Using Blockchain to run economies

[wouterzeitgeist]

You tell the blockchain what you want and what you have to offer. Volunteers will tell blockchain where the resources are.

So say in Africa a man submits he would like to fish all day. Another man wants to ride his bike. Another family wants to eat fish for dinner. The computer links up all three, so that the extra fish the first man caught, will be driven by bike to the family.

You could have different matching algorithms that are competing just like crypto currencies today.

After time the computer would play a bigger and bigger role, until decentralized anarcho communism could be achieved. Maybe after fighting off the governments first.

[jackg]

There is a problem with this that currently needs resolving through centralised solutions imo.

First, what if you pay a driver and they don't turn up? Who audits your review and makes sure you're not just tainting their name?

Otherwise, what stops you from getting continuous free lifts by claiming your funds back.

Even an escrow, unless centralised, may be bribabale.

[wouterzeitgeist]

If I buy something online, the shop can also take my money and not deliver. Successful shops deliver because it's more profitable long term. So the same problem exists today.

You could have ways to rate people and products, like you have trustpilot now.


On another note. The computer would asks users if they are interested in voluntarily contacting people that have done a transaction and see if things went correctly.

[arwin100]

You tell the blockchain what you want and what you have to offer. Volunteers will tell blockchain where the resources are.

So say in Africa a man submits he would like to fish all day. Another man wants to ride his bike. Another family wants to eat fish for dinner. The computer links up all three, so that the extra fish the first man caught, will be driven by bike to the family.

You could have different matching algorithms that are competing just like crypto currencies today.

After time the computer would play a bigger and bigger role, until decentralized anarcho communism could be achieved. Maybe after fighting off the governments first.

This suggestions needed a long time study since changing the current system will confuse the people who's not familiar in tech world, although it will really play a big role but still I don't think its best time to implement this since I know government are so skeptical to use it for now due to some reasons. For now let them recognize how beautiful the system is since if they find it good maybe we can see it running on the systems.

[ilovealtcoins]

Using blockchain to operate the economy is the application of blockchain to several economic sectors to operate, monitor, cut costs, and reduce human resources in stages. Examples include bringing blockchain into the fields of accounting, auditing, people management, machine management, and supply chain management.
Economic management is not only 1 + 1 = 2 but it is also an art. So bringing blockchain to run the economy isn't really good. If it's artificial intelligence, I can look at this.

[Hydrogen]

until decentralized anarcho communism could be achieved

There have been many social experiments over the last 50 years to achieve anarcho communism. All of them failed. An equal distribution model never works. Some work harder or contribute more than others and always want to be paid what they're worth. Rather than be paid equal to someone who contributed less.

Karl Marx's grave site is funded and maintained utilizing a capitalist format.

Formerly anti capitalist states like china and russia embraced free markets decades ago as the only path to them being competitive in global markets.

The socialist communist dream continues to be pushed. The question is why. What is the motive behind it.

...

I like the idea of coordinating software matching travel routes, cargo and destinations. But don't see what anarchism or communism has to do with it.

[Gozie51]

Using blockchain to operate the economy is the application of blockchain to several economic sectors to operate, monitor, cut costs, and reduce human resources in stages. Examples include bringing blockchain into the fields of accounting, auditing, people management, machine management, and supply chain management.
Economic management is not only 1 + 1 = 2 but it is also an art. So bringing blockchain to run the economy isn't really good. If it's artificial intelligence, I can look at this.

Anyway, like the enquiries raised above. It all running into every involved agent doing their jobs because at one point, there will be an agent that is required to compute and send data or report to blockchain especially as that point may require manual. So that interface between agent and blockchain may be the challenge. Or where figures, data or information entered are not correct where blockchain may not reject or edit computed information. Running economy with blockchain maybe be very secured because of safeguard of files and data stored and accessible because of it is decentralised and that will help in transparency and accountability.

[herurist]

The idea of implementing blockchain can be applied to bank accounting management systems and conventional payments. but not all can easily run systems that are accustomed to using financial records and are forced to switch to using the blockchain system. indeed the solution to knowing every type of payment transaction. but will the party accept gracefully if all blockchain use will solve transaction bottlenecks? all need to coordinate to make decisions.

[Ucy]

Not a good idea to allow a system based on anarchy to make decisions like that. I prefer this to happen on satoshi-type Blockchain, with good rules/principles plus reputations. Every decision on the chain has to be guided by the rules and the system has to be transparent and open to public.

I think the anarchy  method could be tried in places like hell by the developers. It's the kind of thing lazy minds develop... Reminds me of game theory or something like that.

[Theb]

I wish that it is simple like how you explained it but in reality the fisherman will be factoring in the price, supply, and demand for its fish as well as the biker who will deliver the goods other than that they also need to consider the competition for the same resource without someone enforcing or overseeing this kind of application towards the blockchain I don't think that it will be an effective solution for the economy as there is a lot of holes to be covered before it can be fully operational.

[slapper]

The world might end up in either centralization or decentralization. And I even see that the world will have both of the elements.

