Is blockchain a technology of freedom or subjugation?
What does decentralization — a defining feature of blockchain — mean?
What is being decentralized? Trust is decentralized.
From now on, financial centers — banks and governments — are relieved of the responsibility, which has been shouldered by users.
Safety of keys, correctness of transactions, mistakes — all of these is your responsibility. This is blockchain’s main revolutionary principle.
This principle of direct personal responsibility has obvious benefits: you cannot fall victim to an unscrupulous financial policy, economic games, and other factors that you cannot control.
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It also grants responsibility and freedom from side control to you when blockchain is used in other fields, such as elections. Censorship and unscrupulous schemes are technically impossible with blockchain.
The Internet era has enabled people to communicate and exchange information freely.
The upcoming blockchain era can provide people with personal responsibility in the main fields of public life.
However, as it often happens with all new technologies having a powerful transformative potential, blockchain is used for the development of both horizontal and vertical linkages.
So, the government of China has recognized the advantages of blockchain and is going to launch a national currency based on it. However, it seems that China is going to use the unforgeable structure of blockchain for quite a particular purpose — to enhance oversight and control over people.
This Chinese-style blockchain is rather a pseudoblockchain since its usage contradicts to initial concept of genuine blockchain.
This variability makes us question the essence of blockchain and its usage again: whether it will be used to make lives of millions of people more secure, convenient, and transparent or it is governments who will benefit the most from the new technology and will manage to shackle entire nations with blockchains?
These questions will not be answered immediately; the ways to use the technology are developing along with the technology of “equal responsibility global control” itself.
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