“Of the people, by the people, for the people” — since Abraham Lincoln spoke those words in his famous Gettysburg speech in 1863, democracy has evolved to become such a holy concept that even the harshest of dictatorships call themselves democracy. Excluding those pretentious polities, of all the 192 countries there are currently 123 democracies in the world.

If democracy is defined in President Lincoln’s words, there’s more or less a consensus between all the advocates of democracy on what “of the people” and “by the people” means. The discord surfaces only when interpreting “for the people.” Does it mean to include ‘all the people’ as the socialists and communists would want to see it, or is it ‘the chosen few’ as some non-communists would want to see it?

It’s the “for the people” dilemma that makes democracy vulnerable to the convenience of any government “of the people” elected “by the people.” It’s that very exploitation that has resulted in perpetual increase in wealth inequality across all democracies of the world.

Blockchain’s decentralization of democracy takes that “for the people” dilemma out of human judgement and makes democracy unexploitable to the convenience of a few.

Democratizing the process of generating and spreading the wealth may seem to be as impossible a goal as communist ideology was. Nevertheless, “spreading the wealth” is still considered synonymous with socialism, communism or its variants, because there’s no other conceivable political system that proactively advocates spreading the wealth. Last time someone spoke about spreading the wealth this is how he was memed:

Source

But, blockchaining the entire process — at least in one use-case — does make generation and spreading of wealth a near term reality for bridging the wealth gap, without having anything to do with socialism or communism. That use-case is the deployment of AlgoShare technology in democratizing the Multi-Trillion dollar algorithmic trading industry for spreading the profits across the entire spectrum of humanity without any discrimination whatsoever.

Spreading the wealth is the 2nd element of our proposed definition of Prosperism.

References:
Shock & Awe
Prosperism: Blockchaining To Prosperity

This article was also published on Medium