Melanie Swan: Crypto Enlightenment: A Social Theory of Blockchains

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This is a fundamental article about distributed trust and a must-read if you want to understand what is coming. The writer of this article is Melanie Swan a globally renowned blockchain economic theorist, philosopher, and science and technology innovator at the MS Futures Group. She founded the Institute for Blockchain Studies in 2014 and is the author of Blockchain: Blueprint for a New Economy.

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There is something new and fundamental happening in the world which could be the start of the next enlightenment period. The core of this is shifting from centralized to decentralized models in all aspects of our lives, both individual and societally.

…A philosophy of economic theory is necessary since nearly all existing economic theories have taken scarcity as a central precept. These antiquated models configured by scarcity are weak philosophically because they are conceptually limited, and are also weak empirically since there is emerging and existing evidence of situations in the world where scarcity is not a parameter, and not the governing parameter. A ready example of this is digital goods, such as software or digital images, where there is essentially zero cost to producing another unit by copying the goods electronically.

…The crypto-enlightenment includes seeing the potential impact of blockchains beyond the flexible recasting of human economic and political processes; blockchains are singularity-class technologies. A singularity-class technology is a technology for the large-scale trustful automated orchestration of vast and detailed processes. The power of singularity-class technologies, this level of technological orchestration of processes, possibly without our human participation, has given way to the fear of runaway technologies. The fear of runaway technology is in the same form, and persists across all singularity-class technologies, that AIs, robots, nanobots, 3D printers, matter compilers, space terraformers, synthetically-replicating bioengineered life, etc. will take over the world.

Blockchains are a potential solution to the fear of runway technology in any of these areas. The fear of runaway technology can be allayed in noticing that the very nature and design principles of singularity-class technologies, certainly blockchains, and by extension, perhaps any singularity-class technology, are that the large-scale orchestration cannot proceed otherwise than through a system of checks and balances. The key blockchain functionality principles are being a very-large scale automated system of checks and balances where all ‘transactions’ must be validated, confirm via a reputation or other mechanism, employing algorithmic trust and smartnetwork consensus mechanisms.

Real full article here.

About Richard Kastelein

Founder and publisher of industry publication Blockchain News (EST 2015), partner at ICO services collective CryptoAsset Design Group ($500m+ and 50+ ICOs), director of education company Blockchain Partners (Oracle Partner) – Vancouver native Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur.

He sits on the advisory boards of some two dozen Blockchain startups
and has written over 1500 articles on Blockchain technology and
startups at Blockchain News and has also published pioneering articles on ICOs in Harvard Business Review and Venturebeat

Ad honorem - Honorary Ph.d - Chair Professor of Blockchain at
China's first Blockchain University in Nanchang at the Jiangxi Ahead
Institute of Software and Technology. In 2018 he was invited to and attended University of Oxford's Saïd Business School for Business
Automation 4.0 programme. Chevalier (Knight) - Ordre des Arts et des
Technologies at Crypto Chain University and on advisory board of Advisory Board Member of International Decentralized Association Of Cryptocurrency And Blockchain (IDABC) as well as Advisory Board Member at U.S. Blockchain Association.

Over a half a decade experience judging and rewarding some 1000+
innovation projects as an EU expert for the European Commission's SME
Instrument programme as a startup assessor and as a startup judge for
the UK government's Innovate UK division. Kastelein has spoken
(keynotes & panels) on Blockchain technology in Amsterdam, Antwerp, Barcelona, Beijing, Brussels, Bucharest, Dubai, Eindhoven, Gdansk, Groningen, the Hague, Helsinki, London (5x), Manchester, Minsk, Nairobi, Nanchang, San Mateo, San Francisco, Santa Clara, Shanghai, Singapore (3x), Tel Aviv, Utrecht, Venice, Visakhapatnam, Zwolle and Zurich

His network is global and extensive. He is a Canadian (Dutch/Irish/English/Métis) whose writing career has ranged from the Canadian Native Press (Arctic) to the Caribbean & Europe

He's written occasionally for Harvard Business Review, Wired, Venturebeat, The Guardian and Virgin.com and his work and ideas have been translated into Dutch, Greek, Polish, German and French.

A journalist by trade, an entrepreneur and adventurer at heart,
Kastelein's professional career has ranged from political publishing to
TV technology, boatbuilding to judging startups, skippering yachts to
marketing and more as he's travelled for nearly 30 years as a Canadian
expatriate living around the world

In his 20s, he sailed around the world on small yachts and wrote a
series of travel articles called, 'The Hitchhiker's Guide to the Seas'
travelling by hitching rides on yachts (1989) in major travel and
yachting publications. 

He currently lives in Groningen, Netherlands where he's raising three teenage daughters with his wife and sailing partner, Wieke Beenen.

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