Blockchain and peer-to-peer network are built on top of strong philosophical and moral principles, solving especially
problems related to centralization of power. If a very powerful entity acts or decides to act immorally, inflicting
harm to others for any kind of selfish or greedy purpose, it might eventually become unstoppable like in case of huge
financial institutions. As it happens, powerful entities emerge through making money at someone’s expense, exploiting greed,
weakness or fear. Selling something harmful to people is a classic example, any kind of game play with human lives at
stake is questionable. Eventual bankruptcy of such institution is averted by governments printing money and causing
inflation that makes common folks pay for it while property of responsible bankers gets valorized even more.
The original reason behind decentralization is fair incentivization and transparency, morality and sustainability is part
of the design in order to prevent corrupted and immoral entities to play the system or others and to limit cancel culture
as those warning about evil should not be ostracised by centralized power. Powerful entities tend to be unstoppable because
naive individuals incline to join it and become part of it by slowly selling their souls.
In a time of deceit telling the truth is a revolutionary act. - George Orwell
Decentralization might be considered the First Amendment of the digital era, getting us a bit closer to the utopian idea
of a society living in synergy, peace and love. It is applicable to all sorts of sustainable sectors as many services can
be implemented as decentralized application on blockchain using smart contracts, allowing systems to leverage sensitive
data storage, digital identity, etc. E-government is a classic example, at the utopian level, democracy would be eventually
fully replaced with so-called DAO, a decentralized autonomous organization.
DAO is governed from within in contrast to democracy where you delegate your vote and will to a representative.
The legislation would be partially replaced by transparent smart contracts corresponding to legislative changes and government
events and persisted indefinitely to a blockchain. Voting would be done by any citizen who is interested through a
decentralized application. Utopian vision that will be possible at times when AI automates repetitive labor and people
will have more time to wonder about life, times of no government corruption in games of thrones. Utopia is not really
imaginary, it is just an era of society when being good and mindful wins over evil and ignorance, times of great
prosperity. No one ever knows where the balance really is :)