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RE: Now here is a refreshing take on an old story

in #inequality • 9 years ago (edited)

If you are thinking far ahead then you should see that the point is not the crypto but the token economy. Even governments around the world adopt the blockchain tech. Remember the blockchain is FOREVER. They love the way entries are set in stone. They can track anything, anyone. Sweden, Estonia, USA, Switzerland, Japan all started implementing them. Banks like the Mitsubishi of Tokyo and Santander UK are working on issuing their own tokens as we speak.

We already have value creating economies. That is a bogus term. The only thing that will change is the way the value is transfered. The technology—which is decentralised token systems.

It is similar to upgrading from SATA drives to SSD. The point remains the same..storage— Is just the latter has more benefits than the previous one (although the old one has an edge still on a few things).

9 years ago in #inequality by
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     9 years ago 

    To use your semantics then...
    When a real economy is tokenised I see the potential for it to be more inclusive by the way value is transferred. Also if it correctly designed and implemented then there are less parasites to suck value out of the economy.

    The parasites generally siphon out the portion that would do the most good at the grassroots level.

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       9 years ago 

      Perhaps you should think along the lines of fee-less micro-transactions. Fiat systems are expensive to operate and slow. That gives fiat systems the excuse to charge fees and that burden usually falls heaviest on the ones that can least afford it.

      You mean like gas in ethereum? there is a transaction fee. Scale any blockchain enough and you get a delay time as well. Sure it can be worked out but so as well with FIAT. also don't forget. you can have a crypto token backed up with FIAT currency. the two are not mutually exclusive. Also security. there is an insurance (usually up to 100.000) for the small guy in the bank. not such thing is the crypto world. so as far as the "small guy's" interest goes, he is better of with the fee/protection.

      The token economy is peer to peer... no third party required and hence no exorbitant parasitic fees.

      I am sure that by now we have all figured out that there are plenty of third parties in the token economy. ask vitalik to name ones or that mysterious guy in the netherlands that somehow is in charge of all major updated of Bitcoin.

      Token systems also give identity and reputation to sectors of the population that are informal and identity-less.

      Reputation already exists under government. i wrote an entire article about it. Actually in th token world, and as far as we have seen so far with various tokens the littl guy is better of there. again. so far.

      The current unidentified and unbanked.
      this actually helps my argument. also, once in the blockchain, always in th blockchain. at least with conventional means you can erase your identity. in the tokenised systems your identity is there. forever.

      Those that, under current systems, are totally ignored... perhaps not much of a problem in the US but maybe you should come for a visit to Africa or the rest of the third world.

      I am not American. I actually lived with aboriginal people in Australia and i know first hand what poverty is. These communities have their own token systems, in their own way. The technological leap is way too advanced even for the average western computer user to jump into it. you can't expect the impoverished that know very little about computers to adopt this.

      so no. absolutely no advantages so far other than governmental hard-filing. the only ones that would wish a reputation system are the ones on top. try to open an account in steemit with 0 rep and lets talk again about how the unidentified reputation will work for you.

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