Technology continues to evolve at a very rapid pace. In effect, there are countless means of living that sprout here and there. Such an occurrence of new ways of how things are dealt with does not seem to end.
Because it is a reality that we citizens of the digital age must deal with, rules and policies must be constantly revised and updated as well so that peace and order can still be maintained. Without such rules, human life as we know it would be very chaotic and unorganized, which will result in a world that is very hard to manage and govern.
AI should be present beforehand
Because technology has been so good in making our lives better, some radical ideas are being introduced into areas in which technology does not seem to be applicable at all. For instance, there are suggestions that are circulating now that computer programs should be utilized as a replacement for some human services.
Experts claim that because computers are not subject to fatigue and exhaustion the way we humans are, they have no chance of displaying irrational behavior or making the wrong decisions. Such a field of undertaking is called Artificial Intelligence (AI). For the time being, however, such systems are nowhere near as efficient as humans in analyzing or making smart choices.
But there are certain technologies though that can be employed to make human tasks such as checking, verifying, monitoring huge amounts of data so efficiently that tampering with such data would be next to impossible. In the field of computing today, there is a technology called Blockchain that computer scientists believe to be the most important piece of digital technology ever invented.
How Blockchain can re-shape the government
How Blockchain systems operate can be summed up as a set of computers grouped together in a single network, holding database files that everyone can view anytime anywhere. The main concept of Blockchains is that they are decentralized – there is no central governing authority that can be considered to be above the other computers within the network.
What makes them so secure is that everyone can watch over the activities of everyone else. So when a transaction takes place, it can be verified or declares as valid by other participants within the network. While such a concept quickly sparks debates regarding privacy issues, it can also be a means of implementing a foolproof system where deception and corruption are kept very minimal.
So how can Blockchains be used in politics and governance? The applications for such a piece of technology can be actually limitless, for this discussion, however, let us just focus on a few. One of the best aspects of the law where blockchains can be applied is notarization and copyrighting. For instance, if a songwriter will upload his song in a Blockchain, the digital signature of that song will be engraved there forever.
Upon the uploading process, a unique identifier for that song will be recorded in the Blockchain database. The identifier or digital signature of that song will be replicated and be passed on to other participants of the network as well. So when someone tries to change a single copy of the signature of the song, the other copyholders will deem it as invalid because it does not match with the other copies within the network. Such is the beauty and brilliance behind decentralization.
Money is digitized now, the government should adopt to this massive change.
Blockchains are also very applicable in other areas most notably in cryptocurrency or simply stated, the newest form of money today. Also known as digital cash, the likes of Bitcoin, Ethereum and Ripple are now taking the financial world by storm. So many young investors, as well as seasoned elderly businessmen, are taking huge revenues for years already due to their cryptocurrency investments.
Because Bitcoin and its counterparts are not dependent on physical resources like gold or petroleum, and due to the fact that they are hosted within decentralized digital machines, no governing body can manipulate the ebbs and flows that happen within it. It goes to show that a society or a country that puts its trust in Blockchain technology can have a better flow of its financial undertakings, a much cleaner and more accurate electoral activities, and a much more improved overall economy.
Statistically speaking, any entity that utilizes Blockchains can be very profitable indeed. It is a known fact that since Bitcoin emerged in 2009, its value has skyrocketed from just a few dollars to around $50,000 these days per single coin. The rate by which Bitcoin continues to grow is very exponential that by 2030, the value of the most popular cryptocurrency would reach $500,000.
Blockchains are not perfect, there will always be threats
But like any man-made system, Blockchain still has its own set of downsides and limitations. The most notable one is known as the “51% Attack.” The idea behind such a threat is that when there are more than half of the participants of the network that would join forces to orchestrate a hacking spree to the Blockchain, the chances of them penetrating through the otherwise impregnable system is very, very high.
However, such a scenario would not be a realistic thing to even visualize because it is simply very unlikely to happen. It is because that 51% of participants must be proficient hackers or computer programmers to fully function with their act of sabotage. Since computer programming is one of the most difficult things to learn about in the field of computers only very few individuals are able to learn it, making the possibility of gathering a huge number of hackers next to impossible.
To sum it all up, it should be acknowledged that Blockchains can indeed be a great tool in bringing about a kind of society that’s safe, secure, and very profitable at the same time.
Just done writing an article bout crypto and phil govnt 😅