Hi guys, i am not an active user of steemit but i wanted to share with you this french article who talks about how blockchain will give back power to citizens if they know how to use it.
Here is the original article :
https://www.7x7.press/l-empowerment-des-individus-grace-a-la-blockchain-en-7-points
For those who don't speak french, i 'll try to summarise it at my best. This article is separate in 7 points :
- 1. By supporting individual initiative, Blockchain stimulate creativity and innovation :
For every project, there is a risk that your work won't be recognized or that your efforts are not going to be rewarded like it should. But with Blockchain, you can identify and trace the real contributors. And they give a well known example : Steem, where people are rewarded for their contribution, wich is a truly good motivation. In order to make this system work, people need to write smart contracts, who are codes who will run in the blockchain and be executed well and safely...if the smart contract is well written.
- 2. Blockchain makes data and reputation of individuals a major intangible capital
At the moment, Facebook, Twitter, Google and etc. own a large amount of data, our personnal data ! They know a lot of things about us, and they use those data in order to grow and aqcuiere more knowledge and power. Through Blockchain, everyone could own his own data and decide to share it or not. And if people decide to share it, they will be rewarded according to the contribution it brought. This will incentivate individual to protect and promote their own reputation and data. (see also Homodeus by Harari)
- 3. Blockchain makes intellectual property out of date
With computers and internet, a lot of knowledge is shared but also robbed. But with this new technology , your royalties could be handled by an artificial intelligence who runs in the Blockchain and then no more third parties would be needed like record companies or judges. Everyone will be rewarded more accurately and will be incentivate to create more cool stuff.
- 4. Absence of new hierarchical power will require new exchange tools
You saw in the third point that third parties like lawyers, big companies, and even the states won't be needed anymore, because everything could be ran by Blockchain and smart contracts. This is kind of a big revolution ! Even money can be sent without banks (Hello Bitcoin and other cryptocurrencies). Decentralised applications, who will run on the blockchain, will be needed in order to handle all of this.
- 5. Blockchain creates new fund-rasing tools
Maybe you have heard from IPO's in the 90ies with all the dotcom market. Well now with cryptocurrencies you can finance new projects and products. This is called ICO (Initial Coin Offerings) and has already have a lot of success, with some projects raising several hundreds of millions in dollars ! (check EOS and OmiseGo by example)
- 6. Individual empowerment needs regulation and securisation of Blockchain
What if all that is proposed in this article comes true ? All your data, money, posessions and everything else would be managed by hte Blockchain. This could be dangerous. Imagin also a state who would run a Blockchain and control all of this... Blockchain needs to be decentralized, wich could be a problem with Bitcoin for example, because a lot of power mining comes from chinese farms. If they own all the power mining, they own the blockchain !
- 7. Recapture of power by individuals can reinvent socio-economical models
All those changes could lead to a new sort of society, where everything will be managed by blockchain, even the votes and the decisions. A new sort of collective intelligence and consciousness will be needed in order to adapt to this new lifestyle with new values and new social contracts.
Ok i hope this was informative and interesting for you guys. Maybe you should try google translate if you want to learn more about this article, i just tried show the principal points to show you how Blockchain could change the world. Don't hesistate to tell me if my understading of some parts of that article were wrong.