Blockchain Technology: Will Decentralization Result to Anarchy?
Often regarded as the next internet, the blockchain technology is set to disrupt the way businesses are done and how records are kept. For the first time in human history, the blockchain technology has eliminated trust, bringing transparency into financial transactions.
On top of that, the blockchain technology is well known for decentralization, taking away ownership and control of information from the hands of a central authority and giving same to the masses or other elected representatives. Wonderful.
One beautiful thing about decentralization is that it creates a feeling of security and safety in the minds of those interacting with hitherto centralized products. A good example is the use of Bitcoin as either a store of value or a medium of exchange. In both cases, the user feels protected from.the peering eyes of regulatory bodies who have a reputation of intruding the privacy of citizens.
The same can be said of a person who prefers to use Steemit instead of Facebook. The former platform is built on the Steem blockchain and thus decentralized and allays the fear of data and privacy violation that have become characteristic of Facebook, especially after it was implicated in the Cambridge Analytical scandal.
As innovative as the blockchain technology appears to be, there are still those who believe that decentralization, which is one of its key features, will result to anarchy - a state of lawlessness and complete breakdown of social order. The fear is that the blockchain of things will result to decentralization, kick out the central authorities, and leave nobody in charge. If everybody is in charge, the skeptics believe, nobody is in charge - hence, anarchy.
If the matter is carefully examined, however, one can easily point out that decentralization will not result to anarchy as long as we still have some elected or delegated authorities to act within the decentralization. How do I mean? The Bitcoin blockchain, for instance, is maintainer by the miners who produce blocks and ensure consensus. As long as everyone is not and cannot be a miner, the Bitcoin blockchain will not result to anarchy.
The same thing goes for Steem. The Steem blockchain has elected witnesses that produce blocks and run the nodes with Steemit Inc at the top hierarchy. As long as everyone on the Steem blockchain are not witnesses, Steem cannot result to anarchy because there will be internal laws in place to prevent anarchy.
I will conclude by saying that the kind of decentralization that will come with the blockchain technology will still reserve some powers in the hands of certain individuals or corporations who will act on behalf of the rest of us. And as long as we have such a system in place, those who predict anarchy will most likely be wrong.
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Is anarchy a good thing or a bad thing?
I think that in society it's portrayed as a bad thing while in reality it's not as you'd imagine.
Anarchy can be freedom.
True. Now, keep in mind that anarchy creates power vacuums as seen in the Middle East and some places in the world where when one government falls, another government rises in its place.
Dear @gandhibaba
It is a complicated and interesting topic. I think that what exists are people with a lot of influence capable of directing or creating matrices of opinion and in that sense it can be very good or very bad, everything depends on the context. In general, I think that chaos, anarchy and changes bring advances and progress for any society, I see them as learning.
Great post.
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Thanks for your fine perspective on this topic. Cheers!
Steem IS in anarchy already, but maybe from the beginning. Where every larger fish can make the life of smaller fishes impossible with downvotes, and nobody is in charge... I'm sure that is one of the main reasons of declining user count and falling Steem prices. Since April or May 2019, the announcement of the fork.
The downvote tool is there for control, to even prevent anarchy and not to aid it. I know at least two toxic whales who have changed their ways because of the downvotes. As for people leaving Steem because of HF21, I doubt if that is the case. Quite a number gave up from the historical clash below 80 cents. Once the price stabilizes again, many runaways will return. Cheers!
Remember that the blockchain is not entirely foolproof. There is the problem of the 51% attack that would put bitcoin in check. If some multi-million dollar consortium decided to do it, they could probably catch up. The same thing would happen with Steem's blockchain. I guess it's not yet attractive enough to invest in the crypto world to change the balance.
As long as the wealthy oppress the less privileged, I guess there won't be anarchy as such.
Anarchy is just a change of power. I guess power sets the rules on all levels
I have read of systems proposed for the establishment of an autonomous government system for blockchain control (DAO, DAC, etc). But I guess it's all just theory.
Thanks for sharing, dear @gandhibaba
Very true words, I can't agree less with you. Thanks for stopping by.
You're very welcome :)
Highly rEsteemed!
One thing that I always found interesting in the idea of "Anarchy" as a political philosophy, was its connection with "Autarchy" (Economic system in which a state or group or society is supplied with its own resources and its own production, avoiding as far as possible imports and dependence on external factors.), which brings it very close to the idea of the Autonomy of individuals, a condition that makes them responsible for themselves and the consequences of their actions.
The fear of social disorder is understandable, any change in the Status Quo arouses terror in the groups of power that are going to be swept away and also arouses disharmony in the people who have lived dominated within the prevailing system ... I can't think of a change of the munod that was not accompanied by fear of the masses (sometimes beset by the ruling powers that tried to contain or stop the inevitable change)
Thanks for sharing your quite interesting perspective on this topic. Especially, I appreciate the Autarchy illustration. Cheers!
You're welcome!