Exploration of new forms of governance may be blockchain’s greatest societal contribution.
For the first time in our known history, humanity has the tools to organize mass numbers of people in complex governance systems without needing approval/involvement of formal government entities or for the participants to be in geographic proximity to one another.
I define blockchain consensus mechanisms as models for aligning the incentives of individuals who don’t know or trust each other, such that they can securely transact in mutually beneficial ways, while building and sustaining a functioning economy by virtue of their participation.
Today we are seeing a Cambrian explosion of governance models being launched by a plethora of teams with unique philosophies and clever ideas.
One way to view this phenomenon is as mass experimentation on a global scale with real stakes. Blockchain networks can serve as a testing ground upon which we as a society learn what can work better than our current governance systems.
To me this is the most exciting aspect of blockchain technology. At the same time, these networks are generating massive value, as indicated by trading markets.
The potential wealth to be gained via speculation fuels the growth of what you might consider to be high potential research projects. This process is vital and beautifully synergistic.
I’ve been thinking about blockchain for a long time and have finally put finger to keyboard. More to come (whenever it comes).
Recommended reading:
https://medium.com/@FEhrsam/blockchain-governance-programming-our-future-c3bfe30f2d74