Blockchain is igniting a new potential for real social transformation. A transformation of our understanding of value. A transformation of trust and what we trust in. Information became the essence of value generation for the internet and it transcends the virtual world by shaping what we believe and trust in. Blockchain is questioning again how we trust technology and why we place value on information the way we do. The public sector, the private sector and the general society will need to work together to reshape how all of us face problems, how we solve them and how to bring value to the entireness of humanity through each executed action and transaction.
The internet has become a unique agglomerate of information. It enables us to generate, collect and analyze data about individuals, groups, societies, companies, markets, governments, nature and the universe. So far this information that belongs to individuals is stored in protected silos that belong to private companies which are making private profit from them. Information is today the most important asset in the world and that who owns it has the power. Therefore, making information open and clear reduces the power held by a few and returns it into the society as a whole.
According to the OUR Data Index , published by the Organization for the Economic Cooperation and Development – OECD, the countries that best take advantage of the information collected by the governments are South Korea, France and Japan. The question we should be addressing in terms of information, is how to make it not only public but also useful.
Value is not material. It is neither a currency nor a private belonging. Value is contained in all of us for what we can create. It is a potential we carry around. In the virtual world, value is created out of data, data that we provide. Generating ideas, songs, art, code, stories and more enriches this virtual plane to such extent that we ignore value belongs to the real plane. How we value the time and energy of those creators that contribute value to the virtual is still lacking a return in value towards the side of the creator. Instead, the value is cashed out by those who provide the silos for the information to be stored in.
In the twenty-first century, our personal data is probably the most valuable resource most humans still have to offer, and we are giving it to the tech giants in exchange for email services and funny cat videos.— Yuval Harari
The potential of a system that is safe, logical and programmable will alter the understanding of trust. We will have to rethink who the authority should be, when trust is built as a common agreement and it is strong enough between all the universal and individual identities. When we challenge our concept of trust we will be able to share willingly and we will be able to access information freely.
Blockchain is not yet a bullet proof system. It has the potential to transform the world into a fairer and sustainable global society. However, for this to happen, we need to be active participants of its creation. A this point there are barriers that might harm the universal potential of this technology. There is lack of general technical knowledge, lack of interest in the topic and lack of knowledge. We need to take responsibility on the future development of Blockchain. This is why being informed becomes a real tool to be able to make wise decisions and help build the Blockchain that we all need instead of becoming users of the Blockchain that those in control decided to build for the rest.