Reshaping Societal Models and Transforming Governments with Blockchain

Opinion

Reshaping Societal Models and Transforming Governments with BlockchainIn an interview with DigitalBits at this summer’s Blockchain Futurist Conference in Toronto, Toni Lane Casserly, ‘artpreneur’ and founder of CoinTelegraph, provided some interesting insight about the impact of blockchain on civilization and transforming governments with blockchain.

Toni, who presented at the highly successful Blockchain Futurist Conference, spoke about the notion of citizenship and identity and how we need to move away from the model of identity to create a more harmonized society.

I believe that if we translate the process of identity away from the model of ownership and into a model of stewardship, we will actually have a bit more harmony in our relationship to who we are and how we understand others,” Toni Lane Casserly said in the interview with Digitbits.

Rather than identity being created by a person’s nation, people should be able to own and choose their identity. As Toni comments:

“You should have the ability to own your identity, you should have access to that right.”

Transforming governments with blockchain

Through technology, it can be argued that the model of identity can be changed, and transforming governments with blockchain is just the start.

Kevin Werbach, a Wharton professor of legal studies and business ethics, spoke about blockchain being one of the “most significant, fundamental advances in digital platforms since the internet.”

In many ways, the parallels are striking,” said Werbach.

This is a new infrastructure baseline technology that can lead to lots of benefits — also, it has lots of problems. Blockchain is now the source of a great deal of fraud, of illegal activity and regulatory arbitrage, but it is also sparking innovation across the world in all sorts of areas.”

Werbach notes how blockchain is not about money, nor is it about “destroying governments and replacing them with purely private, decentralized systems, even though it is a system that creates a new kind of decentralized infrastructure.”

“Fundamentally, blockchain is about something deeper than all of that. It’s about trust,” said Werbach.

Creating a ‘shared environment’

The Wharton professor refers to two broad approaches involving blockchain innovation – the crypto-economic system, such as bitcoin and other virtual currencies, and the permissioned systems where participants all know each other in a “shared environment.”

According to Werbach, in this shared environment, “no one’s in control [and everyone has the same copy of the ledger]. It’s still decentralized but [participants can] much more efficiently use that shared ledger.”

While Werbach and Toni Lane Casserly’s thought on how blockchain will shape the future are by no means mirrored, they both share the same underlying message, that blockchain technology is likely to reshape society structures and current government systems.

Though as Toni Lane Casserly notes, this won’t happen overnight.

“The future is never as radical as most visionaries imagine it to be, it always has the possibility to become that, but I think at the end of the day we always end up somewhere in the middle. So, anyone who believes that blockchain isn’t going to change anything is fundamentally wrong and the idea that blockchain will fundamentally change everything to the extent that nothing will be the same is also fundamentally wrong. Reality will happen somewhere in the middle.”

Gabrielle Pickard-Whitehead is a freelance journalist and copywriter based in the Peak District, UK. Since 2006, Gabrielle has followed her passion for writing and has sculptured a rewarding career out of her love for the written word. Gabrielle thrives on creating compelling content related to current affairs, politics, financial news and the latest advancements in technology and innovation. Gabrielle is excited about having the chance to write about the constantly-evolving world of crytocurrency and enabling people to learn more about this rapidly-advancing digital asset.

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