Cryptos will never set us free!
We need a new view of growth. Our global society is an echo. The social structures we use failed to grow with technology – and violence is used to maintain centralized power.
Not long ago – the USA used central planning as an example of how poorly communism worked. It was propaganda – but it was also correct.
Blockchain and crypto can empower decentralization. One could argue that Bitcoin was launched to make monetary decentralization possible.
Today – the flagship crypto is an asset used for financial speculation. Very few actually use Bitcoin as a decentralized currency.
None of these ideas are new.
What we need now – if we want to foster decentralization – is a new view of what society could be – and ideas on how to get there.
Beware Utopia
There are people who think that honest money will make a society better. Unfortunately, this is delusional. We had a global gold standard for hundreds of years before central banks took over – and it was a wild time.
Wars, colonialism, slavery, and genocide all happened when we used honest gold and silver – so saying the monetary system is the problem is pretty naïve.
What we are dealing with goes deeper into the human psyche. As humans we create amazing technology – but we don’t develop a moral framework to manage how we use these tools.
In addition, we use the idea of ‘sacrifice for a better future’ to justify horrors we create. Of late, we’ve been warning about the dangers of blockchain and big data. It is a real problem. The question of why is an old issue humans have – one that cuts to the root of out collective existence.
Humans understand that a better world is possible – especially with the technology we have today.
The hard part is how we get to that better world.
Heaven and Hell
As we predicted in the early days of mass crypto awareness – blockchain hit the big time.
The WEF saw it coming too:
World Economic Forum (WEF) Cites Blockchain as Transformative Technology
The WEF is a heap of power-mad technocrats – and they understand the power of data in our modern world. Everywhere you look – data is being collected. Person using a smartphone – data. Order a burger at a restaurant – data. Spend with a cash app – data.
We live in data heaven!
But as we see in China – all that data can be used to create a totalitarian hell.
The issue is one of values. As we create ever more powerful technology – we ignore human compassion. The focus is placed on growth and profit, with the humans in the human economy falling by the wayside.
Look at the homelessness and hopelessness in the USA as an example. Look at the extreme poverty around the world as another example. We aren’t here to bum you out – but it isn’t hard to find people that are overlooked by our global society.
Heaven for a few, hell for many more. Technology alone isn’t going to make this world a better place.
The Value of Violence
Decentralization could create value for humanity on a wider scale – but it must be coupled with a new view towards how we use violence. You might be thinking about a fight at a pub when we write the word violence.
Not so!
Society grows from a base of violence.
A failed state lost control of violence within its borders. We don’t think about it as violence (or implied violence – like a line of riot police) is a part of our societies. Just the way it is. Humans are violent apes.
So we need to consider how a decentralized social group would grow from a base of violence (you can call it security or defense if you like) across national borders. Nations will use outlandish repression until they fail – just ask Bashar al-Assad or Muammar Gaddafi.
If you think Syria or Libya still exist – book a vacation and send us pics!
The Right Size…
There is a good chance that modern nations are way too big.
Centralized societies don’t reward individuality. In smaller democratic nations – people have a bigger voice. We may consider how decentralization could foster smaller political entities that allow people to live in ways they find more fulfilling.
The United States is a prime example of a political system that is far too large for its population. It’s easy to see that major political divisions are engendering a situation that benefits no one. With smaller political systems – this situation could be avoided.
The path forward for decentralization isn’t clear because it runs contrary to the past 500 years of social trends. However, if we want a more peaceful world – we need different social arrangements.
Let’s Be Realistic
Most of the solutions pitched by the power structure won’t break the mold we live in. There is a great reason for this. The people in power would lose most of what they have if we used a social structure that favored equality over profit.
People prattle on about capitalism, socialism and communism – but it’s all hot air. Companies matter – and the responsibility to create profits at the expense of anything else is the root of our current global social dilemma.
Of course – we looooove profits. We like to live a comfortable life. Toys too – we love toys too. But when this love of profit is applied at-scale – some big problems emerge.
At the moment the top 10% of the global population controls an outlandish amount of assets – while the bottom 50% has little to nothing. Even in “developed” economies like the USA – many can’t muster $1,000 for an emergency.
Blockchain and cryptocurrencies are amazing. We love them both. But to make this world a more equitable place – we need better morals – not better political dogma.
Bitcoin Was A Good Start
We might be going out on a limb when we say Bitcoin lost its moral high ground.
The crypto world was a little different when we started writing about new money that anyone could use. No more gatekeepers – and no more banks to control the flow of digital currency. Bitcoin even got rid of central banks.
It was an amazing idea. Now it’s dead. We aren’t here to lament the fall of Bitcoin from digital money for the people into an asset for the biggest financial players in the world. No use crying over spilled milk.
Op-Ed: Analyzing Bitcoin’s Shift from Electronic Cash to Global Asset
What matters today is understanding why Bitcoin was so powerful. It wasn’t the technology – clearly there are better platforms now. Bitcoin was captivating because it empowered common people at the expense of an abusive global system that fetishizes power at the expense of the masses.
Unfortunately – this isn’t a problem from an economics textbook – the suffering is real.
Blockchain and cryptocurrencies are tools. We need to decide what kind of world we want to live in. Pro tip – don’t ask AI for the answer. We have the tools to build a world that treats humans well – we should use them while we still have the opportunity.
