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RE: Cryptocurrencies, Blockchain and Value
Thanks for a very detailed explanation of the blockchain and some future uses.
For me the blockchain and Crypto currancy is important because it has the potential to give the power back to the individual and prevent governments from squandering our money. I look forward to the day when they have to present a new project, building infrastructure etc. To the people for aproval and funding. When we have the choice as to what we invest in, then democracy will be a real thing.
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I hope you are not holding your breath.
Oh no I have faith in Abraham 😁
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One of the things related to blockchain that gets me really excited is its role in facilitating digital direct democracy. Its the first time in human history that we have the real infrastructure needed to create such a wonderful thing and it can be done directly on a smartphone. The first major step in this direction is to embrace digital identity and I hope we have a viable blockchain solution as soon as possible.
How do you see this transfer of power back to the people ocuring?
Obviously a difficult question to answer. So I will say this.
I beleive the days of fiat currency are numbered. The signes are begining to apear.
I liken it to a game of Monopoly where in the end all the money ends up in the same place and that person wins. But do they.
There are more Billionairs being created everyday but it is still a very small percentage of people. When you realize that most if not all countries owe Billions or Trillions of fiat. To whom we don't know. These Billionairs have more and more control over the world. nd of course whilst this is happening down at the other end more and more people are driven into poverty. Lets use Italy, Greece, France and of course Venezuela where the people are starting to rise up against their respective Governments.
When people start to see Crypto as a viable alternative to the paper in their pockets or indeed the digits on their plastic card. Then things will change. Here on steemit we have the chance to bring that to a reality. The people at the top will eventually realize that looking after the people at the bottom will actually make the steem blockchain stronger, therefore sharing wealth will be a positive thing to do. Greed won't make you wealthy. But helping others will. The whole structure of how money is used in this world will change.
We have that chance right now lets make it work. For the many not just the few. 😎
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One of the major flaws of FIAT is that it promotes accumulation. I believe there should be a incentive in the structure of money that promotes circulation, so that people with a lot of money create value for others instead of hording billions of dollars.
I see a lot of potential in steem, but it has a major incentive for hording SP to increase the vote power. So, even a well intended whale will need to increase its wealth in ordert to better help minnows. I am not sure where this will go, but I really hope that you are right :)