4 ways blockchain ensures freedom from corrupt governments and crony capitalists.

4 ways blockchain ensures freedom from corrupt governments and crony capitalists.

Blockchain is about cryptocurrency and bitcoin. Isn’t it? Yes. It is. However, that isn’t all of it. This post will uncover another side of blockchain.

The Blockchain Technology has the capability to guarantee natural law of justice. It can secure every citizen of the world from crony capitalism and corruption.

The Blockchain development can ensure freedom to every citizen of the world from dictatorships.

Here’s how Blockchain guarantees complete freedom to our fellow citizens worldwide.

1. Decentralization of Land Records

First, a Blockchain is a Decentralized public database or a ledger. This decentralization can help distribute land registry records to many computers all over the country or the world. This means no single malign actor or party can ever manipulate the land registry records within any nation.  That’s exactly why block chain development is a strong tool of democracy.

So, if someone tells you Blockchain is only about crypto, tell him it is also about freedom.

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Decentralization of Land Records

2. Decentralization of your Identity

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Decentralization of Land Records

Second, imagine if we had a decentralized identity based on our biometric data. No regime or dictator can ever take away our biometric identity.

This is again where blockchain can help us. Blockchain can create a decentralized public database of fellow citizens round the globe based on the real biometric identity you have.

This will circulate identity records to many computers instantly. What does this mean?

May be countries compete to offer their citizenship to you based on your merits as a citizen.

Or maybe your never need a passport, social security, or driver’s license to identify you.

This I call freedom. Freedom from being labeled to a nation.

3. Decentralization of Money Transfers

Thirdly, the world is crippled with cuts and conversion rates. The money market is a nexus that is filled with intermediaries.

Their job is to help citizens abroad send money (mostly to their family members back home). In process of doing this, intermediaries charge substantial amounts of money as transfer charges and conversion rates. The worst thing is it takes 7 – 15 days for the money to reach the beneficiaries in many cases.

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Decentralization of Money Transfers

 The Blockchain development empowers every citizen of the world to transfer money anywhere in the world. The price of transfer being quasi-zero. Also, the beneficiary receives the money instantly.

This brings us to the third point. Blockchain can ensure freedom of all fellow citizens of the world from these agents in the money market.

4. Decentralization of Data

Just search for a flight from New York to Miami. In less than 3 days your Instagram, your Amazon, Google, and Facebook account will be filled with flight recommendations. Today netizens feel that someone is listening to their conversations.

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Decentralization of Data

Today, the data we produce is no more ours. The things we say, write, our browser history and our likes and dislikes now belong to the big tech corporations. They own our data. They own us. We have become the product.

Blockchain can help us get control on our data. Then we can decide who can see our data. It helps us eliminate intermediaries. This gives us the control on our data.

Again, blockchain is about freedom.

 To conclude, blockchain isn’t only about cryptocurrency. It is an opportunity to decentralize and unify the world into a simpler economic nomenclature.

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