Ever got anxious while doing online shopping, using your credit card, when it takes a little too long to process your transaction? Ever run pillar to post, just to get funds transferred before the bank closes it’s gates on you after 3 P.M.? Have you ever wondered whether your ‘private’ KYC form information is actually private?
Well, you have, and ‘why?’ because you TRUST the system. But do you know what this trust is collateralised with? The answer to that is (drumroll please!) NOTHING.
Let’s do an experiment together, I want you to take a currency note and read through, mine says “Guaranteed by the Central Govt.” So, basically the value of Rs. 500 is guaranteed by the government, but what if this piece of paper one day holds no value? Am I being compensated with anything from the government? No, I am not. Can it ever happen that this note holds little to no value? Yes, with the blink of an eye.
Let me stop bombarding you with questions, raising your eyebrows every other line, and start with the lucid part of the blog :)
We, from the times of the kings & queens to sovereign & democratic governments, live in a centralised network. The power to control, censor, surveil over, lies in the hands of a few central entities. We are, simply put in a clique, the ‘slaves of the system’.
As an ever-evolving species we should move toward a society where each and every human has the same and equal power and voice.
We should migrate from a centralised network to a decentralised network.
How you ask? Using technology and innovation, more specifically, ‘Blockchain technology’.
In the following series of articles I have tried to explain the beauty and need of the blockchain technology to lead us as a civilisation, to a more just, equitable and neutral socio-economic world.
To know more about ‘blockchain technology’ visit my article by clicking here.