Using the blockchain to create a real democracy - Can it be done?

03/23/2015 - 00:00

By Nozomi Hayase | @nozomimagine -

The 2008 financial meltdown and disclosures of secret documents in recent years exposed widespread government overreach and corporate fraud and abuse. As trust in traditional institutions began to sag, global uprisings were spawned to find solutions outside of electoral politics. In the midst of these deep systemic breakdowns of governance, a decentralized solution emerged with a breakthrough in computer science. As the revolutions on the streets began to wind down, perhaps nobody expected the rise of the blockchain.  Bitcoin’s enormous potential for disruption is beginning to be felt in the realm of finance. Yet, currency is just its first application. The core of this invention is distributed trust that enables a platform for decentralized consensus at a large scale. Can this technology help lift us out of the crumbling old world and build a foundation for real democracy?