Elon Musk Makes 5 Predictions on Drug Legalization, Cryptocurrency, and Robots.

Elon Musk was yet again the protagonist at the just concluded Code Conference. The event, which is held annually, is a technology-centered conference that takes place in California.

Each year, Musk gives his well-researched speech which focuses on prominent topics around the world. This year, the prominent visionary and transformational leader, Musk, stepped on stage once again to highlight what the future holds for five very important global topics.

He delved into the future of cryptocurrencies, energy crisis, internet access, and psychotropic drugs. While giving his predictions for these subject matters, he tried to break down and explain what he thinks would be the right solution to each concept problem listed.

Elon Musk is a billionaire and Entrepreneur who has in the past been ranked the richest man in the world by business columns. Musk has been an influential person in the technological industry for quite some time. Early this year he single-handedly raised the market capital of Dogecoin with a few tweets. That showed society that just a statement from Musk can make either rise or plummet.

Musk's unbelievably great and intricate plans have made several Americans and non-Americans who believed in him from the start very rich.

Musk's Predictions

Ever since he started using his platform to make these kinds of projections, many of his speeches have come to fruition, and In few cases, we have observed that the opposite of what he predicted came true.

The founder of SpaceX and Tesla likes speaking about his plans in the technological industry that are in the works and how fitting they will be when they are released. With all he has achieved and still has to achieve, Musk will always have a platform and it is up to spectators to join in his belief or observe.

Here are Elon Musk's new predictions about much-needed innovations and how they'll fit right into the world in a few years.

Cryptocurrency

The billionaire expressed his distaste at the way many of the central banks of the world's strongest economies are trying to criminalize the use of cryptocurrencies. These big banks have analyzed the pros and cons of the subject matter and have seen that they do not want a decentralized currency system.

It is impossible to control or even stop crypto, the most that can happen is that these banks would slow down the progress of the e-currencies. Musk pointed out that cryptocurrencies exist to reduce existing errors in the current financial system. It will also decrease the level of latency observed by customers of traditional banking institutions.

The Tesla founder believes that cryptocurrencies are the only way to end the control which banks and governments have over financial systems globally. According to him, it is better and efficient for the monetary system to be controlled by unbreakable algorithms.

On Twitter (which Musk uses more frequently), he is an ardent supporter of cryptocurrency. He uses his account to advise and predict the coins he believes have prospects.

Psychotropic Drugs

Thanks to a generational change, it appears the full decriminalization and legalization of some prohibited substances is near. Musk said that the laws will have to be amended to fit the new era as well as introduce a new legal market.

Gradually, people are accepting and receiving psychotropics as a therapeutic drug that does more good than harm. While on this subject matter, Musk acknowledged that there is a risk of addiction. He proposed that the legalization of psychotropics will have more impact than the futile war on drugs which has been in effect for decades. Consumers will not be attacked by a regulated system.

In 2018, Musk showed his preference for psychotropic drugs by smoking a stick of cannabis during an interview. This was followed by mixed reactions from the public.

Internet Connectivity Using Starlink

Starlink is a communication satellite network developed by Elon Musk. With the necessary equipment, it will provide internet services to anyone at a subsidized rate. In places where it is available, the monthly subscription costs less than $100.

At the code conference, Musk reassured the audience about the massive potential of his network of satellites being used to offer internet services. He says that Starlink has been designed to better serve those that have been underserved. The brand will mostly focus on developing countries.

He also added that the system could be up and running before the start of the new year.

Energy

Elon Musk announced that the problem of energy is now a reality and in the coming years, he expects it to worsen.

The existing protocol in the energy industry is outdated and should be discarded for something new. According to Musk, the current energy source would not be enough to meet the growing demand in the coming years.

As weird as this might sound, Elon also doesn't believe that an electric source of energy could be the solution to this problem. He said that the electricity demand could at least double what we have currently if everyone switches to electric transportation.

The entrepreneur is deeply worried about the impending climate change and believes that the next big energy source must be environmentally sustainable. Solar energy production is the only thing that fits for now.

Robots

These are more intelligent and interconnected human-like machines whose arrival is no longer inevitable. Musk says his company's robot called 'humanoid' is already being developed. The bipedal automata will be more like a Tesla, but this time it will have legs.

The Tesla CEO shared the details about his Teslabot at the AI day event. The possible launch date of the product is slated for 2022. He added that he'll do his best to prevent a future like that of the Terminator movies from ever occurring.

Last Note

At the end of his presentation, Musk said that with or without Tesla, most of these predictions will come true. He went on to add that Tesla is better poised to guarantee the public's safety and intelligence on these issues. We can't wait to see how this all plays out!