Blockchain , a blessing or devil in disguise.

[ The previous article has been rewritten after closer study and advice.]

Internet changed the world. They say the same now on cryptocurrency and the blockchain. Cryptocurrency can not do without blockchain. But blockchain can.

Blockchain is in principle decentralized and open source. It is a new way of making and controlling a database. I have read several articles and books on the subject. One thing is sure. It is a hype at the moment. Just like the Bitcoin. A crypto currency.

Starting a crypto currency is like creating a new bank. But the blockchain can not yet handle the transactions fast enough like the current payment systems. So there is a challenge that people are already working on.

Privacy could be an issue. What are we going to store and use it for is the question. The whitepaper is the bible for that so to say. But that is made upfront , clear and transparant. If it is not in the favour of the user it will not have a momentum. Like f.e. Facebook “wrongly” did get.

Everybody can start and create a blockchain on whatever purpose. There are already a lot. A strong growth can be expected. Some have the same ideas and or business models. It might become chaotic. See for example all the apps you can dowload. It is not much more than a website but it holds memory and slows down your mobile phone. It could become a jungle where nobody can find its way. So there is compass needed and maybe regulations should be implement.

A new cryptocurrency can be hyped on the internet via trolls and fake news on social media. People step in and the creator steps out by cashing in and makes lots of money. There are not many rules to protect you yet. Only common sense can help you here. So there is a point to understand. There might be a devil in disguise.

Can we put everything in a blockchain. That is a nice question. Keep in mind that it is an database. And its virtual. A tree in nature grows according to a certain proces. That is not something we can capture exactly. An algorythm could capture most of it and with a smart contract and a blockchain trees and forests could take economically care of themselves. Their own identity so to say and generating value for them selves instead of being plundered by people. The value will be more than they need. If we do it for machines it is also for sure.

The value , or in other words money , that is being generated should be wisely used. As it is created by the commons it should be going back to the commons. The way to do that would be an Unconditional Basic Income. Also protections of the commons , so nature and environment , should be coming from this source. This would be the blessing I am referring to.

Also we could put the data from Facebook and Google into an blockchain owned by the users. The value of this data would be for the users instead of Marc Zuckerberg. Which data would be commercialized is something you can put upfront into a smartcontract.  Furthermore a blockchain is transparent and decentralized. If that is not the case it is not really a blockchain.

Governance is still in development but there a big steps being made. So DAO’s are in their momentum and emerging. DAO stands for Decentralized Autonomous Organizations. Bitcoin and Etherium are examples. AI can be added to DAO’s. Which means that Artificial Intelligence gets an ability to resources , via the DAO , so say.

Will the (AI) DAO’s create a commons from which everyone can prosper?This is very good possible. If goverments and politicians will fail to establish it right now via a social tax / value contract for companies and other value adding natural resources.  We will make the wings ourselves to share the blessings of nature so that everyone will prosper.

One thought on “Blockchain , a blessing or devil in disguise.

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