Technologies are created to solve problems. Sometimes they make our jobs easier and more efficient. Sometimes they bring new ways to do it. The Internet and the open source revolution have already made our world better in many ways, while also creating new problems. Blockchain technology is the new frontier where something similar could happen. Many applications of blockchain technology are designed to revolutionize all kinds of industry and commerce. But can it really change our society?
In the words of Dev Sharma, CEO and founder of Blockwiz, "Blockchain has the potential to drive some much-needed social change in our current structure. It can deliver social justice by protecting records such as car ownership, and reduce misconduct through its transparency when applied to supply chains and government spending. This potential is enormous and often poses a threat to authoritarian regimes that use power in the wrong way."
The world has turned against the abuse of authority and power by public and private institutions. This has brought us laws and policies that protect our privacy and security on the Internet. Similar movements have occurred and faded in the past, as efficient systems that could replace the current ones have largely been missing. However, with blockchain technology all around us, many of these movements can now find a solid foundation.
Most of the solvable social problems arise due to the vulnerability of current systems to tampering and lack of transparency. Due to centralization and layering, these systems have multiple points of failure. This can lead to corruption, unreliability, and excessive resource costs. All of these can be solved by implementing blockchains in these systems. They can also be used to automate traffic management, property management, taxation, fine collection, etc.; activities that are prone to abuse and corruption.
"History shows that centralized systems of governance fail for the same reasons. Inequitable distribution of power and abuse have brought down empires. Democratic and federal governance is the closest we can get to decentralization, but it is still vulnerable to socio-political injustice. Needless to say, it is also very inefficient. Over the past two decades, technology has seen tremendous advances, but their direct use to solve socio-political problems has been limited. Blockchain technology, however, can be a direct solution to many of these." Mr. Sharma of the Canadian Cryptocurrency Marketing Agency added.
The concept of smart cities already takes these applications into account. While use may be limited to public systems and operations, it can easily be extended to government and legal systems. Our current technology is capable of managing and addressing many of the small needs of our society without human intervention or oversight. The only barrier to technology-driven social change is implementation and use. Especially now, when we have the solution but the problem still exists
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