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Authors
Advisor(s)
Abstract(s)
Blockchain technology is changing the world incentive system, making programmable money. This kind
of money is only fruitful and democratically livable in a transparent political environment. Otherwise,
instead of unleashing innovation and collective action with the market’s visible hand of qualified money,
the new internet of value will deliver a digital money with the same algorithmic fate that social media
met on the previous internet. The latter allows digitizing users’ data and has been used to manipulate
consumers and public opinion (possibly in the last two U.S. Presidential elections). Similarly, the former
will let states and corporatocracy cross-reference social media and digital money’s data, hurting privacy
even more. As blockchains disseminate, having the crucial economic advantage of reducing transaction
costs, only free-market competition between private and public blockchains guarantee transparency
and democracy. Blockchain technology is the real McCoy, and decentralizing digital money is the free
world’s best shot, especially in the new normal triggered by COVID-19.
Description
Keywords
Blockchain technology Internet of Value Empowered money
Citation
Rodrigues, D. (2021). Blockchanging money: reengineering the free world incentive system. In D. Rodrigues (Eds.), Political and economic implications of blockchain technology in business and healthcare (Cap. 3, pp. 69-117). Hershey, PA: IGI Global. doi:10.4018/978-1-7998-7363-1.ch003
Publisher
IGI Global