Blockchain: Blueprint for a New Economy

decentralized will be, showing his belief

in the inherent efficiency and benefit or

superiority of the blockchain model.

Decentralization is “where water goes,”

where water flows naturally, along the

way of least resistance and least effort.

The blockchain could be an Occam’s

razor, the most efficient, direct, and

natural means of coordinating all human

and machine activity; it is a natural

efficiency process.

Blockchain Layer Could

Facilitate Big Data’s

Predictive Task Automation

As big data allows the predictive

modeling of more and more processes of

reality, blockchain technology could

help turn prediction into action.

Blockchain technology could be joined

with big data, layered onto the reactive-

to-predictive transformation that is

slowly under way in big-data science to

allow the automated operation of large

areas of tasks through smart contracts

and economics. Big data’s predictive

analysis could dovetail perfectly with

the automatic execution of smart

contracts. We could accomplish this

specifically by adding blockchain

technology as the embedded economic

payments layer and the tool for the

administration of quanta, implemented

through automated smart contracts,

Dapps, DAOs, and DACs. The

automated operation of huge classes of

tasks could relieve humans because the

tasks would instead be handled by a

universal, decentralized, globally

distributed computing system. We

thought big data was big, but the

potential quantization and tracking and

administration of all classes of activity

and reality via blockchain technology at

both lower and higher resolutions hints

at the next orders-of-magnitude

progression up from the current big-data

era that is itself still developing.

Distributed Censorship-

Resistant Organizational

Models

The primary argument for Blockchain

1.0 and 2.0 transactions is the economic

efficiency and cost savings afforded by

trustless interaction in decentralized

network models, but freedom and

empowerment are also important

dimensions of the blockchain.

Decentralized models can be especially

effective at promoting freedom and

economic transfer in countries with

restrictive political regimes and capital

controls. Freedom is available in the

sense of pseudonymous transactions

outside of the visibility, tracking, and

regulatory purview of local

governments. This can be a significant

issue for citizens in emerging markets

where local capital controls, government

regulations, and overly restrictive

economic environments make it much

harder to engage in a variety of standard

activities, including starting new

businesses. State economic controls,

together with a lack of trust in fiat

currency, have been driving a lot of

interest in cryptocurrencies.

The freedom attribute associated with

blockchain technologies becomes more

pronounced in Blockchain 3.0, the next

category of application beyond currency

and market transactions. Through its

global decentralized nature, blockchain

technology has the potential ability to

circumvent the current limitations of

geographic jurisdictions. There is an

argument that blockchain technology can

more equitably address issues related to

freedom, jurisdiction, censorship, and

regulation, perhaps in ways that nation-

state models and international diplomacy

efforts regarding human rights cannot.

Irrespective of supporting the legitimacy

of nation-states, there is a scale and

jurisdiction acknowledgment and

argument that certain operations are

transnational and are more effectively

administered, coordinated, monitored,

and reviewed at a higher organizational

level such as that of a World Trade

Organization.

The idea is to uplift transnational

organizations from the limitations of

geography-based, nation-state

jurisdiction to a truly global cloud. The

first point is that transnational

organizations need transnational

governance structures. The reach,

accessibility, and transparency of

blockchain technology could be an

effective transnational governance

structure. Blockchain governance is

more congruent with the character and

needs of transnational organizations than

nation-state governance. The second

point is that not only is the transnational

governance provided by the blockchain

more effective, it is fairer. There is

potentially more equality, justice, and

freedom available to organizations and

their participants in a decentralized,

cloud-based model. This is provided by

the blockchain’s immutable public

record, transparency, access, and reach.

Anyone worldwide could look up and

confirm the activities of transnational

organizations on the blockchain. Thus,

the blockchain is a global system of

checks and balances that creates trust

among all parties. This is precisely the

sort of core infrastructural element that

could allow humanity to scale to orders-

of-magnitude larger progress with truly

global organizations and coordination

mechanisms.

One activity for which this could make

sense is the administration of the

Internet. Internet administration

organizations have a transnational

purview but are based in nation-state

localities. An example is ICANN, the

Internet Corporation for Assigned