Saturday, May 19, 2018

BLOCKCHAIN INTERVIEW QUESTIONS PART 6 - What Blockchain can do

The blockchain is so much more than an isolated technology using advanced forms of cryptography and a crowdsourced ledger system. And it’s not only about efficiency or effectiveness… doing things 20 times faster or saving money - it enables people to organize themselves in new and different ways. 

We can replace companies like Uber that are structured to put all the risk in the hand of the drivers while huge profits go to the top with companies where the drivers own the blockchain and own the company, hiring managers to maintain the system. Every mile is driven into the blockchain, rewarding the driver who puts in the work. 

We can create bulletproof voting systems which can result in direct democracy unlike we have ever seen before in society. 

We can replace some companies with many people with companies with few people that are run on pre-determined rules – called DAOs and DACs. With no employees, there’s no theft, graft, profiteering, fraud, bribery et al. 

The blockchain can pave the way to a future where corruption is crushed and a social consciousness is nurtured. 

With the blockchain, we can build organizations with measurable social responsibility and a memory to keep track of their deeds! 

The blockchain can store all that and no one can erase it.



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