To those who are interested in the
future,
I want to put in writing the essence of what I’ve absorbed from the books
The Breaking Point by James Dale Davidson, and
Blockchain Revolution by Don Tapscott and Alex Tapscott. I realize this may take some time to digest—especially the information found in
The Breaking Point.
Most of the information for the first book was compiled in 2015 with some more recent references added as it was published in 2017. It does not, however, take into account the accelerated collapse of the US government institutions in the wake of ongoing political chaos. To the point of our own personal interest (or anyone’s for that matter), I was able to find over 22 concepts supported by historical facts which I feel add a basis of critical reasoning in support of (consistent to) blockchain technology as a whole, which includes our specific interest in viable currency alternatives. As you read, you will draw the connection between centralized government systems/institutions and an increasingly high rate of failure of those systems. As you read
The Breaking Point, keep in the mind the miracle and core function of the blockchain and blockchain applications, which is to decentralize processes of value and to democratically redistribute those value processes back into the hands of the people.
The Breaking Point is a fascinating read on its own due the blunt truth of what it reveals. It exposes a terminal velocity that is undeniable which we as a modern society have ignored. Specifically, it expands upon “mega-political” constructs and how those concepts have both framed and constrained our “critical problem-solving skills” to the narrow path of “centralized” systems.
The key accomplishment when reading
The Breaking Point is to do so with blockchain functions in mind. And as you read, to mentally try solving the issues in reference by the application of a “decentralized block chain.” Fortunately, we have the privilege of being pre-informed of the exercise because we have already read
Digital Gold by Nathanial Popper. Even without reading these two books, the whole world can easily observe how centralized processes grow huge and inefficient while at the same time funneling power and abuse to the top, surrendering interest into the administrative hands of those few who own and control the centralized system. There are many such warning signs that we need to decentralize. Even in our private affairs, we need to look no further than the recent data breach of Equifax. Realize, in turn, the viable solution to that particular central data failure by a company which already successfully uses a blockchain data process; that company is LifeLock. It’s good if you, or anyone, have some exposure and understanding of blockchain and its potentials before reading
The Breaking Point because reading it by itself would leave one with a desperate sense of exasperation due to the lack of practical, real world solutions offered by, or at least spelled out by, its author. The book is extremely informative, but is a little thin on solutions which meaningfully congeal; that is to say that for the vital exposé of the failures of the centralized systems and institutions, Davidson draws just short of explaining the profound implications that blockchain technology holds in solving those issues. Perhaps this is due to the timing of his writing, most of which seems to have been completed by 2015.
Ethereum was introduced not only as a cryptocurrency in late 2016, but more importantly as a public offering to provide and promote blockchain solutions and applications. Ethereum’s contribution to the world is its open development as a
solutions-based platform. As such, Ethereum’s value is well deserved and its rise is less due to forces of speculation than to the fact that its full potential as a game-changer is appreciated by the well–informed. A comprehensive education of the technology had not been widely articulated until late 2016 by Tapscott and Tapscott’s book
Blockchain Revolution. Davidson did mention cryptocurrency probably partly because Peter Theil is one influence within the circle of those who inform him. I have personally always been a fan of Davidson’s (and Mogg’s) writings since Blood in the Streets. I’ve read every book they wrote and have profited as a result. At this point, however, I strongly recommend that one must also consume (intellectually internalize)
Blockchain Revolution as
required reading. The combined information of both books together is priceless and essential. I can’t image that a crystal ball would be more informative.
By itself,
The Breaking Point richly describes the historical connections in which violence and political power have been the unavoidable ruling realities of economics and wealth.
The Breaking Point is accurate, but also critical (and understandably limited) of any solutions which do not offer much practical advice outside of the “preppers” mentality to stock-pile seeds for growing food and to buy gold. That said, Davidson is unmatched in his assessments of the past and what the possible outcomes of the future should be in the absence of viable solutions. Davidson successfully advocates a return to a more “organic economy and lifestyle.”
To augment a reasonable path of survival,
Blockchain Revolution continues solutions which respect humans’ higher cognition of good governance by the core values of cooperation and democratic ideals (as expressed in the very important film I Am. After reading
Blockchain Revolution I find myself no longer willing to so easily concede to the old paradigms of economic forces, no longer am I left to embrace dystopian concepts of violence and greed as the only dominant forces of our future. There are strong, intelligent, and very informed voices who champion the advances in humanity’s nature (of both libertarian and democratic ideals) such as the ability to find and use technological means to adapt, all while enhancing the privacy and security of the individual.
One must read both aforementioned books to fully appreciate the contrast between centralized systems of control versus how a decentralized citizenry will function. The analysis is clear as Davidson reveals the deliberate mislabeling of key evidence proving that centralized systems are catastrophically failing.
To the brighter side,
Blockchain Revolution is a potential unveiling of what will no doubt become one of our species’ “a-ha moments,” moving us towards real democratic cooperation and survival. At this point in history, we are just now beginning to grasp the true significance of this type of data processing and value distribution. Decentralized data as a superior form of social adaptation and governance can now be verified through a new lens of logic. We are now at a foundational tipping point of how we will exist. While Davidson reveals the bold-faced failure of centralized power,
Blockchain Revolution is the introduction in how to function in a way never before possible via individual service solutions. These are made possible
only by blockchain applications. “Top Down” power structuring has always been a part of humanity, but it also has always been the terminal point of societal failure. There has never been a single ruling government construct which has not eventually failed under its own weight. The question is when should we stop pretending that America’s fate will be different?
About now. This “now” time between the past and the future; let’s take an honest look. The world’s trust for US-based systems and institutions are ending. From our general security and right to manage upon on a global stage, to our financial system and the hegemony it provided us across the world—all are rapidly failing. As this happens, other systems, currency, and other forms of organizational processes will take the place of the US dollar, and by necessity, many other centralized systems as well.
