The advent of the digital revolution is compared to the Big Bang, the most significant event in the universe’s history. This comparison is made due to the revolutionary impact of digital technology, which has transformed every aspect of human life, from communication to commerce. It’s an ongoing process that is constantly evolving, with no end in sight.
The digital revolution has brought about a new era of abundance, unlike the previous scarcity-driven economies. This shift has enabled the democratisation of production and consumption, empowering individuals to become producers rather than mere consumers.
The digital revolution has also led to the creation of a new kind of marketplace, the ‘Because Effect’. This marketplace operates on the principle of ‘because of’, rather than ‘with’, meaning that value is derived from the secondary effects of primary activities. For instance, musicians now make more money from concerts and merchandise ‘because of’ their music, rather than ‘with’ their music.
The digital revolution, like the Big Bang, is a phenomenon of immense proportions. Its impact is not only reshaping our world but also redefining our understanding of value, wealth, and power. It’s a paradigm shift that is still unfolding, promising to bring about even more profound changes in the future.
Go to source article: http://blogs.law.harvard.edu/doc/2015/03/25/the-most-important-event-ever/