The untold apocalyptic blockchain narrative
When I started my journey in the crypto space, I had the understanding that this technology would save me from the doom and destruction forecasted by economists for ages regarding the current financial system. I had started to ask myself questions regarding the current financial system, how it works, how banks operate, their relation to the people, and what inflation is. Slowly but surely, my understanding increased, and I saw that I wanted to protect my money (the little I had) by changing them to tangible assets or cryptocurrencies, which theoretically cannot be inflated and lose its value simply by an increased supply coming into the market.
I understood that technology would only play a more important role in the near future. That technology is evolving specifically to solve problems. That cryptocurrency, as an innovative technology, could restructure society and opt-out the traditional system, specifically banks. This all is made possible by the advent of cryptocurrencies.
Central banks have been the one’s authorities handling the money of the people. There exist banks that are private and work specifically almost as an enterprise to make money out of money. These enterprises basically grow rich and powerful by the debt of human beings. There also exist central banks, which are the authorities that handle, print, and issue fiat currencies. Fiat currencies are the national currency of a specific countries. Countries have cities to feed, people, armies, and specifically their own interests to protect. All of these aspects are united largely around a constitution and the fiat currency which binds institutions together. It connects the people together, is used as means of paying the people for work, and it has armies that protects it. The fiat currency is usually a representation of the nation’s economy in relation to other nations.
What we have seen in history is that nations do all kinds of despicable actions. If it’s purely imperialism, colonialism, to protect their interests, increase their value, and prey on other weak nations, it’s all about making themselves grow stronger. The perpetrators of imperialism and colonialism have worked hand in hand with authorities of monetary systems, meaning banks.
The nation and its people do benefit from colonialism at the expense of another nation and whether this can be morally justified is to be questioned.
In more modern times, colonialism and imperialism have been developing into extreme forms of international cross-border capitalism. And in this free market of opportunities and few rules, the banks roam free to continue exploiting the people based on their goal to earn increasingly. For it is said in the books of Solomon (pbuh): «The borrower is the slave to the lender, » and the modern-day financial system has made us all slaves in debt to the banks. While they earn on unjust trade.
In fact, once upon a time, currency and what we perceived as money was tangible assets like gold and silver coins. Whether or not fiat is tangible anymore can be discussed because the supply of a fiat currency has become numbers on a screen.
«As needs changed, precious metals such as gold and silver became the mode of exchange before we finally transitioned to fiat money (fun fact: the word fiat derives from Latin which means “let it be done”). Fiat used to be backed by precious metals but it was later decoupled as precious metals were unsustainable to maintain for fast-growing economies. The use of fiat money proved that value is truly created by people’s perceptions and beliefs of its worth.”
Fiat not backed by gold is not backed by anything. History shows it becomes inflationary, and its value deteriorates over time. The truth about the modern fiat system is that it is a system in control at the hands of few, who decide matters without people able to express their opinion or be included in decision making. They work based on a fiscal, monetary policy that is supposed to benefit the state. The state should represent the people and in turn benefit them, but it does not. This is where the problem lies….
That the state becomes corrupt and that the people in governments become docile to the eminent corruption which lies therein.
At the height of the 2008 financial crisis, an internet pseudonym named Satoshi Nakamoto appeared online as the inventor of the cryptographic Bitcoin and released the Bitcoin whitepaper. The invention of Blockchain technology was an answer to the financial crash, which had been foreseen for a long due to unstable monetary policies and activities. Appearing as a knight in shining armor when the world needed it the most.
Fundamentally, Satoshi (whoever that, he is or them are) knew that his invention could and was going to change the world. Restructuring the way transactions are done online, removing middlemen (banks). For the first time, transactions between two parties were peer-to-peer and recorded on a public distributed ledger. The history of transactions and activities is recorded down in a block which is added to the chain connecting blocks together after a specific size limit is reached. In turn, the history is continuously downloaded by all node participants making it immutable, unable to be changed, and hacked (except for 51% attack).
This autonomous system operates by itself, cannot be shut down, and has no single point of failure. This system doesn’t have directors, CEOs, leaders, or companies that can directly control it. It is decentralized. Thus, it is an autonomous system that can neither theoretically be stopped by governments (kind of). This makes the blockchain fundamentally important and relevant forever until Internet is no more.
