The Blockchain is a sophisticated variant of distributed databases; Like any other technology, it is neither good nor bad on its own.
Bitcoin is the first distributed database with cryptography whose purpose is to be a:
"... purely electronic version of cash would allow online payments to be sent directly from one entity to another without having to go through a financial institution."
Source: Taken from the abstract of the Bitcoin white paper by Satoshi Nakamoto
The Bitcoin strategy is to do without the intermediary, that is, the financial institution.
So I was not surprised when I recently learned of the message recorded in the first bitcoin block (Genesis), which refers to the financial crisis of 2008.
After six days (mined), Block 0 or Genesis, Nakamoto, issued the founding block on January 3, 2009, with 50 bitcoin and the following message, "The Times Jan / 03/2009 Chancellor on the verge of second bailout for banks."
Source: Screenshot of https://explorer.bitcoin.com/bch/block/000000000019d6689c085ae165831e934ff763ae46a2a6c172b3f1b60a8ce26f
There was no clarification on the part of Nakamoto, but I think you will infer, like me, the intention of linking the State with those who caused the financial crisis.
Why did the State rescue the banks while people lost their homes?
Some countries even used pension funds to rescue banks from bankruptcy in the 2008 real estate crisis.
Is the objective of the State to protect the citizen?
Well! Perhaps with the passing of the centuries, it lost that purpose, and now it only favors the interests of the elites.
Before, when I heard the word elite, I thought of a select group made up of the best of society; Competent and honest people who take care of others. I was very idealistic back then!
I wonder, how true is this premise?
Are the earth's resources so scarce to satisfy the needs of men?
History is full of war and desolation. So, in every age, the select group of capable and honest men failed to keep the peace.
It seems that the war campaigns of conquests only seek to impose taxes on the weak to sustain the affluent life of a group of society.
Source: Image of Annette Jones on Pixabay
Some claim that war is the engine of innovation and the development of civilization. Without the war, the man would still be in the cave.
Well! I don't know if they are right. I do know that war causes death and suffering. People who fight without knowing why. Only out of fear and because of the obligation to defend the very State that oppresses it.
I wonder, can the Blockchain change the world?
You will say with good reason, "Don't be naive. The world is at war from the beginning!"
I have no objection. The news is against it.
Although, as a believer in the Christian Jewish scriptures, I can object that it was not always this way and engage in a Byzantine discussion between science and religion.
By the way, in my opinion, I see no difference between science and religion. So it is better to avoid an argument in this sense, a war of ideas that can cause death and destruction among brothers.
Change in the world must start with yourself.
Perhaps a similar thought encouraged Satoshi Nakamoto or the team to create Bitcoin at that time in history.
You cannot deny the impact that Bitcoin is beginning to have on the economy. A rebellion of nerds and mathematical geniuses who seek to restrict human irrationality through sophisticated algorithms.
Now, remember that I started the article with the claim of technology neutrality. It is the man who determines the good or bad use of it.
In my opinion, Bitcoin was born with the potential to eradicate the arbitrariness and abuse of intermediaries in e-commerce; an evolution of money, the artificial medium that makes possible the material ends of humans.
I can't imagine a world without money.
Society is interconnected like never before by information technology by a growing flow of data behind the generation of goods and services, supported by increasingly automated logistics.
With the emergence of cryptocurrency, the elites need to take control of it. They are not willing to give up power so easily. So, they will have no scruples to use the technologies according to their interests.
On the other hand, for the first time, the developers and programmers of the new system, as long as they do not allow themselves to be bought, can achieve the utopia of an authentic government of the people.
For example, Bitcoin Cash fits perfectly into public management without the need for a central entity or associated banking under well-designed smart contracts at the service of the people. Imagine, see the physical-financial execution of public works available to everyone in real-time.
Meanwhile, people use other private, totally anonymous Blockchains for the productive and commercial activity of society. In addition, it is the people who determine the costs and financing of public management, and not that an unscrupulous bureaucrat imposes a type of tax on them.
Prevent the State from using Blockchain technology applications for centralized control of all human activity.
On the contrary, the applications of Blockchain technology should converge to empower people by allowing them to monitor the transparent performance of governments in such a way as to correct any failure they commit.
Promote a system that guarantees the interests of the majority and not as it is now. Rulers, supposedly elected, lord it over their constituents.
Although this is still a long way from achieving this; It is not unreasonable to achieve it; the technology aims at it. Of course, a lot of awareness and education is necessary to exercise responsible, effective, and timely control of government management.
A serious problem remains, how to control the monopoly of violence?
Yes, it is important because whoever has control of the weapons could subdue the people against their will. Although also, the option of rebellion remains open.
The utopia of a better world through recent Blockchain technology. A dream that I would like to come true.
Source: Image by Jude Joshua on Pixabay
An original article by @Jnavedan
Cover image by Marc Hatot on Pixabay
It has a potential and I am looking forward for a future with cashless transactions. 😳