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AI and Blockchain agents will redefine the digital economy


Opinion by: Arunkumar Krishnakumar, head of institutional growth in Marinade Finance

Increasing the Internet and Social Media will redefine how brands reach billions of users around the world. There is a continuous competition for users’ attention, until the digital ecosystem is careful engineer for chaos. Welcome to the economy of attention, where the metrics of contact are preceded by significant user experiences.

People are bombed by notifications, ads and content that are optimized to obtain clicking instead of fulfilling the needs. A 2020 Economist Intelligence Unit study Found That 28% of the US working hours in knowledge lost to disruption, featuring the economic impact of uninterrupted pursuit of attention. The breed for users’ attention has led to significant costs of cognitive, financial and social, which requires an easier centric framework called economic intention.

The mechanics of the economy of attention

Digital platforms are designed to capture and maintain the user’s attention and lead them through a series of dopamine-generation mechanisms. Algorithms appreciate the addictive content to ensure that users remain engaged and continue to return to their platform. For example, a Google search for travel insurance will result in the results of SEO skills and paid ads, which often drive users towards suboptimal options.

Similarly, although it seems to be useful, price comparison websites will prioritize results based on auction placements rather than real relevance. There is a focus on efficiency rather than accuracy when delivering the user.

The misalignment between the user’s goal and system design is expensive to the economy. The 2020 Economist Intelligence Unit Study estimated that interruptions cost the US $ 391 billion economy annually -to the lost productivity.

The giving -free toll

A digital -dedicated digital economy has gained a toll on users and creators. For users, the continued flow of notices hurts focusing, reducing productivity and removing capacity for deep, critical thinking. A study of King’s College London Found 51% of respondents believe the technology affects the attention of young people.

Creatures of Content, Quality and Economy

For content creators, the economic pressures of attention are equally painful. The creators are locked in a setup where they must create a continuous stream of engaging content to maintain visibility and interaction. That often leads to significant stress and burnout.

The creators are forced to deliver sensationalist and low quality content. They can take Clickbait titles, thumbnails or controversial topics to attract scenery, frequent cost of accuracy and depth.