Blockchain & Governance
The core technology of Bitcoin, the blockchain, has recently emerged as a disruptive innovation with a wide range of applications, potentially able to redesign our interactions in business, politics and society at large. And especially our interactions with government. Although scholarly interest in this subject is growing, a comprehensive analysis of blockchain applications from a political perspective is severely lacking to date. We aim to fill this gap and discover the key points of blockchain-based decentralized governance, which challenges to varying degrees the traditional mechanisms of State authority, citizenship and democracy.
State functions are about to change dramatically affected by the evolution of technologies. To build trust we need governments to be as open, transparent and collaborative as possible and blockchain seems to be the best tool. To demolish bureaucracy we have to streamline citizen interaction, financial transactions and contract management. Blockchain offers a new approach to enhancing transparency and collaboration between governments, business and citizens. By registering assets and recording ownership changes on a distributed shared ledger, the quest for transparency and right to privacy needn’t be at odds. Transactions can be verified close to real time and combined with the extensive use of privacy services make fraud and cybercrime very difficult. Smart contracts — once verified and deployed — will always execute. This all goes towards amplifying transparency, building trust and breaking down bureaucracy between government, business and citizens.
Blockchain and decentralization platforms can be considered as hyper-political tools, capable to manage social interactions on largescale and dismiss traditional central authorities. Our goal is to get ready for technology that we believe has the features to not only change the way people interact with their government, but transform public sector service transactions and delivery.