Imagine a society built entirely on a Blockchain system such as Ethereum and DAOs (distributed autonomous organisations), and prediction markets (such as Augur) Through the power of the Blockchain, we don’t need the government to regulate money, and that I hope I don’t have to mansplain. Likewise, we don’t need the government to regulate stocks, as these can be traded on the Blockchain. We can even vote on shareholder propositions through the Blockchain. We can create ETFs using custom DAOs per ETF, where each ETF has its own token which can be traded. Dividends can automatically be distributed. The DAO could automatically buy and sell the underlying instruments as needed. Real estate ownership can be handled the same way. Through standardised prediction markets, we can create markets to predict the death of anyone. Imagine there was a prediction market for your death with outcomes per month. If the price of betting on your death in the short term was artificially high, it would incentivise private law enforcement / mafia / gangs to protect you as they could purchase cheap bets that you will live and make a profit. We could create a DAO that for a monthly fee, would make bets on your death (and the DAO would keep the profits if you die, hence reducing the cost) and this would result in the price of bets of you living being artificially cheap. This way we can actually write laws such as “don’t murder” through the Blockchain. Imagine if there was another prediction market that included information about who the killer was. A DAO could even notice who that killer was, and make large bets on them living in order to make it worthwhile for private law enforcement to give them the death penalty. This could be the solution to getting more diverse people into law enforcement and saving those communities. We have the technology.
How many uppers were you on when you posted this
what a waste of energy
Noble idea. I was a proponent of this purist ideology but then there are some inconvenient facts. The real nature of who we are is different from the idealized narrative we hear all around us. A pure libertarian system would expose this and people won’t like it. There’ll be an open market for sex, more sexualized young girls (because hey, it’s what the market wants, and everyone wants to exchange more value to barter). There’d be a larger pool of disposable low IQ men who are good at nothing and not date-worthy (and equally a pool of men dominating at the top because distribution of trait conscientiousness and trait intellect is flatter in men than women, who are more clustered around the mean). There’d be more inequality because Pareto tells us that in any mode of competitive production, be it music, arts, theatre, agriculture, industrial production or programming; the square root of the number of producers will account for almost all the production and everyone else would remain devastatingly at 0. And we also know that inequality is the biggest predictor of crime in a neighborhood (and not poverty). It would become obvious that abilities, preferences and the big five personality traits have different distributions across ethnicities, which might lead to emotional discord. The more you think about it, the more you realize that our society is built upon lies that are told to maximize cumulative harmony and well being of people. The anarchist in me would like to have the bitter truth be out there though.
Blockchain isn't well thought out, but yes, I like the idea!
Check out The Venus Project. I think that's the ultimate goal and what's in this topic is the means to it. I think before we get to this desirable paradise we need to solve more basic issues such as world hunger, access to education and healthcare, get climate change under control. We need to be able to create more abundance cheaper and to distribute it to the parts of the world that most need it. The biggest problem that I see is that the politicians don't have the vision and integrity to drive things towards the common good despite all the technological progress. And this is where subversive organizations have to be created to shake the system through the use of disruptive technologies that show a better way of life. For example let's give people in Africa internet through Google's baloons so they can get more informed. Then let's give them renewable energy and smart agriculture so they won't have to fight each other for food. Then let's give them freedom and power to organize through secure communication, blockchain, DAOs so they can resist state oppression and can organize their resources more democratically. These are crude examples that can be applied to any country to some extent but it has to be done in a practical, step by step way. Otherwise we risk to create a dystopia for the advantage of the few instead of an utopia for everyone. It's useless to have automated markets, blockchains and DAOs when 100 million people will break down your door, beat you with a club and empty your fridge.
Am I missing something? From what I’m reading, The Venus Project looks like communist propaganda.
or, Or, OR Why don't we just pool a little cash together and have a dispassionate enforcer making sure that everyone follows a set of previously agreed upon rules.
Benevolent dictator? It’s been tried, doesn’t work.
There are already communities using digital currency. Simple tokens and not blockchain. Look'em up.
How does blockchain mitigate the need to regulate stocks, exactly?
What need?
Accounting fraud is a problem, for example. How does blockchain solve that?