Don’t worry. Inequality will be broken by Blockchain.

eBay has gone bankrupt.

MyBay has taken over.

It is the latest example of the dramatic redistribution of wealth that is happening due to the Blockchain Collective.

Facebook is within a whisker of being taken over the by Blockchain Collective’s Mybook. It is on track for happening by the end of 2022.

What is startling is that within 5 years these businesses have fallen from celebrating their success with stunning new head offices to finding themselves fighting for survival.

And at the same time the huge inequality that was hampering the world five years ago has turned on a dime to being a problem that is being solved.

Blockchain Collective had the brilliant idea of using blockchain to give every developer, employee and customer a share of the business based on the number of hours worked on it or amount of money spent on it.

A tradeable blockchain currency for each business the Collective has focused on was created. MyBays. MyBooks. MyOogles.

This created enough incentive for developers to gather and rebuild eBay with this shared ownership model. And the same for other employees including finance, marketing, legal and customer services.

And then customers flocked to it because they got a share for every thing they bought and sold.

And service providers also got a shared part of the ownership too. And if people wanted they could buy a share of the business to invest in it and give it capital to build itself.

Although eBay’s functionality was initially vastly superior to MyBay, customers were patient and used it anyway seeing that the development path would mean it got as good within 2 years.

So, what started in 2018, had real momentum by 2020 and death occurred in 2022 for eBay.

The same has happened with Facebook Blockchain Collective. It is closer to destroying Facebook, Whatsapp and Instagram. Unseating Google is also underway.

This podcast in 2017 was doom ridden about robots and automation creating societal ruptures because of inequality. There was no mention of a solution involving shared ownership of these business.

This is a thought piece. Is it happening?