1. Introduction: scope and hypothesis
What, and why?
This is currently a widely controversial topic, partially because it is considered with a very limited perspective — we will discuss this later. I believe it’s essential to talk about and get informed about it now, as this technology will inevitably replace most of the systems as we know them within a few years. The impact of this knowledge is the difference between two extremes:
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a solution relatively similar to the current one, when institutions have seized this technology and integrated it into their systems to serve the same power dynamics;
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a more egalitarian and participative solution, in which we own all of our data — digital data, including money — and from which trusted intermediaries with opaque and sometimes abusive operations are eliminated.
Let’s be clear, the goal is absolutely not to venture into trading or collecting — treating artistic creations like mere instruments of speculation, or buying the new cryptocurrency that will “moon in [insert date]”. No, that’s only the representation we have of blockchain, which, to be fair, seems to attract many people.
For now, there isn’t much more to do than to get educated. However, that’s already a critical step; it can at least facilitate a clear-sighted assessment of how we will be introduced to blockchain in the coming years, and help us figure out where and how to find alternatives.
The purpose of this article is to provide a picture that, I hope, will more accurately reflect its benefits and potential.
Bias and perception
Regarding my initial hypothesis — that blockchain will replace most of our current digital systems — you might consider that I’m biased, for various reasons:
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an unreasonable excitement due to a specific interest and involvement in blockchain, both on technological and political aspects;
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an echo chamber, where being constantly in an optimistic bubble inevitably inflates my perception of its potential impact on our society.
Obviously, that’s entirely possible. However, I genuinely believe that this assumption is correct, as it’s not so much based on a perception as on the observation of recurrent and increasing integration and adoption of blockchain by the world’s largest economic powers. When constantly witnessing such changes, occurring at an impressive pace, I believe we can start talking — not about a bubble — but about a fundamental transformation of our system.