Bitcoin & Decred / Historical Documents of a Digital Financial Revolution
First off , let us define that anyone within the blockchain realm of recent years more than likely base their theorized assumptions that we are in a process of exiting a pragmatic driven financial legacy system of old, and entering into what most of us are defining as a “New Economy”. This New Economy is one that, in and of itself, is designed to eventually operate as a more functional/fluid way to create and define value, store sound money, and securely transfer that into wealth for a future that awaits.
Of course this is the intent.
As developers, miners, stakers, and believers of this New Economy, we are essentially the modern day digital revolutionaries willing to trek a frontier that is still undiscovered in financial, technological, security, and political terms.
Many have skin in the game. For some, a majority of skin. Many have mentally and emotionally set sail from a “homeland” of operating in the fiat capital mindset that has globally dominated the financial ether for well over centuries. Many are discovering the most sound form of money and value that humankind may have ever known and are willing to travel to whatever extent it may take to see its ultimate fruition. Some have existed here for almost a decade, laying the groundwork (whether known or unknown) for what has been undoubtedly ushering in the very Digital Financial Revolution that was predicted by Hayek as well as by Friedman .
BITCOIN/ Todays Declaration of Independence
Flashback to mid 17th Century.
British lower classes are having a rough time until the Industrial Revolution (1760) makes both production and freedom possible. A political clash also known as the American Revolution begins at this time. For the American Revolution, Life, Liberty, and Property become the three dominant foundations of the Declaration of Independence, a document which would serve as the polar opposite of what British rule was mandating— legalized plunder. The Brits were authoritarian tax driven, and thus countered what the Declaration of Independence stood for.
If you can possibly see where this is going, the British empire essentially was encompassing the same beastly nature of what todays modern financial legacy system is( a legalized plunder , through inflation, that takes/devalues property rights of the individual at the hand of the state). The Declaration of Independence was a hand coded stop to that days malicious frame of work. It subverted private property plunder and gave sound property rights back to the individual.
Altruistically, Bitcoin serves the same modern day purpose, digitally coded, with respects to property value and worth, for those who have chosen to embark and join the New Economy.
“Todays financial system is the British Empire. Satoshi Nakamoto acts as the original 13 colonies. Bitcoin is the coded version of the Declaration of Independence, a ledger that, with each block mined, is signed by miners, or todays modern day version of visionary founders.”
Its analogical reasoning albeit , but the validity behind the proximities of both historical narratives stand out through and through. Bitcoin is the defining ideal that the people can reference and claim “signifies the individuals right to break free from hardened inflationary driven financial systems.” It is a modern day declaration, it strives for individual financial independence. It was designed against every assertion of state driven monopolies, a la similar manner that the British monarchy faced at the proclomation of Colonials.
Both are conceptual, ones idealogue written on parchment and anothers written in C++. Both serve as free experiments against intolerable and absolutist centralized reaching authoritarian power. Both act as counters to violations in economic liberty. Todays financial system is the British Empire. Satoshi Nakamoto acts as the original 13 colonies. Bitcoin is the coded version of the Declaration of Independence, a ledger that, with each block mined, is signed by miners, or todays modern day version of visionary founders.
Decred / A Governance Needed
In hindsight, should Bitcoin serve as todays modern day financial Declaration of Independence, sound argument could lie that todays modern day version of The Constitution of 1789 would lie in that of yet another blockchain, Decred.
Just as a country needs a sound constitution set about for its people to provide governance , the blockchain ecosystem too needs a sound governance model for mandating hierarchy control and spreading it amongst end users, giving individuals rightful voice and decision making abilities. Akin to a modern day Constitution, Decred continues to lay the ground work to make this possible. Through its pro-individual stance, Decred has potential to re-route years of miscalculated blockchain governance decisions and protocols.
Diplomatic thesis could honestly describe Decred as an evolved operating form of the Constitution.
Constitution 2.0 if you will.
“A chameleon of a Constitution, ever evolving to function for the individual, as voted by the individual.”
While the Constitution of 1789 was governance driven by the vision of the founders, Decred functions as a governance model built on top of the vision of past participants, driven by the vision of current participants. In this matter, Decred more so acts as a modern day constitution with a continuous built in Bill of Rights as the underlying mainframe. A chameleon of a Constitution, ever evolving to function for the individual, as voted by the individual.
Ultimately, just as the United States Constitution represented a national frame of government for a forming group of colonizers, Decred acts in similar manner by delineating a decentralized frame of government for a forming group of financial advocates opting into its system.
Just as the Constitution compliments the Declaration of Independence , Decred compliments Bitcoin and vice versa.
Both serve operatively in their own functioning rights.
One as a declaration of freedom, the other as a statute of decentralized governance stack grounded in democracy driven individual initiative.
One preparing the future of money. Another preparing the future of governance. Both of which go hand in operative hand.
*It should be noted the author holds both Bitcoin and Decred. The previous written material is not offered as financial advice, but rather as blockchain philosophy and money theory.