Decentralization: Can Tech Save Society?

Decentralization has long been hailed as a potential solution to societal ills, with proponents arguing that it could lead to a more equitable and democratic world. However, the rise of cryptocurrencies has not necessarily lived up to these expectations, and some experts are now questioning whether decentralized technologies can truly bring about meaningful change.

In a recent opinion piece, a prominent economist argued that the belief that honest money could make society better is delusional. While decentralized systems like cryptocurrencies may offer some benefits, they do not address the deeper issues that plague society, such as inequality, violence, and a lack of moral framework. The author suggests that humans have a tendency to create amazing technology but fail to develop a moral framework to manage its use, leading to a world where a few enjoy heaven while many more suffer in hell.

The World Economic Forum (WEF) has also weighed in on the issue, citing blockchain as a transformative technology. However, the author argues that the focus on data collection and growth at the expense of human compassion has led to a world where technology alone cannot make society better. The author points to examples of homelessness and extreme poverty around the world as evidence of this.

The author also argues that decentralization could create value for humanity on a wider scale, but only if coupled with a new view towards violence. Society grows from a base of violence, and a decentralized social group would need to consider how to grow from a base of violence across national borders. The author suggests that smaller political entities could allow people to live in ways they find more fulfilling, but the path forward for decentralization is not clear.

Ultimately, the author argues that most solutions pitched by the power structure will not break the mold of the current global social dilemma. The love of profit at the expense of anything else is the root of the problem, and blockchain and cryptocurrencies are amazing tools, but they are not enough to make the world a more equitable place. The author suggests that better morals, not better political dogma, are needed to create a more equitable world.