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RE: Blockchain Is A More Powerful Tool Even As A Mentality-Adjuster Than As A Reward/Income-Distrubutor. @surpassinggoogle

in #steemit6 years ago

Indeed sir @surpassinggoogle, blockchain is more of an adjuster of many things than just a rewards distribution model or mechanism. There lies the reason why I have been captivated with all blockchain technologies (a term used loosely for all distributed ledger technology). Some may ask what is the big fuzz about blockchain technology and quickly dismiss it as a trendy new information technology that, hence, like other technologies before it, will quickly fade into obscurity when another superior technology comes into existence.

However this technology cannot be characterized as just another form of technology but rather, it is a movement, a revolution of some sorts that enables those who has less, be it money, access, influence or power have a say on matters that were and still is exclusive to those who has much more. The revolutions comes in the form of decentralization of power, authority, systems or other centralized structures which present a prevailing weakness: Central point of weakness prone to abuse or failure.

Legacy centralized organization, systems and structures prides themselves as highly efficient that can execute required task quickly and timely manner. Yet I say, at what cost? Too much centralization, too much concentration of power to a few , we have seen, time and time and again can lead to abuse. This applies to all, be it in gender, age, social class, financial status or others. Then there is the issue of single point for failure, of course some may argue that is the purpose of redundancies and security systems but then again where is the efficiencies in that? isn't that more expensive?

Cryptocurrency was just but one and the first application blockchain technology is used. The reason why people, specially those who don't intently see what blockchain is all about, always attribute it to money, as a financial mechanism for exchange wealth or store of value is because they equate Blockchain to Bitcoin, which is not the case. This is not to say that thinking that way is wrong it is more of an inadequate way of seeing things.

Blockchain is more than that. It is a technology that enable users to establish Truth without Trust. That is why blockchain can be use in an assortment of application not particularly related to currency or money. They can be used for identity, tracking, establishing authenticity, contracts, agreements or whatever application that Truth is needed.

A technology that establishes truth, isn't that a lot more valuable than money? Blockchain I think have given the old saying a new meaning "The Truth Shall Set You Free."