Vitalik Buterin Promotes Future “Crypto State”
Last Updated on 8 October 2020 by CryptoTips.eu
Vitalik Buterin, CEO and founder of Ethereum, is usually quite technical and theoretical on Twitter and other social media channels. Earlier this week he was very clear though when voicing his apparent approval for Portuguese Author Bruno Maçães, and his interesting essay, entitled: Crypto State?
Belt and Road
Maçães, famed author of political books such as Belt and Road and The Dawn of Eurasia featured on this site a few weeks ago already when he, just as we did, failed to see interesting similarities between the far-right conspiracy theory QAnon and Bitcoin, a tale first brought forward by the business newspaper Financial Times.
.@MacaesBruno's take on the future that blockchains/crypto might bring. https://t.co/bndMfDFTIO
— vitalik.eth (@VitalikButerin) October 5, 2020
This time round, Maçães released an essay on a possible futuristic state not ruled by any government or elected official, but simply by the governance model put forward by blockchain.
He claimed:
With Bitcoin, we have seen the advent of a new global infrastructure, where data and transactions can be endlessly recorded in a trusted blockchain ledger, without any of the usual intermediaries: no large multinational corporation captures the data, no banks are involved, and no state authority can tamper with the record.
Disputes within the community are automatically settled by the existing ledger, which takes on the role of paramount authority.
Chainlink
Upon further reading Mr Maçães makes various interesting propositions. He also mentions the Oracles used by Chainlink as a smart solution to come to a democratic agreement among peoples in the future.
Can the crypto state exist without crypto citizens free of political control?
— Master (@mike_master_q) October 6, 2020
If the answer is NO, then stay away of Google and Facebook. We should rather use proof-of-person based identity system like @IdenaNetwork
His quote:
As Sergey Nazarov has argued, just as a smart contract needs to be extremely reliable to be useful, so the external data fed into the smart contract needs to be extremely reliable. What makes no sense is to have a centralized oracle feed data into a decentralized network.
According to the founder of Chainlink—one of the hottest companies in the crypto space right now—blockchains and oracles can both produce “definitive truth.”
Problem of course remains that any able hacker or any futuristic mind could take over the ledger and then we are back to the original theorem of AI, for which many tech behemoths in Silicon Valley are fearful, or as Elon Musk once put it on the Joe Rogan show.
I tried to convince people to slow down AI, to regulate the AI, this was futile. I tried for years. Nobody listened.
Interesting times indeed make for interesting ideas.
