Sam Altman is certainly getting a lot of attention these [days](https://inleo.io/@leoglossary/leoglossary-day).  He is now one of the most watched figures in [technology](https://inleo.io/@leoglossary/leoglossary-technology).  The net result is that, whenever he says something, it gets massive coverage.


Recently he started to discuss the impact of [AI](https://inleo.io/@leoglossary/leoglossary-artificial-intelligence).  This led to the idea that we are going to see massive [job](https://inleo.io/@leoglossary/leoglossary-job) destruction, leading us to a topic covered frequently on here.


What happens when labor [income](https://inleo.io/@leoglossary/leoglossary-income) goes away?


As stated on a number of occasions, this is going to be something humanity will need to confront.  How this is resolved is up to a great deal of [speculation](https://inleo.io/@leoglossary/leoglossary-speculation).


Altman's view is universal basic income, but with a slight twist.

https://ideogram.ai/api/images/direct/d4-9pSW0RiCdOGiQBl392Q.jpg
Image generated by Ideogram


# Compute For Everyone


One of the reasons I keep promoting [Web 3.0](https://inleo.io/@leoglossary/leoglossary-web-3-0) in these [articles](https://inleo.io/@leoglossary/leoglossary-article) is because it provides a radically different ownership structure.  In other words, the fruits of the [economic](https://inleo.io/@leoglossary/leoglossary-economic) output are distributed in a new manner.  Here is where we can see change taking place.


Altman touches upon something interesting.  


Over the [years](https://inleo.io/@leoglossary/leoglossary-year), we have compared the idea of income to ownership.  Most focus upon income.  How much do you make is often asked.  What does the job pay?  


Most of society is focusing upon income. Yet the wealthiest have a different metric: [net worth](https://inleo.io/@leoglossary/leoglossary-net-worth).


Hence, the key is ownership.


Altman starts to touch upon this subject to a degree.  His idea is for each to have a piece of GPT-7.


>“2016 was a very long [time](https://inleo.io/@leoglossary/leoglossary-time) ago. [...] I wonder if the future looks something more like universal basic compute than universal basic income and everybody gets a slice of GPT-7’s compute and they can use it, they can resell it, they can donate it to somebody to use for [cancer](https://inleo.io/@leoglossary/leoglossary-cancer) research.”  


[Source](https://cointelegraph.com/news/sam-altman-slice-gpt-pay-ubi-artificial-intelligence)


This is not a bad framework to operate from.  


Certainly, we cannot accurately [comment](https://inleo.io/@leoglossary/leoglossary-comment-hive) on the prospect of this regarding this specific project since there are [investors](https://inleo.io/@leoglossary/leoglossary-investor) who are not simply going to give their stake away.  The details of moving from basically a present system structure to something akin more to Web 3.0 is unclear at this point.


That said, what Altman is mentioning is what I think is at the core of any future solution.  While income helps, the game changer are [assets](https://inleo.io/@leoglossary/leoglossary-asset).  Providing people with ownership is a radically new concept.


How that is achieved will be hotly contested (if it is even pursued).


## Web 3.0 Is The Solution


There are many layers to Web 3.0.  This is where the [opportunity](https://inleo.io/@leoglossary/leoglossary-opportunity) resides.


Consider for a moment, what we have today.  There is [infrastructure](https://inleo.io/@leoglossary/leoglossary-infrastructure-computer), [base layer](https://inleo.io/@leoglossary/leoglossary-base-layer-blockchain) [coins](https://inleo.io/@leoglossary/leoglossary-coins), [sidechains](https://inleo.io/@leoglossary/leoglossary-sidechain), and [applications](https://inleo.io/@leoglossary/leoglossary-application) along with games.  Each layer can be tokenized, providing an [incentive](https://inleo.io/@leoglossary/leoglossary-incentivize) structure that garners participation.


This is something we can already see.


The challenge, which Altman is trying to [address](https://inleo.io/@leoglossary/leoglossary-address) with Worldcoin, is the majority of the [planet](https://inleo.io/@leoglossary/leoglossary-planet) doesn't have the resources to [buy](https://inleo.io/@leoglossary/leoglossary-buy) in.  It is the proverbial it takes [money](https://inleo.io/@leoglossary/leoglossary-money) to make money.  Infrastructure does come with a [cost](https://inleo.io/@leoglossary/leoglossary-cost).  While it is a solid way to generate a return, it is not guaranteed.


