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A Convenient Revolution: Forget About Price & Focus on the Gift of Blockchain Technology

August 22, 2019
James Hall


A Convenient Revolution: Forget About Price & Focus on the Gift of Blockchain Technology

Since the invention of gun powder, blockchain technology might be the most effective tool available to citizens for challenging authoritarianism, centralized power systems, and tyrannical entities. Unlike the cost our ancestors faced, we should be grateful a revolution can occur from our collective couches.

Powered by mathematics and impartial code, blockchain, or distributed ledger technology (DLT), allows individuals to interact in ways that only years ago required a centralized actor to mediate. Whether as a currency, securing data, tracking items on a supply chain, or a legal contract (among other use-cases) blockchain technology offers humanity the ability to interact in a peer-to-peer manner with anyone in the world.

This technology provides the world a choice beyond their local incompetent politician or corrupt bank; it offers the world a currency and store of value which cannot be devalued by the arbitrary printing of more fiat currency by centralized actors; it offers fast cross-border payments for a minimal fee as opposed to the current system where wires can take days to process and can cost thousands in fees; people in unstable regimes or who are bank-less now have a choice that allows them to secure their wealth and participate in a global economy.

Blockchain will reshape this world. When going online, however, it is not difficult to find an immature culture surrounding it. While some of those folks may very well own a “lambo” one day, it is disheartening that person likely has no idea the implications or reality of the gift they stumbled upon. The gold rush cost many their lives or the lives of their family members; the crypto rush cost many their afternoon learning how to download a wallet.

Our mind is our most important asset, so it is important we teach ourselves and others about blockchain and the value it provides. Already, the term is being twisted by the authoritarians who are releasing platforms that are ‘blockchain in name only.’ Education is the greatest tool to safeguard this revolution.