19 Jul '16, 6pm

Bitcoin, Innovation Of Governance; Lightning Rod Striking Balance Of Power

Bitcoin, Innovation Of Governance; Lightning Rod Striking Balance Of Power

In its seven years of existence, Bitcoin has gained wide mainstream attention with its disruptive potential in finance. Yet, currency is just its first application. The technology’s other potential lies in affecting governance and law. Democracy has weakened in the existing systems of governance. With concentration of power created through hierarchy, ordinary people are kept out of influencing policies or participating in vital decision-making. In this lock down system, many politicians do not represent true interests of the people and those who do are often blocked out. Can Bitcoin strike this balance of power? In this article, I argue how Bitcoin is not just an innovation of banking and finance, but at its core concerns innovation of governance systems, built upon a new security model that protects and empowers everyday people.

Full article: http://right.is/politics/2016/07/bitcoin-innovation-of-go...

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