Worldcoin looks to change this by giving the coin away.  Of course, we already saw major [privacy](https://inleo.io/@leoglossary/leoglossary-privacy) issues related to this.  Unfortunately, it is a situation where we have to trust Altman, something I am not willing to do.  This is too much [counterparty risk](https://inleo.io/@leoglossary/leoglossary-counterparty-risk) to take.


What if, however, people could receive [tokens](https://inleo.io/@leoglossary/leoglossary-token) based upon their activity.  This is a concept that Hive implemented years ago.  By being active, base and second layer tokens can be accumulated.  For the moment, the focus is upon content creation.  That said, there were other experiments which delved into other areas of activity.


To his [credit](https://inleo.io/@leoglossary/leoglossary-credit), Altman is thinking in the Web 3.0 direction.  He is using AI (at least compute) as the asset base required for distribution.


This is in line with his thinking that compute is going to be the [currency](https://inleo.io/@leoglossary/leoglossary-currency) of the future.


Of course, [tokenization](https://inleo.io/@leoglossary/leoglossary-tokenization) is a quantified representation of that activity.  Just look at the tokens used when doing a prompt in some [chatbot](https://inleo.io/@leoglossary/leoglossary-chatbot).


## The Scarcity Equation


We always have to keep looking at the abundance-scarcity equation.  


Over time, scarcity changes.  The question is what will be scarce in a decade?


My view is [networks](https://inleo.io/@leoglossary/leoglossary-network) will be abundant.  This means that, since people have so many choices, attention is going to be the premium [commodity](https://inleo.io/@leoglossary/leoglossary-commodity).  However, if we go deeper, we see something even more fundamental.


If there are an abundance of networks, this means each is going to require a certain amount of compute.  Altman latched onto this, taking this stance long ago.


It is ironic that [cryptocurrency](https://inleo.io/@leoglossary/cryptocurrency), tokens with [market](https://inleo.io/@leoglossary/leoglossary-market) value that can be traded, are what alter the entire system.  Tokens are nothing new.  The challenge is most cannot be used for currency.  They serve the purpose of quantifying compute yet do not enter the markets.


Cryptocurrency changes all that.


If compute is scarce, and is distributed, how is it monetized?  Since [Bitcoin](https://inleo.io/@leoglossary/leoglossary-bitcoin) came onto the scene, the answer is clear.


## Abundance


Using compute as the currency of the future, how could that have any value if it is continually increasing?


This is the mistake people make believe currency is devalued simply with more of it generated.  Actually, it is the opposite, if one condition is met.


[Semiconductors](https://inleo.io/@leoglossary/leoglossary-semiconductor) have a CAGR of roughly 13%.  This means that we saw the growth of the industry explode over the last half [century](https://inleo.io/@leoglossary/leoglossary-century).  It is a metric, however, that does not take into account the actual compute.  This is [sales](https://inleo.io/@leoglossary/leoglossary-sales) as expressed in dollars, which, at a minimum, followed [Moore's Law](https://inleo.io/@leoglossary/leoglossary-moore-s-law).


Therefore, we see the actual amount of compute at a much higher level.  Here is where the inflationists will start beating the [drum](https://inleo.io/@leoglossary/leoglossary-drum-instrument).


Of course, it is a non-issue since we realize that compute is actually constrained.  Over the next decade, the amount required is only going to keep expanding.  Each time [NVIDIA](https://inleo.io/@leoglossary/leoglossary-nvidia-company) brings out a new chip, it is a major step up in processing over the previous generation, and they [sell](https://inleo.io/@leoglossary/leoglossary-sell) out like hotcakes on Sunday.


The scarcity model even arises with abundance if the growth is much higher.  Considering what is being forecast in regards to our [digital](https://inleo.io/@leoglossary/leoglossary-digital) multi-world future and all that entails, it is easy to see how this will unfold.


Hence, whatever compute is rolled out will be swallowed up as technology advances further along.  Just consider how much processing will be required for inference.


The question, as always, is who gets the financial benefits.  Under the present system, we know it is a select handful of mega-corporations.  This is where things need to change.


Altman is, at least on the surface, thinking of a new way of structuring things.  He is the closest to the Web 3.0 [world](https://inleo.io/@leoglossary/leoglossary-world) of any of the mainstream tech people.


We will see where this conversation leads.


____


[What Is Hive](https://inleo.io/@leoglossary/leoglossary-what-is-hive)


Posted Using [InLeo Alpha](https://inleo.io/@taskmaster4450/sam-altman-computing-as-a-currency-a-web-30-idea)