Post
Topic
Board Economics
Re: Do we need blockchain technology?
by
ananasMarco
on 05/09/2017, 01:38:27 UTC
My personal perspective is that the value of blockchain technology introduced by Bitcoin is more of a conceptual one. The idea that we can decentralize the process of governance and consensus, and in that process value is created, which then can be distributed. It's quite interesting, because the cryptographic nature by design introduces a form of scarcity and security. Approaches like Iota's 'tangle', and some lesser known approaches such as the Holochain that don't store the full ledger at every node, are all essentially the same in achieving some form of decentralized governance, consensus, and value.
 
I think this is the real value, and the reason why the answer is a resounding *yes* to the question of whether we need blockchain technology.
Consensus, governance, and value, are all crucial parts to various kinds of systems, the degree to which still is unexplored.
 
You might have heard the phrase 'token economy' floating around, which encapsulates this.
 
The thing is, our world is really goddamn complex, and as certain systems and services grow in number and complexity, centralization becomes increasingly problematic. Take the government for example. The government is responsible for such a wide array of things, with so ridiculously many people depending on the adequate execution of their responsibilities, and the drawbacks of centralization become clear. The smaller the governing system and the larger/complex the system to be governed, the more difficult it is to achieve adequate control - it's just a mathematical constraint.
 
We depend on services and tools to deal with our increasingly complex environment, but what about the other way around? I know it sounds a bit fight-club esque, but our relation with our environment is more often than not out of balance. You may use facebook, but facebook uses you as well. Whether the relationship is fair, I'm not sure of, but that facebook doesn't care much, I am pretty sure of.

On a more positive note, I do believe we are in a transitionary phase of deconstruction.  A deconstruction of the services we need, and the tools available to fulfill these needs in a manner that gives the users more control, by decentralizing governance, and removing a need for trust from some central institution. We're just still learning the possibilities available with this new technology, which is going to become increasingly clear and exciting when we're going to get past this money-grabbing phase as reflected by unethical ICOs and shitcoins.