The inevitability of Blockchain Dominance.

There have been many who have denounced this new technology, saying things like : After 10 years we still have not found a use for the Blockchain and Cryptocurrencies(

The truth is though that the Blockchain provides undeniable benefits this world desperately needs and there is nothing else we know of which can satisfy those needs.

Throughout human history, there has been a need for trust in all transactions we engage in. This applies to dating and marriage, purchases and sales, decisions on what to learn, who to associate with and who we should allow to operate on us or provide medication.

We used to rely on the word of others in our relatively close-knit communities. Today we transact through the Internet and have no personal knowledge of the people we are dealing with. We rely on the reputation provided by others who have traded with them in the past but are never certain that the information provided is not fake.

The Blockchain is the most significant development of our century to date and provides the basis for a new world. A world in which the functionality vested in centralized institutions in the hands of the powerful, can now be put in the hands of those they are meant to serve.

This was the aim, in a sense, of communism. That is, the put the means of production in the hands of the people through removing it from the hands of the entrepreneurs, but the only other control option was a 'beneficent State', a concept yet to be realized.

Now we can actually put the control of politics, finance, development, correction, innovation and virtually all things, in the hands of the people, through their contribution via the Blockchain, in terms of transacting, voting, support and every kind of cerebral ingenuity, as we are free to interact on a truly global scale.

An innovation of late is a means of rewarding innovation through Steemit's https://steemit.com/@utopian-io , which provides all with the opportunity to contribute to Open Source software development and be rewarded through Steemit's reward by popularity mechanism.

How does the Blockchain facilitate these new certainties ?

Douglass North pioneered "New institutional economics" and described as the grease of our economy, constitutions and other formal controls, and bribery, protectionism and other informal controls. He said that these are designed to decrease the uncertainty we face in dealing with each other at every level.

Whereas the informal controls of the distant past were violence based, modern controls, provided by governments, corporations and banks, are based on more formal and less violent means.

Once these formal controls were added to the Internet, we had a platform for global interaction like never before with Ebay and Amazon as good examples.

Now its time to bring more important controls within the reach of us all. Controls such as voting via an immutable record producing system which will eliminate corruption in government.

The Blockchain is a radical advance in this endeavor and provides a technological array of certainty generators.

The Blockchain is a decentralized database which stores a registry of assets and transactions across a widely distributed peer to peer network. Its a record of people and their assets and how they exchange them through transacting with others. Its a secure and immutable registry due to the development of cryptography and the distributed network topology.

Three sure ways in which this innovation provides the much desired certainty are through providing reliable information on :

The identity of those we're dealing with
Transparency in the performance of required actions
Ratification and recourse

The Blockchain provides a platform to store a global identity for an entity, as opposed to identities built up on the likes of Ebay and other such platforms which do not share information. This identity can be ratified through the inclusion of traditional official identification sources as well as digitally created sources, all of which, when kept in this way, provide reliable information. A mortgage registry is an example of such a source which is already in development on the Blockchain.

When we transact, we want to ensure that the terms of the agreement are met and we want to effectively track or monitor the various aspects of the exchange of goods, services and funds. We do not normally have access to the full spectrum of information pertaining to transactions we engage in as the information is maintained by others who limit our access.

The Blockchain provides a decentralized means of providing relevant information to all relevant parties. Notarization of events and progress will be made on the globally accessible immutable record and provide parties with reliable information required which satisfies the need for certainty as well as reliable recourse

Since these needs are met by this technology and no other, the future of this technology should is certain if the people ensure that its purposes are not thwarted by institutions seeking to retain their positions of power.

The phenomenon will undoubtedly bring conflict as the people strive for the autonomy we deserve.

Social media, in its current role as the most powerful means of influencing society will play an important roll.

Its up to us to ensure we protect our future and realize the bold new opportunities this technology presents.

The challenge is to counter the false information with which society is indoctrinated and curb moves by governments, banks and corporations to control the Internet and Blockchain technology.

Sources
Bettina Warburg's Ted Talk titled How the Blockchain will radically transform the economy.
Pixabay, Unsplash
Other sources referenced by embedded links.