Blockchains Will Enhance the Economic and Socio-Political Emancipation of Humankind

Blockchain technology is serving as a tool for emancipation by enabling people to participate effectively in the economic and socio-political affairs of society. Evolution is a natural aspect of human existence. Different eras of the socio-political development of humankind have been governed by the predominant ideology of the given period of time.

We Live in a Dynamic World

Over time, the dominant systems of government have varied. They include, Monarchy, Constitutional Government, Democracy, Dictatorship, Distribution of Authority, Federal Systems among others. Presently, we live in an era where the majority of nations practice one version or the other of democracy. This is born out of the belief that it is the most inclusive system of government where the people have a say in the way that they are governed.

Taking a closer look at how societies are constructed and organised, it can be argued that present day democracy is far from absolute  due to the absence of true decentralization. In the words of Charles Bukowski:

“The difference between a democracy and a dictatorship is that in a democracy you vote first and take orders later; in a dictatorship you don’t have to waste your time voting.”

The Way Forward

According to blockchain expert, Derin Cag , without immutable, transparent and distributed systems, it is unrealistic to have full democratization. Cag notes that politicians could get purchased, information could get manipulated and elections could get hacked. Blockchain technology is trustless and could be autonomous, hence providing a feasible solution to the aforementioned problems.

Cag explains that soft-power was once exclusive to empires, followed by nations, and then the elites, but at the time of writing, common people could now have soft-power.

“Apparently, the quality of life is improving in most places, whilst individual sovereignty is getting established on a stronger and stabler foundation through blockchain technology. This is emancipation of humankind because extortionate intermediaries people once got forced to rely upon are getting disrupted by economic alternatives”, says Cag

Technology over Emotions

No matter the political input towards achieving the total emancipation of humankind while maintaining law and order, the cracks inherent in human nature have always been exposed. This is evident in the political rancour in the west, the unstable democracies in Africa and the rebellion in the middle-east.

The assumption that the blockchain may offer the genuine platform for tangible emancipation nears reality as various innovations are capitalizing on the promise of decentralization to actually deliver power to the people.

A Revolution

According to Paul Allard, the CEO of the impact economy built on organizations sharing values of social purpose, ecological concern, economic efficiency and inclusive governance, Impak, the present day society is an exciting one, despite the economic and socio-political challenges we are faced with.

Allard notes that the revolution being championed by blockchain technology is a global disruption on a magnitude never experienced before.

Allard says:

“If you thought the advent of the internet was a major transformation to our world in the 90s, wait and see how blockchain technology will revolutionize our society!”

Allard explains that Blockchain technology is ultimately a means for people to coordinate common activities, to interact directly with one another, and to govern themselves in a more secure and decentralized way.

Power to the People

He notes that users of services can qualify both as contributors and beneficiaries of the platforms to which they contribute. And the value produced within these platforms can be more equally redistributed among those who have contributed to the value creation. Blockchain has the power to democratise political freedom.

As Primavera de Filippi states:

“Blockchain makes it possible to change the model of top-down hierarchical organizations with a system of distributed, bottom-up cooperation. This shift could change the way wealth is distributed in the first place, enabling people to cooperate toward the creation of a common good, while ensuring that everyone will be duly compensated for their efforts and contributions.”

Allard concludes by noting that if we, as a society, really value the concept of a true sharing economy, where the individuals doing the work are fairly rewarded for their efforts, it behooves us all to engage and experiment with this emergent technology, to explore the new opportunities it provides and deploys large, successful, community-driven applications. And this is one more step forward towards the emancipation of humankind.

Featured image from Shutterstock.