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Merge pull request #412 from Jaza/patch-7
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santisiri authored May 23, 2022
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Expand Up @@ -163,7 +163,7 @@ Sovereign technology, able to operate in peer-to-peer networks, validating ident

Throughout history only three kinds of sovereigns prevailed: the ''sovereign tribe'' where a crowd follows a leader; the ''sovereign king'' loyal only to God; and the ''sovereign republic'' with continental lands governed under one law. Blockchains operating in cyberspace are giving rise to a fourth kind: the ''networked individual''. It’s not a far fetched possibility -- achieving [https://www.amazon.com/Sovereign-Individual-Mastering-Transition-Information/dp/0684832720 personal sovereignty] is already a reality for those who run their finances with bitcoin and other crypto holdings. As investor [http://twitter.com/naval Naval Ravikant] puts it: “You can cross an international border carrying a billion dollars in bitcoin entirely in your head.” This kind of sovereign act is unprecedented even for contemporaneous Heads of State.

The widespread adoption of blockchains is giving rise to a model that initially grew under the shadows of established institutions but eventually will render them obsolete. Blockchains are automated bureaucracies that offer significant financial benefits in terms of transaction costs while abstracting the need of intermediaries. They enable systems of free association that help break the political and financial coercion that governments and banks impose by restricting the right to vote or limiting access to capital. A technologically advanced society can flourish beyond territorial domains anywhere there is an internet connection, with digital citizens becoming part of a new kind of diaspora.
The widespread adoption of blockchains is giving rise to a model that initially grew under the shadows of established institutions but eventually will render them obsolete. Blockchains are automated bureaucracies that offer significant financial benefits in terms of transaction costs while abstracting the need for intermediaries. They enable systems of free association that help break the political and financial coercion that governments and banks impose by restricting the right to vote or limiting access to capital. A technologically advanced society can flourish beyond territorial domains anywhere there is an internet connection, with digital citizens becoming part of a new kind of diaspora.

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