In this article I will share my own opinion about the recent developments on the phenomonem blockchain technology and cryptocurrencies. I hope it will reach as many people as possible because I think this could possibly be THE most important innovation in the history of mankind. Let me state first that I am not an expert on this topic, I’m just a tech-enthausiast with a big interest in science and the development of mankind as a species. So please do your own research before proceeding and making any life-changing decissions based on information in this article.

The past few months the common people in the world have been introduced to blockchain technology and cryptocurrencies. A year ago almost nobody had heard of it, and also the news did not talk about the blockchain or cryptocurrency on a regular basis.

Now, in the beginning of 2018, almost not a day goes by without A big headline about blockchain technology or cryptocurrency posted in one of the major news channels.

So what’s new, why all the attention all of a sudden to this new technology?

Basically the blockchain is not very new, the first publication about this technology was in 1991 and the first whitepaper which implemented this technology appeared in 2008 written by the group or person named Satoshi Nakamoto. This was a core component of the cryptocurrency Bitcoin. Since then many new implementations of a blockchain have been developed (Altcoins) and have lead to a whole new industry, the one of cryptocurrencies.

 

The cryptocraze of 2017 (and later)

 

The trust gap

 

Historical evolution of social trust systems used by humanity

Age of Sapiens (Stone age)

This is offcourse the beginning of the evolution of the modern man and where we as a species began to develop societies which needed to work together and thus the need of social trust began to develop. In this stage we where living as groups of people that, to survive, depended on the hunters and gatherers of the group to collect enough food for the group in order to survive. In essence we trusted our survival to the best hunters and gatherers. On the long term the smartest ones developed new tools which in turn brought bigger yields to the group, that allowed the community to become bigger. Let’s call this level of trust Sapien-trust.

 

Agricultural age (10.000 BC)

 

 

Age of empires and kingdoms

While decromcracy was invented by the Greeks around 400 BC, During the age of empires it was mainly overwhelmed by the the expansion driven empires that formed during this age.

We trusted our survival to the strongest emperor or king that could conquer the biggest territory and keep out the most invaders. So we trusted the kingdom or empire that we lived in to provide for all our needs to survive. Lets call this Emperial-trust.

 

Age of nations

In this age, the one we currently live in, we have build big institutions like the ministries and departments of justice, economics, labor etc., Central banks and things like the United Nations. These institutions are founded to, in many ways, protect the wealth of the people. So in the modern world we trust these institutions for our survival and well-being.

I would call this Institutional-trust.

 

Age of the people (or total enslavement..)

This is the coming age, that is unfolding right now.. Here we have a choice as humanity to take back control and form societies around a system that would provide a way to let the people decide what would be the best course to develop the world, thus to survive. Fortunately for us, we now have a technology that allows mankind to put in place such system and it’s called… The blockchain!!

Or, we could let our institutions, who now have the power to decide this for us, make these choices. IMHO this would be a very bad thing and would almost certainly lead to the enslavement of mankind in the very near future (without us, the common people, even knowing we are being enslaved..).  I say this because I see more and more manipulation of news, gouverments (or their officials) that try to corrupt markets in their own benefit and big institutions failing to do the task that they exist for in the first place. Also

Trustless….(or manipulated trust)

 

 

Corruption in all trust systems

 

Solving major problems of mankind

World hunger

 

Energy crisis

 

War in general

 

Freedom of rights

 

The technology waves and our slow gouvermental systems

 

Conclusion