As 2024 progresses, the global economic scenario reveals transformation driven by technological innovation, even amid geopolitical pressures. Among the most impactful trends is the growing adoption of blockchain for asset tokenization and international transfers announced by large banks and the interbank system Swift.
Brazil is once again at the forefront of innovation in the financial system with the implementation of the DREX (Real Digital) project led by the Central Bank. The expectation is to increase dynamism, reduce costs and open new opportunities for companies in all sectors, which sooner or later will be using blockchain in their daily lives.
Profound transformations in the national and international financial system that, combined with advances in Artificial Intelligence (AI), should mark the coming years as a reconfiguration of macro (countries) and micro economic (companies) forces, at a speed that is possibly faster than what we have seen happen with the Open Finance and Pix projects.
The Readaptation of Work in the Transition to a Hyperautomated Economy
The adoption of Artificial Intelligence is redefining the job market in Brazil and around the world. A path of no return that we can no longer deny after using tools like ChatGPT in companies. Today this is my biggest demand for lectures and training, sometimes I can't meet it due to so much demand for the subject.
After the Boom, due to increasingly democratized AI, companies are seeking to balance the use of tools with the need to maintain and retrain their workforce. This implies significant investments in skills development for an increasingly technological and integrated work environment.
AI is also creating new job opportunities, especially in areas such as data analysis, software development and monitoring automated systems. Industries like banking, retail and healthcare are becoming more efficient and customer-centric thanks to automation, predictive and behavioral analytics.
More traditional sectors such as agriculture and manufacturing are also being driven by innovation with increasing use of AI optimizing processes and improving product quality. At the same time, there is a challenge in ensuring that the transition to an automated economy is inclusive, avoiding structural unemployment.
Blockchain and Web3 in Business Transformation
When we talk about companies increasingly adapted to innovations, we cannot help but talk about the growing and silent rise of Web3. I believe that blockchain technologies and Artificial Intelligence will be the main pillars for building a more efficient and fair economy, the Exponential Economy that gives the title of my book.
Blockchain will also improve the corporate landscape in Brazil and around the world. Companies across industries are exploring how Web3 can deliver greater transparency, security and efficiency. This includes everything from innovative startups to established organizations – public and private – that seek to maintain relevance in the constantly evolving digital market.
It may be difficult to visualize now, but the tokenization economy is getting closer. One BCG report estimates that the tokenization of assets should reach the mark of 16 Trillion (with the same T) dollars by 2030. Such adoption will impact the way people interact, transact values, manage data, think, create, produce, in other words, do everything related to economics and business.
Cases of National Companies using Blockchain
To complement the examples of national and government cases using blockchain in the context of this article, let's explore some real cases:
Original Bank: One of the pioneers in digital banking services in Brazil, it implemented blockchain technology to improve the security and efficiency of banking transactions. Using blockchain, the bank was able to optimize processes such as verifying customer identity and validating transactions, providing greater security and speed.
Gafisa: The Brazilian construction company announced that it will accept bitcoin as a form of payment for residential units in one of its projects, “Flow by Gafisa”, located in the Consolação neighborhood, in São Paulo. This initiative places Gafisa as one of the first in the construction sector in Brazil to adopt cryptocurrencies as a payment method, demonstrating an innovative and adaptive approach to new financial technologies.
Cases in Government using Blockchain
O Federal Government of Brazil implemented blockchain technology in issuing the National Identity Card (CIN). The initiative, led by Serpro, integrated blockchain into the Federal Revenue Shared Registry, known as b-Cadastros. This advance can provide greater security in the protection of personal data, immutability of information, and efficiency in the civil identification process.
O B-Connect system, developed by Serpro for the Brazilian Federal Revenue Secretariat, is used to exchange information about Authorized Economic Operators (OAS) between the customs of Mercosur countries. Blockchain technology is employed to ensure the security, traceability and auditability of records shared between member countries, each having its own node in the blockchain network.
Examples of Tokenization that should enter the Citizen’s Daily Life
Property and Vehicle Ownership: People can now buy tokens representing all or part of the property of an asset such as a property or a vehicle. This allows for fractional ownership of properties, making use and investment more accessible. In addition to the practicality of having secure and easily transferable property records in your digital wallet.
Education and Career: Universities can now issue diplomas as NFTs, guaranteeing their authenticity and allowing easy verification by employers. Professionals can have their skills and experiences validated on a blockchain network, facilitating the search for opportunities in companies interested in their qualifications throughout their lives.
Preparing for an Innovative Future
The next few years will be full of opportunities for Brazil. The implementation of DREX, the use of blockchain and advances in AI are not just trends, but fundamental pillars for sustainable economic growth based on technological innovation. An unprecedented opportunity to bring efficiency, transparency and democratic participation at all levels of society.
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About me
I am Edu Ibrahim, Global Faculty at Singularity University and Serial Entrepreneur. I specialized in AI, Blockchain and Disruptive Innovation. I wrote the bestseller Exponential Economy which became the biggest reference on the subject. Throughout my career I have worked in large companies and startups focused on the areas of technology and finance. As a speaker I have spoken to audiences at institutions such as TEDx, Google, Amazon, Singularity-USA, IBGC and many others.
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