In 1919, Benito Mussolini coined the term “fascism” to describe his political system and the world forever changed. Simply put, fascism was the blending of business and government. This is the system which could gain popularity in blockchain technology.
In 2015, the technology and financial sectors took note of blockchain technology, not as it relates to Bitcoin, but, rather, how it could relate to their general business practices, models and theories. We’ve seen this innovation in perception march forward as the private sector – via consortiums and corporate labs – explores the innovation kicked off by Satoshi Nakamoto.
Talk in the space often focuses on the different types of blockchains which could be designed: private, public-private and public, the latter being the Bitcoin model.
Modern industrial societies are neither Capitalist nor are they Socialist. Instead, they represent “the third way” of possible outcomes of political thought in the nineteen and twentieth centuries, which were arguably inspired by laissez-faire (classical liberalism, Capitalism) and the opposing left-wing ideologies (Communism, Socialism).
In a synergy of opposing notions, modern societies are created out of a melange of Capitalism and Communism. US policy expert Zbigniew Brzezinski discusses “commercial capitalism.” This term, which he uses to describe the current economic and political systems in China, can be applied to the Democratic-Socialist nation-states in the west. It’s basically a society in which partnerships between government bodies (local and national) and private entities (big and small) are crucial for the fabric of society.
These ideological paradigms express themselves in Bitcoin Proper, where socialist and capitalists theorize how Bitcoin belongs to their ideological family tree.
Like an emerald in a field, Bitcoin and blockchain technology will reflect the society in which they exist. It’s plausible that Bitcoin finds itself fractured just like the many dissident and activist movements “in real life” fighting for social change. Further, considering the interest posed by major players in industry, technology and government, it’s reasonable to think partnerships between private entities and public entities, united by blockchain technology, dictates the management of the blockchain database or exchange system which they deploy. In Bitcoin proper, E-Gov and BitPay efforts offer an example how private entities and public entities can partner on blockchain forward initiatives.
Disclaimer: The views expressed in the article are solely that of the author and do not represent those of, nor should they be attributed to CCN.
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Last modified (UTC): February 23, 2016 13:02