Even though it may have not made sense in the past to own cryptocurrencies, the fact is that if one had only done so (purely on the basis of the above stated principles), we as individuals would now be completely solvent and sovereign today. Ethereum as a solution concept was co-developed by many, such as the authors of
Blockchain Revolution (Tappscott and Tappscott). Ethereum has gained 2,400% in the first nine months of its release (and now look at it!). It is an objective and value-based currency and will only continue its trajectory. Those same facts and principles which created its value, are even greater and more relevant now than they were when cryptocurrencies first began. In short, mature and proven digital currencies are vital to everyone’s financial future, even more than gold, because gold is simply not practical as a common means of exchange.
What is
critically important to realize from this point forward, is that the very nature of money is
changing. In blockchain, decentralized consensus of value and distributions now become the utility and full powers of money and will no longer be placed in the abusive hands of the top 1%. Money will be, for the first time in history, a product of the people, for the people, at a societal scale. While at the same time, equally individual. Humanity is yet to absorb the new reality of how blockchain technology changes the rules to favor the individual. Privacy is the jealous envy of all centralized authority for it is also the cornerstone of personal safety. Thus, the measure of privacy is directly proportional to the realized safety of the individual. Likewise, the measure of an individual’s resources is also directly proportional to the extended freedom of that individual, and to what freedom(s) that individual experiences. The importance and personal nature of these concepts are all but lost in the hierarchy of political chaos which dominates the news feeds today. Centralized authoritarian control of resources violates privacy and further disempowers individual freedom. Decentralized blockchain applications do just the opposite. Blockchain provides a democratic majority consensus of value that is incorruptible by any privileged minority seeking to gain control. It provides transparency to subjects of majority consensus, while at the same time guaranteeing privacy in all types of personal data.
When systemic collapse happens in any form, it does so as an exponential phenomenon. Destruction is practically immediate as compared to the time and cost of putting something worthwhile together (see
The Breaking Point, pages 162-171). To apply this principle to our economy as we now know it, there are two primary catalysts. The larger the system (such as the US economy and its dollar), the more glue it takes at its core. ANY economic system requires the following: 1) established faith (based on history) that it will continue and 2) a lack of a better alternative to the status quo. We are now unique in the progress of human history because for the first-time, factor #2 is now being addressed (and solved) by cryptocurrencies as a viable alternative when factor #1 (faith in the US dollar) is no longer a fact.
When was the last time ANY government’s currency actually went up in value as more of it was released to the public? It’s a serious question that deserves an equally serious analysis of why any currency has value; namely how useful it is and to who? Debt is really NOT useful to anyone, except the centralized banking system—which proliferates it. What has actually happened to certain mature and solution-driven cryptocurrencies such as Bitcoin/Bitcash, Ethereum, and Litecoin (and our new favorite, Cardano
https://cardanofoundation.org/), is not merely a speculation bubble, it’s actually a new hybrid of economics and social science which is proving itself. As this inevitably takes form, and as the uncomfortable reality of eroding faith in current centralized economics systems manifest, we will almost certainly witness the demonizing of the most viable and logical alternatives. Especially if those viable options have a proven maturity and a distinct advantage of removing the crass privilege of distorted centralized power.
As humans commit energy towards survival, capitalism should never be allowed to become just another predatory sport of power dominance. It is a deceptive mission of suicide if we do continue this path. Lest anyone dismiss these implications, I personally recommend to view the film I Am (
http://www.iamthedoc.com/thefilm/) and let us challenge ourselves to a new, but ancient intellectual honesty. The western world’s approach to wealth and power has run greed’s course and ironically we find how a new technology, and way of data, has found its timing to serve the greater interest instead of the few. Money is not what it used to be. As a societal tool, we finally have the means to make its purpose and management transparent while private in its individual ownership. For perhaps the first-time, money and value data can become a truly ethical component of humanity instead of the corruption of it. The real-life implications of blockchain technology is barely understood by most, though it is already shifting the polls of economic and societal function.
Individually,
The Breaking Point and
Blockchain Revolution are vital reads, but together, they are a well-articulated dawn of new understanding. Separately, the authorships come from what is obviously an incredibly divergent belief process. However, both books arrive deftly upon the same truths of our future. Though they may take a personal sacrifice of time, your investment will place you safely among the most informed in the room. And like any nourishment, the intellectual form is best absorbed with patience and giving time to digest. The future of your well-being will see the results if you do.
Blockchain Revolution is also a reminder that people’s better nature will naturally express itself when there are tools to help it do so. Good or bad, technology has always served to be an extension of who we really are. Blockchain helps us to profit more by actually setting aside our personal greed because built into it is the process logic of how to preserve the integrity of transactions to our life. Blockchain technology represents within its architecture, a code with very
ethical qualities. It is a machine language which favors the doctrines of diplomacy and individual sovereignty.
My final thoughts simmer upon certain conspicuous evidence; a specific currency type (crypto) has actually greatly increased in value, even as more of it has been produced. And it has done so purely upon to holistic factors of its need. Also, note that this is going on while the status of the US dollar as the world’s default currency is eroding. This is but just one startling sign of a paradigm shift away from the old economic markers of inflation. We must not ignore that it takes nothing short of a groundbreaking innovation to accomplish such, and yet indeed it has. How to understand why this is happening is exactly spelled out in
Blockchain Revolution, helping to put one’s predictive finger in the air and measure which direction the wind is really blowing.
It may be time to change what is written in our human code of understanding, and it may especially be time for us to change our reference constant, accepting that
change itself is the final iteration of life’s hash.
Emerald Swan
