Blockchain will kill the government?


I I'm a cryptic fanboy. I have some crypto-miners, I own some crypto-coins (hundreds of dollars, not thousands) and I support the idea of ​​moving away from government control over money. However, I also like to get into wide-eyed things – and my conclusion is that while the blockchains that control these currencies are large, they may not be government killers.
The problem is that facts are facts. While blockchains are good at managing data and a ledger, they do not own weapons, possess any physical ground or have the power to incarcerate.

My considerations on this aspect have developed because I consider more political areas in which blockchain could reduce the government. In fact, last year I wrote an article in these pages that praised the way in which blockchain could bring economic growth to developing countries. While that article is still completely true, and the possibility still exists for a blockchain revolution – there are still some aspects that must all be aware before drinking the Kool-Aid.

For example, let's say that a country like Georgia has adopted a blockchain to keep track of private property, as Hernando de Soto has preached. This could help to free economic growth since the current corrupt bureaucracy could be brought to light on a public ledger that everyone can see. Much of the gray areas around the private property of a country like Venezuela could be eliminated thanks to blockchain transparency.

This possibility is very real and is currently occurring in some countries.

However, as the TSA is largely a security theater, this new government adoption of a ledger can also be theater. A public ledger is great, if the government sticks to it. But what if they decide not to do it? What if they decide to shell out the blockchain and replace the old information (distributed ledger) with the ownership of the land in the way they want it (inspired by crony), just stop using a blockchain altogether?

When it comes to currency, the story is a little different. If someone wants to accept a payment method – be it a chicken or a bitcoin – then he can accept it almost regardless of what the government says. However, if you are using a blockchain to track land ownership, the only group that imposes that property is the government, so if they decide to use a different blockchain or stop using a blockchain altogether, then do not c & # 39; it is almost nothing that can be done.

The government is the group that imposes land ownership, has the power to jail and has the weapons. Pointing to a screen and showing ownership on a computer screen will not change a corrupt person's mind. Fanboy Blockchain could cry. But here is where the big government, big money and corruption collide – or where the gum of crime hits the corrupt road – and where a corrupt government reveals that the government is always just what it wants to be. Blockchain or no blockchain.

Now, voters have power – where people are allowed to vote and the vote is real – so politicians have a motivation, or a reason for profit, to support what is best for the general economy and the good public. However, in places where the addition of private property to a blockchain would help create a guarantee – voters are not necessarily the greatest interest of politicians.

That said, I am still in favor of keeping track of private ownership on the blockchains. It is still agreed that this movement could help stimulate economic growth in developing countries. But when it happens, people need to be aware of the potential disadvantages and that the simple implementation of a blockchain does not eliminate the possibility of corruption.

In the coming years, more and more companies will start implementing blockchain in their processes. This means that even the government's adoption of blockchain technology will increase. These are all good things and will help to shed light on areas that need exposure. But this does not mean that the blockchains will be infallible. A more blockchain use does not mean that we can relax our supervision. The use of the Blockchain is just a step in the right direction, but good government with limited government will always be the most important part of any reform.

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