Humanising The Blockchain

Three Tensions

INTERNET OF VALUE : Humanising the Blockchain 

It is important that we humanise the blockchain. This can be a difficult concept to grasp hold of given how it has been developed and the headlines that have been attached to it. It’s easy to relate the blockchain to transactions, for instance trading values. Yet when you’re talking about humans, it’s too complex, yet it is the most important question that we have to be asking.

 

 

THREE TENSIONS

 

1 | Fragmentation Vs. Network: The Need For An Internet Of Value

For the blockchain to deliver true value, you need to connect different ledgers together. Because you’re aggregating the various parts of the blockchain and all value is authenticated. IoT and web services. AI - becomes the basic engine. Yet this is where tension occurs. For true value to become a reality, you require buy-in from all parties, otherwise you’ll end-up with lots of fragmented chains.

 

 

2 | Trust Vs Trustlessness

Blockchain is trustless by design, to deliver a new type of trust. A new type of trust that we are not familiar with, nor are traditional institutions built upon. There is no point using blockchain in the same frame of mind of our existing economy and system.

 

 

3 | Centralisation Vs. Decentralisation

Blockchain by design decentralises power. Yet there’s tension in that if we want to make sure blockchain is used for good, there is a need for a central authority to provide the guiding rules and principles.