Blockchain will help to build such mechanisms as well as enable the precise planning of these tasks, the evaluation of results and also the distribution of resources. The organization of blockchain is also important to ensure that the network participants are not going to benefit from instances of discrediting it. The robot economy needs to be built on the basis of smart contracts so that they naturally solve the issue of monitoring to fulfil its obligations. However, the market is also set to face a lot of hurdles such as the vulnerability to attacks which gets solved by having miners to generate the blocks, help in placing information and confirming transactions in the market. The bandwidth and the scalability of the blockchain is another hurdle set to face the blockchain. However, there is the full potential of the robot market, especially in the performance metrics. The advantages that the concept of robotization will have are very many and it is good that customers expect higher levels of production and large portions of service work by the agents. There will be an increase in the value of man's economic output in that the goods that are hand-made will also gain luxury status hence meriting a special label like "made by human".

The article is comprehensive with how it talks about the issue of robotization of the market which actually makes sense. The article describes the general overview, the advantages, disadvantages and the ways to solve any problems that may be met in the process. The article is a good source to refer to when looking for helpful information for use. The topic is engaging because the advancements in technology have been the concern for everyone and people are looking for new areas to invent and develop. Thus, developers now have the area of markets that need robotization. I find the article excellent and would recommend it to other readers who are interested in the topic.