Blockchain is good but in order to reach that level, lots of expansion are required. Besides, IoT can do this better than the blockchain. Blockchain in fact is only suitable for decentralization. If one day IoT can cooperate with blockchain techs, our world will definitely become a better place

[AicecreaME]

This would only work if this would be controlled by someone, meaning it should be centralized, and meaning if it is centralized, it could be manipulated, corrupted, and other bad things that they do inside the Government. Economics being manage by the Blockchain is indeed revolutionary, however, the downside effect of it is too risky, having decentralized technology is our only hope to manage our own money away from corrupt politicians.

[ilovealtcoins]

Using blockchain to operate the economy is the application of blockchain to several economic sectors to operate, monitor, cut costs, and reduce human resources in stages. Examples include bringing blockchain into the fields of accounting, auditing, people management, machine management, and supply chain management.
Economic management is not only 1 + 1 = 2 but it is also an art. So bringing blockchain to run the economy isn't really good. If it's artificial intelligence, I can look at this.

Anyway, like the enquiries raised above. It all running into every involved agent doing their jobs because at one point, there will be an agent that is required to compute and send data or report to blockchain especially as that point may require manual. So that interface between agent and blockchain may be the challenge. Or where figures, data or information entered are not correct where blockchain may not reject or edit computed information. Running economy with blockchain maybe be very secured because of safeguard of files and data stored and accessible because of it is decentralised and that will help in transparency and accountability.

Managing the economy with blockchain will make everything transparent, which saves administrators a lot of time and money. It can be said that blockchain will help human development faster a few decades or a hundred years if blockchain is applied to governance on a worldwide scale.
The application of blockchain is also a minus point because countries need some tricks to guide their country's economy. Therefore, blockchain can only be applied in some economic stages.
The adoption of blockchain will also make some industries disappear such as accounting, auditing, data storage staff ... The question is, where are we going to take those who have expertise with those jobs.

[franky1]

blockchains best case usage. is where each transaction has a multiple use purpose.

imagine it like you go to a car dealership and you order a new car. the colour and seat type. and you pay.
that transaction is on the blockchain.

the car factory sees the blockchain that dealership requested Xcar. and also the blockchain becomes the vehicle registration and reference for maintenance and warranties and also tracking for the 'autopilot' to set the destination delivery from factory to dealership

if its just used for one use cola bottle purposes. then the blockchain would need to prune the data after the natural expiry date of the bottle
EG batch 127e34543 expiry june 24th 2022...
that block just gets deleted on june 25th 2022

[gantez]

This would only work if this would be controlled by someone, meaning it should be centralized, and meaning if it is centralized, it could be manipulated, corrupted, and other bad things that they do inside the Government. Economics being manage by the Blockchain is indeed revolutionary, however, the downside effect of it is too risky, having decentralized technology is our only hope to manage our own money away from corrupt politicians.

If the economy runs on blockchain, it has more possibility of being decentralised than for centralised because blockchain isn't controlled by anybody. The economy will be on a free market atmosphere since maybe the government will have little to do about it. The banking sector will be more prudent because of financial security that blockchain will broadcast, this can reduce fraud.

[el kaka22]

Blockchain could be used in a way to connect people, however it is a more of a software to allow p2p to work better for security and that is best at finance, of course it can be used in other areas, look at how great it is going for NFT which is still related to finance but it is NFT so it is basically paintings sold on auction type of deal.

So, it is possible to build more things using blockchain if you want to, it is possible and if you think people will benefit from it and people will use that's possible, you can build it, and if people do end up using it that means it will work and it will be great. However, how many people will download something that will allow them to connect with people and tell what they will do that day? You have to convince so many people to download and do that, which will be a hassle and it wouldn't really work for free, which people prefer.

[hugeblack]

I do not know what is the relationship of communism with blockchain and fishing, but let's say that the current form of Blockchain based on POW or POS is what enabled the decentralization.
Do we need decentralization to be the primary form of funds or to hedge against some central system problems? Centralized systems are effective in reaching as many people as possible, but they make those who believe in money poor.
Some countries have succeeded in the problem of financing with central solutions and by using the simplest applications on old phones and SMS. So the problem of funding is not decentralization.

[dikistutmazsabri]

There are many projects on blockchain. Blockchain is a technology that can give very good results when used correctly. The most important thing here is that we understand blockchain correctly and use it in the right projects.

[crzy]

Blockchain is way broad than what we expect but don’t ever think to see blockchain works on your daily basis like serving foods to you or to give options like that, that’s not how simple it is. Blockchain can’t be accepted by the government because it gives transparency and we all know corrupt officials wont allow that to happen. If blockchain will be totally adopted then it will still be regulated for the benefits of the government of course.

[Scripture]

Transparency is a big issue of every government and imagine if they use blockchain technology, it can expose many unnecessary transactions and that’s why it is being prevented on many countries. Yes, blockchain can help the economy but I don’t think government will totally use it.

Well, in some private companies like manufacturing, using blockchain can be a big help, I’ve read a news with regards to this one and I think private companies are slowly adopting blockchain.