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Quote from: Siddhartha7 on August 23, 2018, 10:13:12 PM

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My personal opinion is in the long term, blockchain technology has far reaching implications and ultimately enslave us to an immutable decentralised ledger, which also destroys sovereignty of nations if we go down the route of a world decentralised currency. I think immutable information maintains the status quo of the rich always being rich and the poor always being poor and the blockchain facilitates a way to snapshot that monetary construct in a way which we can never take back. Just think of how we forced the kings to sign the Magna Carta, this won't be possible once we have people in power with technology which is immutable. BTW I'm a Ted Kaczynski supporter who believes he was ahead of his time. It's just his methods of how he went about his actions hurt a lot of people. There is a reason why books like The Technological Society by Jacques Ellul are banned books, or put you on a government watchlist if you purchase them on Amazon.

Interesting on the banned books, I wasn't aware of this. No doubt that this disrupting technology will make a change. But to counter you, do you think that crypto is really breaking the system of Rich always being rich and Poor always being poor? If so, how?

Appreciate your response and thinking!

Unfortunately I don't think crypto will break the existing situation of the rich being rich and the poor being poor. its only my opinion but I fear that although we need to move towards trust-less, immutable ledgers. As this technology matures and combines with other forms of technology AI / Deep Learning we will see lot of middle class jobs accountants, office clerks, project managers, lawyers (smart legally binding contracts will replace them) logistic specialists, will all disappear. The ruling class will be the people who have the financial power and clout to integrate such systems and this will bring an even bigger divide between the rich and the poor. I think there will be a dark future in the implementation of blockchain. Unfortunately.

That's an interesting point you make. Technology will, inevitably, replace middle class jobs. Blockchain or decentralization might not be able to prevent that sadly enough.

I believe in the benefits (as mentioned) in the area of charity, elections, general monetary and data-related transactions/communication and preventing inflation. The downside of the automatization needs to be handled by us, not by technologies. A reduction in working hours or an unconditional income is inevitable, since many jobs will be replaced by technology and robots. I hope that the people engineering future systems (such as whole governments over blockchain), remain true to themselves and design solutions, which fight greed, injustice and inequality and give back the power to the people.

I think the authoritarian system isn't one that just "gives" to the people. I'm glad to see blockchain is actually something which they couldn't avoid from growing and it's something which forces them to see power being taken by "the people".