In this fifth chapter Professor Jason Potts explains how the blockchain can help develop new economic paradigms, radically changing the traditional schemes we have applied throughout history.
Potts states that there are 193 economies globally and that these can not be measured only in the currency, but that they include billions of people with different relationships and forms of production, which would change all the visions of measurement at an economic level.
Likewise, it emphasizes its analysis on the advantages of decentralization as a new system of global governance, which eliminates the intermediation of bureaucratic systems that hinder the economic development of nations and their citizens, where confidence in commercial exchange would be essentially in the blockchain.
It also raises the coexistence of public and private blockchain, which would operate exchanging information on a global scale with the premise of the certified trust of this information.
Finally, Toni Lane Casserly, co-founder of the Telegraph currency, proposes to us the situation that any blockchain development project should have a public utility, if not, it would be simply imitating a chain of blocks that already exists, and that is not useful to create new forms of economic development.
Casserly affirms that by creating blockchain that are useful, digital assets are automatically being created that will give sustenance to the emerging economies of the 21st century and that is how they will be consolidated in a globalized world.
We hope that this chapter will be of benefit for the enthusiasts of the blockchain, and for those people who want to know even more about this fascinating world.
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