The future of IOT is for everybody to see.A little farther ahead you need to see Human beings change the thought of ownership a full 180 degrees.
Depriving another human being was justified with the scarcity mindset.That will give way to abundance and wastage would be redefined.Anything that is not consumed by human beings will be termed as wastage. That does not need to be produced and will not be produced.
There will be limited production as per the nutritional and physical needs of the body. Clear identification of physical and not aspirational needs will be prevalent. All other needs for the virtual life atom will gain precedence and every single human being will feel wanted useful and interact with others to create bliss on a global scale.