Very good question, Jack Preston King. As always this is a bit more complicated than can be explained in a four minute read. I see technologies such as blockchain and cryptocurrencies as enablers of an open economy as do many other people. But enabling something doesn’t mean it will happen. That depends on how it is used. There’s the rub.

One of my major conjectures is the potential for AI/ML and all related technology to enable a type of direct democracy. This could be based on detailed modeling from our tracked actions that would allow an official governmental AI system to suggest what each of us would like to have happen in a specific situation if we had the necessary expertise to make an informed decision. Then we could review the suggested position and approve, delete, or modify it. I think this beats hell out of corrupt and/or incompetent “representatives” who inevitably represent someone else with money rather than those of us who voted for them.

But for that to happen will require education and tremendous change.

More to your question, the technology that is now the center of our existence is enabling complete decentralization. Cryptocurrencies with blockchain can eliminate the financial agents and governmental regulators not only for money but for contracts and all agreements. Governments actually exists in its present for primarily as recorders and garaunters of contracts. Capitalist, liberal economics requires regulated contracts. Form that position comes ultimate political power. They take a cut from every process and can approve or deny that process.Remove that layer and everything changes.

Most governments, billionaires and their followers don’t understand this yet but they will. The top rulers who are now all tech, Facebook, Amazon, Microsoft, etc, understand this very, very well hence they are pushing as hard as they an to get control of blockchain and lock people into conceptions of it that will keep them on top. They have no choice as they are racing ahead to avoid being consumed. I’m betting on changing the structure and ending their dominance.

I’ll be writing much more on this as it works its way out.

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Educator, CIO, retired entrepreneur, grandfather with occasional fits of humor in the midst of disaster. . .

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