I’d have never peeked so deeply into cryptocurrency lore..
..if it wasn’t for this guy
visiting my country. I am now “enlightened”. Spoiler:
Blockchain protocols computationally
formalize/describe a
government’s high power
restraints within democracy. In civics (social studies), democracy is
decentralized power (no/many kings) and therefore implicitly inefficient.
Democratic governments (in perfect world) communicate/act/bank;
- In public (freedom of information)
- With immutability (no deleting things)
- With consensus (majority vote)
- With inefficiency (to weaken bad actors)
Citizens and other low power (centralized) entities can do
some
of the above (federation), but mostly (wisely) communicate/act/bank;
- In private (freedom of association)
- With mutability (to protect privacy)
- Without consensus (freedom of expression)
- With efficiency (to build–up fast actors)
Individually, (5-8 > 1-4) no? But (1-4 > 5-8) in dictatorships
(5-8)?
Blockchain governments for maximal oversight? Not happening :)
#coins
#lists