This article was written by Sterlin Lujan
Bitcoin represents the epitome of success for blockchain tech — but this is just the start. The applications for the technology are manifold. They can potentially solve a myriad of social problems, especially in regards to government corruption and inefficiency. This new direction in digital problem-solving will generate peace of mind in the populace because it will instill people with the near certainty that their institutions are being honest, forthright, and civil.
Also read: Gold-Backed Cryptocurrencies: Innovative or Redundant?
Bitcoin transactions showcase two elegant traits: they are anonymous and transparent. This means a person can maintain their privacy; however, if they are part of a business and they need to be open about their actions, they can provide public information on the blockchain. This implies no more secrets from them. No more machinations. No more indecency. The public ledger of the blockchain tells all, especially if public interest dictates the desire for that knowledge, and those businesses want to likewise prove their trust.
Imagine a corrupt security firm or night-watchman government. The corruptions and evils of these agencies could easily be snuffed out by the protocols on the blockchain, because the protocols would act as guards against human error. In other words, the ugly portion of human behavior can be “controlled” without infringing on individual rights.
This is essentially a capitalistic fix. It creates a way for the market to regulate various organizations without resorting to anti-civilized barbarity. It is technological regulation. If people see an institution being nefarious or fraudulent via the blockchain, they can simply cease their business or boycott them. This occurs because the blockchain is an open source public ledger, which records all transactions in a transparent fashion.
This trait provides society with a kind of mass crypto-sovereignty. People can exercise total freedom, but maintain power over their economic and social interactions. It is a brilliant answer to the question of how society will run without the State, or how chaos can be mitigated in the absence of political control.
Blockchain solutions are the apotheosis of digitally impelled self-ownership, and there will not be anything to stop the momentum. Like Julie Tourianski said of Bitcoin, blockchain tech is “the ghost outside the machine.” It is the tool that annihilates the need for an overseer. It absolutely eliminates any incentive for control-freak personalities, because they can no longer thrive in the cryptoscopic environment.
Here are some examples of cryptoscopic transactions: the blockchain could be used to conduct audits without ever needing in a central planner. A business could handle this auditing process without having to engage in petty politics or deal with crippling bureaucracy. The tech could also allow people to agree on contracts, or sell titles and deeds, and share that information when necessary. Medical documentation could even be distributed safely. The options are legion.
These ideas, of course, are mostly speculative, but the answers are in the palm of humanity’s hand. The technology exists. All that is left is to instill that idea that crypto-sovereignty is an important step for society. People only have to take the initiative, and move towards fulfilling their digital dreams of security and safety.
What are some ways you think the blockchain can improve society? Let us know in the coments below!
The opinions expressed in this article are not necessarily those of Bitcoin.com.