Great post! I especially like this section:
"Why have a brokerage house and central clearing house holding your stocks in the form of IOUs while they lend them out and write all manner of zany derivatives contracts against them? We pay them for this 'service'?"
Blockchain can truly bring value to all parties. Rather than large institutions keeping all the profit, it can be distributed to everyone via decentralized ledgers. Basic attention token being a prime example of this. Rather than have all the advert money going to large corporations like Google, we the people get paid for viewing ads and interacting with them and companies get better results because we are more interested in the ads we're viewing. Win-win.
Basic attention is a fantastic project, and I strongly hope that it gains wide adoption in the brutal online publishing business. Google and Facebook take something like 80 percent of all online advertising while producing zero content of their own. It's totally unfair.
In the United States, our Constitution explicitly grants the power of "coin" creation to the PEOPLE by way of our representatives in Congress. I have a feeling the Founding Fathers would have loved the blockchain and its ability to restore this very fundamental and important right. I will address this in more detail in my next post.
Thanks for the comment. Following you...
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I couldn't agree more. Interesting idea with the founding fathers, I've never thought about it like that.
Thank you! Following you as well! Keep up the content, you're doing a great job!
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