Glen Weyl, the author of the radio markets and vital butler, the founder of the Ethereum, wrote an article on what to do for a radical decentralized world. The article, which sought answers to the question of how disruptive technologies such as blockchan could defeat the giant hierarchical institutions in the present situation, attracted great interest.
It was stated that traditional and proven companies and institutions are being questioned by the public more and more day by day, and it was emphasized that this situation was beginning to apply to the elite section of society. This is the first time that I have ever heard of this.
Arguing that bitcoin and other Crypto currencies were a natural reaction to the traditional economic system, buter emphasized that Bitcoin gained even greater importance for people, especially after the 2009 economic crisis.
Central systems and data privacy processes are not successful enough, while the serious failures experienced by these systems, such as Blockchain, accelerated the development of decentralized and user-centric systems. Blockchain described it as ”a technology with great data privacy and decentralization” by butler.
The paper also mentioned Glen Weyl's radical market theory. Speaking about the introduction of political and economic rules to life, Weyl said that a radical free market would create much more competition. In particular, the current system created power and income inequality, Weyl expressed that a system, such as his own theory would bring great benefits, he said.:
"The traditional system actually creates serious income and power imbalances among people. It prevents them from being evaluated in the best hands, and it gathers all the power in a few big people. That's wrong. If we want to wake up to a different and equal world, we have to put our hands under the stone.”
The article also dealt with democratic innovations. In particular, while focusing on a Quadratic Voting system where people can buy the right to vote, this will allow for more effective elections. In a state Utopia where citizens will be consulted on various issues, it is stated that those who want to vote can buy votes; this stance will be reflected positively in democracy. This situation will change the role of democratic institutions and institutions within the state. Buterin and Weyl, they said about this:
”This new creative approach to democracy can play a much greater role in protecting the rights of minorities and thus the legitimacy of the state will increase as it sees its citizens. These two will be mutually reinforcing processes.”
Krypto money and other Blockchain-based solutions have shown that the transformative impact on traditional markets should be gradually and intimately intimidated, and that it could potentially cause a serious problem for political and social institutions to deteriorate at a time. It does not make sense to get into work by creating more problems in the face of the problems he wants to solve, while the switch from the trust-backed systems to the rule-based Systems.; he said he was trying to perform on the ethereum platform, and said::
”This is a fact that the systems we are using are failing, and this shows that a human-supporting structure is becoming increasingly appropriate. That's what I'm trying to do on the etherium.”
Stating that more clear and clear rules should be put into force for institutions to gain confidence, butler also claimed that the need for institutions that provide official and transparent rules has begun to decrease due to the severe acceleration of decentralized structures. According to butcher, the crypto money community has reached an innovative point of view at this point and has succeeded in adding a philosophical perspective to this point of view.
This momentum captured by the crypto monetary community also contributed to radical decentralization processes, the bilateral, decentralized systems to take power and distribute to people once again reiterated their belief.
He said that the applicability of innovative democratic solutions such as Quadratic Vooting, especially mentioned above, is high and he believed that blockchain-based social interaction platforms will be a very important place in the future. This situation in blockchain sector because of the nature of the control processes suffered because of the decentralized will be a bit of a solution to transfer buter; also listed other problems of the sector.
He said that the anonymity and privacy features were the nature of Blockchain, and that this was an invitation to some "fraud and immorality". Changes to blockchain platform, fakes accounts and votes are used to draw attention to Buter; these voting processes can complicate the work of a variety of whales dem.
Recognition and approval of people's identities in the process of using a system that requires such a vote, indicating that buter needs to be taken to be the cost of each game there should be more, and in this way, the ‘whale’ that could be put on the brakes, he said.
Buterin and wyle saw the only way to get rid of the oligarchs and Single-centred power centers, and said that if these systems were created, things would get better. At the same time as technology progresses, the integration of sociological solutions should be sought to make it easier stating that butcher, the words ended as follows:
”This time, it is our only and only goal to finalize the decentralized building trials that have resulted in failure in the past.”
