Technology has seen a boom in the past two decades with many great inventions. Mostly these inventions were related to computers, smartphones and internet. Nowadays most of the countries depend on the technological innovations and economy of many countries is largely based on selling hardware and other technological devices. You can realize the worth of technology by the factor that the almost all biggest corporations and richest people in the world are related to technology.
Nowadays, the countries that have the most exports in technology sectors are considered to be developed countries. The developed countries like USA, Japan, UK, and some other European countries that were considered to be the pillars of technology are now looking towards other countries like Singapore, Taiwan, China and India because of the rapid growth in technology field. The competition of countries has now increased and each country is making technology innovations with each passing day.
There are developments in both hardware and software field. New hardware to support latest technologies are invented every day. Everything is now embedded with computer technology whether it is televisions, kitchen appliances, Auto vehicles, watches, or any other device. Even the major manufacturing companies all around the globe are now used computer operated robotic machines to manufacture and assemble cars, computers, paints, pharmaceuticals, fertilizers, power plants and every other field.
Crypto currency is another example of the technology advancement. Now the conventional currency is being replaced with electronic or online currency. The crypto currency has seen more than 700% increase within the past year. Major investors across the globe has invested in the crypto currency or digital currency. The value of $10k worth of digital currency has reached to more than $20 million within 5 years. You can imagine the reliance of people on the computers by this figure alone. That day is not far when the paper currency will be totally replaced with the digital currency and people will stop carrying wallets and debit/credit cards on hand. Many payments are already being paid through the smartphones now.
The world greatly relies on the computer hardware these days that it does on anything else. The technology has countless benefits but all these blessings come with a price. The technology has imprisoned the human beings and now every person on the planet is the slave of technological equipment. People rely on things more than they rely on themselves. All these advancements has made the people lazy and less active.
Another side effect and disadvantage of technology is the environmental hazard. The growing technology requires more resources and we are rapidly depleting all our natural resources and according to an estimate, the world will consume all its natural resources within a century. Scientists and experts are discovering new energy resources rather than natural resources. Reusable energy has taken the place of conventional energy to minimize the usage of available resources. All the technological hardware is made reusable to reduce the solid waste. Green technology has seen a boom in the past decade with most of the devices using the green energy resources.