The advent of the blockchain must allow a real economic and societal revolution, but we are still far from knowing in which direction it will go. According to some researchers, this technology could lead to a more open society as well as a technocratic dictatorship.
According to blockchain aficionados, this technology could crown the advent of open and decentralized financefinance. Rather than going through central agencies, it would allow individuals to exchange values on their own. A nice idea?
The five hypothetical future of the blockchain
Some experts have serious doubts. This is the case of Sarah Manski, doctoral student at the University of Santa Barbara and specialist in this technology. In his article No Gods, No Masters, No Coders? The Future of Sovereignty in a Blockchain World, it considers five scenarios, more or less catastrophic.
In the first, each individual would become an entrepreneur on his own, in competition with all the others. All social relations would be regulated by the law of the market, with the bonus going to the most influential. A libertarian future, therefore, which would lead to the pure and simple disappearance of the notion of the State.
The second scenario imagines a technocratic sovereignty in which institutions and actors in the crypto sector would use the blockchain to remove the GAFAM. Sarah Manski describes the creation of a myriad of autonomous and decentralized organizations.
In the third, corporations like Google or Facebook would change their model to also distribute tokens to their users or developers in exchange for their data and services. According to the old adage “winners take all”, the giants would strengthen their power.
In the fourth scenario, technology would allow states full control over economic, social and political activities to create the first techno-
Finally, the last scenario imagines, on a more positive note, a future where the distributed registers would allow the real emergence of the collaborative economy in which block chains would be used for the common good with the creation of agricultural or energy cooperatives.
This table would not be complete if we did not consider that the blockchain could make these five hypotheses cohabit.