Fourteen years after the bitcoin's whitepaper was released, the internet is getting restructured into layers all connected to different blockchains. Part of this new internet is deemed as «Web3» and revolves around decentralized applications built on seemingly decentralized blockchains. Although it uses «Web2» aspects which is the structure of the internet, web pages and the «traditional» infrastructure. New terms like “DeFi”, “DAO” and “DEX” have become game changer in the crypto space, which has developed into a huge market of cryptocurrency innovation.
From shitcoins with no use case, real problem-solving cryptos, cryptos seeking to revolutionize different markets, privacy coins and so much more. The space has developed into a sea of projects which seek to replace the old with the new and it goes under the guise of equality, better, fairer, decentralized, egalitarian, faster, cheaper and all these marketing buzzwords which make us believe we are a part of something huge. A part of a huge shift to a utopia.
Although these buzzwords have truth in them, there is a lot about the whole crypto mania, which is not as golden as it seems…
There is no doubt that blockchain technology is a new and important invention for the future internet. But now, although 14 years after blockchain first came to light, it is still in a developing and experimental phase. The space is driven a lot by ideologically eager and overly convinced people. It is a space where users invest in their opinions and become increasingly attached to them. We don’t know who Satoshi is and it could very well be a CIA invention to disrupt nation-states, weaken government’s power and introduce digital currencies (or a one-world digital currency) which will be embraced by the people. If this is the case, then the real reason they created Bitcoin and Blockchain technology, letting it rise forth, is because of what comes after it.
Decentralized blockchains, by their very nature, are far from democratic. Blockchains that use proof-of-work consensus systems, for example, allow those with a lot of hardware to have a lot more votes than everyone else. Proof-of-stake consensus systems provide individuals with a lot of money and more votes than the majority. Blockchains are only specified to permit changes by network based on the amount of hardware or money the participant’s control. Because the blockchain’s consensus algorithm has no way of knowing or verifying who is committing to a change, a result is that tiny groups of people with a lot of voting power, such as those who possess a lot of hardware or money, can easily take control of such a system.
If you want an anonymous oligarchy, decentralized systems are the way to go. It makes no difference what system you design; no decentralized system can ever be democratic unless it enables equal votes, which it can’t accomplish without verifying that each voter’s identity is unique. It’s nearly impossible as of yet, to achieve it without a centralized authority.
The Blockchains is introduced as something that liberates you from praying authorities. In truth, instead of becoming something that liberates you, it can become something that enchains you. Your entire life, savings, funds, social presence, and access to society could all be connected to one blockchain, which you cannot escape from. A society where all things are connected to the chain and in turn, connected to the internet. The internet of things.
One comes to see that blockchain tech, cryptocurrencies, and Web3 is driven a lot by a capitalistic, egocentric and a money-hungry mentality. At the same time, there is a fundamental ideology that underlines blockchain and cryptocurrencies. You need to understand that most real innovations within the cryptocurrency space and projects being built all around the world are not innovations that are built primarily for fun. It is an actual real attempt to build new economic and societal infrastructures. These economic and societal infrastructures all have the same premises and or ideological foundation, and that is:
«Technology can solve all problems. » Or «Technology can solve society’s problems».
This ideology is called technocracy.
«A technocracy is a model of governance wherein decision-makers are chosen for office based on their technical expertise and background. A technocracy differs from a traditional democracy in that individuals selected to a leadership role are chosen through a process that emphasizes their relevant skills and proven performance, as opposed to whether or not they fit the majority interests of a popular vote.»
Definition of Technocracy:
«Management of society by technical experts»
These technical experts would off course, through their years of education and ideological persuasion be biased in their critical thinking. They would not be able to see the flaws in their own designs, the effects on regular people, and over-valuate their judgement based on their unique expertise.
In a technocratic society, we would be ruled by the people who create the algorithms. By the people who build the software, the applications, those that run the data and operating systems. These «technical experts» ruling in a technocracy would have their ideologies enforced on the population even if the people doesn’t want it. Even if the technical experts didn’t intend to enforce their ideology. In that, a technocratic society would not be far away from authoritarianism. Since the technical experts ruling a technocracy would have to have technology in use to govern the public and its affairs, this technology will not be objective in itself. It is built-in support of certain principles. It is built with an intended purpose. Neither would a technocracy be democratic, for even if the public could vote on certain things, they would never be able to decide matters of importance. Or matters which would oppose the technical elite and its ideology. The technical experts, if not becoming part of the elite themselves, would certainly be hired by the elite as they are aware of its potential for further control.
