One of my favorite YouTube videos on cryptocurrencies is a speech by Andreas Antonopoulos about Blockchain vs. Bitcoin. I’ve watched it so many times and every time I do, I’m in awe of how powerful a speaker Andreas is. It reminds me of why I first was attracted to cryptocurrencies and more importantly, of how much more there is to the story than dreams of Lambo.
The continuing bearish trend and the now almost 70% drop from Bitcoin’s all time high price in December 2017, have left a lot of late buyers disillusioned and kept many potential adopters away. Despite that, new people flood into the market everyday, and crypto-friendly platforms remain as active as ever. I understand that I can only speak for myself, but I’m also confident from conversations I’ve had in the space, many of which with people who are now my close friends, when I say that we are not only in it for the gainzz, although that is in no doubt part of it. Scratch below the surface of any crypto community and you quickly find that for most, dreams of crypto-success and wealth are at the essence, dreams of eluding the unfair structures of centralized authority and centralized financial and information control.
Take a moment to look around you. The world is ripe with quasi autocrats that reduce the value of our voices by appealing to irrationality and to fear of the other, scapegoating to cover for their own indiscretions. It is ripe with big banks and financial systems that dilute our purchasing power to the benefit of the few who perpetuate the illusion of competitive markets, equal opportunity, and labor mobility, while those with financial means and legislative reach, evade taxes that could otherwise be used to fund the tools that are needed to promote equal opportunities. We live in a world where big corporations and big media steal our data, abuse our privacy, and manipulate our insecurities with fake information to reinforce the prevalence of counterproductive rhetoric and echo-chambers, customized to push dubious products, agendas, and beliefs.
It doesn’t take an idealist to retain the human aptitude for fairness. Fairness is not a social construct; it is an innate drive that even mammals observe. One that is lost with fear of the unknown, the need to make ends meet, and the need to fit in. In our centralized world, decision makers understand that whomever controls the collective perception of those fears, can derive maximum personal benefit. Unfortunately, that too is an innate human drive. However, it is a drive that fails to materialize when the few are no longer in control and the many get to collectively decide without the influence of asymmetric information.
This is not a conspiracy theory. It is not an implication that everyone in power is out to get the rest of us. It is only the current state of the system’s evolution, and it has left us with many loopholes that encourage fraud and reward inefficiencies. It is exactly where an impartial decentralized system is needed.
Decentralization of authority is a chance to turn “leaders” into the public servants that they are meant to be by upholding the power of transparency, accountability, and the integrity of every participant’s vote while retaining the right to privacy. Decentralization of financial control is the collective capacity to decide the value of a currency by choice of adoption, rather than the backing of monopolized power that is rarely if ever free from vested interests. Decentralization of information is the ability to break from the influence of selective dissemination of information and from emotional manipulation. It is the power that was unleashed by cryptocurrencies on a financial structure that continues to try and discredit it for fear of extinction. It is a power that is slowly gaining traction in politics, public policy, logistics, aid, media, and art.
Decentralized cryptocurrencies are still warming up at the start line. Join us in creating a fairer world; getting rekt a few times is only a small price to pay.
Disclaimer: The views expressed here only represent the opinion of the author and are not investment advice.
writer credit: Banky Moon