Decentralized Network Governance: A Blockchain Utopia

Asia Blockchain Review
June 23, 2020

This article is all about harnessing the utopian ideals of Blockchain as its decentralized nature has the potential to save humanity from its own self imposed limitations.

As people from countries all around the world emerge from the post-COVID 19 lock-downs in their respective countries, they are faced with the prospects of a treacherous ride on the path to economic recovery.

During the period of lock-down, we have had ample time to engage in some solitary introspection and to reflect on our earthly existence as well as the fortunes of humanity to which we are all inextricably linked.

Emerging from our introspective voyages, the first central theme which arose is the utility of digital connectivity in allowing us to conquer the physical boundaries and distance which stand between us.

Additionally, the second central theme is the demystification of the illusion that governments always know best for now we realize the truism that in times of crisis governments can be as helpless as the ordinary citizens under their rule.

Combining the two central themes, we find that there is a palpable need for a new form of governance which transcends the limitations of human beings by leveraging digital technologies such as blockchain to establish a form of ‘suprahuman’ governance which takes us closer to realizing the futuristic concept of technological utopia.

The concept of utopia originated from Sir Thomas More’s 1516 book of the same title whereby the term “utopia” was derived from the Greek word “eu-topos” which means a good place.

Accordingly, technological utopia refers to a world in which technological advancements are utilized to enhance our living conditions in an idealistic manner or to put it simply the use of technology to make our world a good place, or a better place if it is deemed to be already a good one.

Lessons from the Internet Boom

In times of crisis, the systemic weaknesses of a centralized form of governance are manifested as clear as the light of day. Notwithstanding the modern day label of democracy and its rhetorical pretext of the will of the people, the centralized model of governance of most public administrations is very much imbued with the notion of “state above all”.

Although technology is politically neutral, the efficient use and structured development of a technological tool is heavily dependent on the prevalent form of governance under which the technology is deployed.

For example, the epitome of humanity’s digital technological development i.e. the Internet started off back in 1991. In the short span of six years, the immense potential of the Internet led the United States’ Federal Communications Commission (FCC) to hail the “endless spiral of connectivity” brought on by the Internet in the FCC’s 1997 whitepaper titled “Digital Tornado”.

Fast forward to 2020, issues such as cyber frauds and fake news are engulfing the Internet in a sort of perennial trust deficit with the dark web threatening to turn the Internet into a retrogressive digital portal which transmigrate humanity back to the dark ages.

Not unlike the early years of the Internet, blockchain is driving the growth of startups and stimulating dramatic levels of investment while generating lots of media hype and public attention.

Tune in for the second part of this article to discover how blockchain can avoid the pitfalls beleaguering the Internet through the use of a decentralized governance framework, one which is driven by the technology itself.

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