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Why Blockchain-esque federated trust tech might not be a nirvana in waiting

Is the blockchain a tool for or against democracy in the long run? Some thoughts from Tom Loosemore and The Economist.


The Economist also has a nice infographic of the blockchain mechanism which I am posting here.

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My question would be “is democracy as we think of it even desirable?”

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Even if anarchy is the goal, some type of bureaucracy will remain needed for the foreseeable future. A real (Swiss-style) democracy is still a good way to manage this.

I agree that representative party-dominated democracy (aristocracy is a more correct word) should become a thing of the past.

Democracy is a generic term. One ought to expect – at least – transparency-- in transactions and societal endeavors. Each country’s definition of democracy differs. For some it may be honest elections only. For others it may be honest elections -plus- the protection of minority rights. For some it may be the control of interests that can corrupt the system such as big money and powerful groups added to the honest elections and minority protection… It really does not matter since no country practices a democracy in which all these criteria work.
So one is left with transparency with no hidden agendas and hidden people pulling strings. Strings may be pulled like a puppet, but one ought to be able to identify the string-pullers.

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