Libertarianism is alive and well and prospering on the Internet. The world of cryptocurrencies and the sub-culture surrounding that world is made up of many dedicated libertarians. This new generation of young libertarians (mostly millennials) is pushing back against centralization and globalization. These young men and women recognize the latter as threats to personal freedom, privacy, and the free market.
The Back Story
If memory serves, it was 2008, when Satoshi Nakamoto wrote his seminal paper entitled: “Bitcoin: A Peer-To-Peer Electronic Cash System.” The underlying technology that supports Bitcoin and other cryptocurrencies is blockchain technology. I recommend every libertarian or conservative in America read Mr. Nakamoto’s paper. If not the entire paper, then read the abstract and introduction several times. The abstract and introduction, while necessarily brief, contain an implicit call to arms to “creatively destroy” the centralized financial institutions, both public and private. These institutions asymmetrically reap excessive rewards for work essentially clerical.
Centralized Organizations And Intermediaries Will Become Things Of The Past
Any industry that requires absolute trust and verifiability in its supply chain is a candidate for the use of blockchain technology. This transition to blockchain technology to automate and streamline supply chains is gaining momentum worldwide. The technology will provide an immutable record for all aspects of our lives. We will be able to track and store data without the aid of centralized institutions and intermediaries.
For example, blockchain technology can be used to record, store, and track financial transactions, medical records, land titles, and even voting, to name a few applications. As a result, the cost of doing business will dramatically decrease for many individuals. In addition, the integrity of systems and processes in our society will be greatly enhanced and strengthened.
A Free Society Requires A Right To Privacy
I believe the right to privacy is a foundational principle in a free society. The use of blockchain technology will facilitate restoring this right to privacy.
I hope the rise of Orwell’s Big Brother can now be stopped; I believe that blockchain technology will enable us to do. America will have to take the first arrow in this battle because she remains the only beacon of freedom on the planet.
Links
Internal: https://whitebeardwisdom.com/all-power-can-be-dangerous/