There are two narratives for the new digital future. The first: Open source and decentralized technology which is people-driven, enriching anyone and giving opportunitets to everyone without giving certain entities special powers. The second: Central Bank Digital Surveillance technology with limited rights to users except participation according to rules and regulations set in place by the increasingly ego-centric, power hungry and ideological convinced Digital Central Bank(s) in hand with corporations.
All of it off course supervised by global entities like the WEF or UN.
Whatever you may call it, it would mean that the system has turned into (if it wasn’t that all along), corporatism. Corporatism is neither far away from fascism, for Benito Mussolini, the father of fascism, said that fascism is the merger of state (union of banks with common cultural heritage and corporate power. If the corporations were to merge their incentives and ideology with authority over them, it would, in turn, entail that it has become fascistic.
The dream of decentralization is a world where rights cannot be taken away from the people and structures are not dependent on a ruling class/group. When one intends to take the old structures from the governing ruling group away by building new ones, this new one will be governed and managed by a new group. Even if the structures are inherently different, the same problems could occur, nature repeats itself…
Want to solve a problem? Solve it, and a new problem will arise. Every time someone comes along with a revolutionary idea to change your state of miserliness to utopia, humans will, no matter what, fall for it. For any revolution to be realized, one needs to want to change how the world operates. Changing how the world operates is almost impossible since the underlying principles can never change. It is going against nature itself, human nature. For humans are not fungi; each one of us has a mind of our own where we derive our own thoughts. Neither would we like other to have an insight into our minds and that which goes on there.
Since decentralized systems are operated by humans, they can be subjected to the same failures any regular system will be subject too. Most decentralized projects admit they are not at the stage of full decentralization yet but will be there in the future according to a specific plan (so they say). It’s like the theory of Communism or Socialism. Something which promises you a utopian egalitarian new society that will give everyone what they need. Never does it become like that… For communism also has a ruling class, and here it is argued that it is only required in the start for the society to get to the level of self-sufficiency. Never does it come to that, and always does it crumble before that happens.
This new utopian egalitarian society may not be as it seems. Although these buzzwords will stay there, attempting to convince you of a theoretical reality, it may not be like this in reality…
IOT (Internet of Things) is about putting all real-world assets and connecting them to an online network, for example, to a blockchain. From food, identity certificates, money, clothing, and technological hardware… Through QR codes, scanning, analysis, tracking, verifying, updating, and recording information, it is about creating a digital future. It’s even about putting you yourself and connecting you to this network. This is not about technological innovation anymore. It’s about ideologies like transhumanism and technocracy. About whether you chose this world or the next.
Blockchain is a powerful technology, not because of the technology itself, but because of the ideologies that surround it. It certainly has the potential to disrupt the current corrupt authorities and authoritarian regimes by removing them from equation. However, if they aren't removed, they will be become all powerful and if they are removed, they will fight it with all they got, attempting to take over. Thus, no matter what happens they will likely succeed by using force and after that, the world will most certainly never look the same.
Everything may actually be going according to their plans. They want to make you think that the future has an infinite road ahead and that there are no limits to human achievements. That is a lie. For this premise to take place, god cannot exist as he does according to the Abrahamic religions. Since he does exist, he will not let it happen. He will not let the world be changed into something un-organic, unnatural, soulless, and deceptive. He will not let humanity become enslaved to evil, even though they are in many ways wishing for it themselves.
Whatever the future digital crypto infrastructure will look like, it will certainly not be as the utopian vision we imagined. It can and will likely turn into the exact opposite. A technocratic, digitally authoritarian and corpocratic prison we ourselves made into reality.
Prophetic history usually repeats itself. The prophets (pbuh) come to preach the message, warn evil elites of their actions, and inviting them to worship the one God only, avoiding satan. They tell them that their actions are immoral and that they should stop doing what they are doing. What follows is ignorance, pride, and continuous evil. They never liked what these men of truth said and ended up persecuting them. For in the chain of prophets, many became martyrs. This was because the leaders which led the people were corrupt, and this made the people corrupt as well. History repeats itself, and it will repeat itself one more time. But this time will be a final end.