My Entry Post Into @v4vapid's Conspiracy Creative Writing Contest': THE BLOCKCHAIN
Upon seeing this contest, I felt it was really time I put all I have learnt so far from the ongoing Introduction to Digital Currencies MOOC 9 online class as organized by the University of Nicosia In cyprus. I will try as much as possible both to educate and also to really drive home my argument to the best of my knowledge. So please take it very easy on my Flores as I am just a minnow who is really aspiring to grow.
Since joining steemit on 17 August 2017, I have taken my time to read well into Cryptocurrency, blockchain technology and every other stuffs related to them. When I discovered the MOOC as stated above, my joy knew no bound as I assuredly knew I was in for a wider knowledge about these technologies.
PRIOR TO THE BLOCKCHAIN AND NEED FOR THE BLOCKCHAIN TECHNOLOGY
Financial transactions had been on for ages and they had actually been recorded for future references. These transaction were without doubt floured with human and statistical errors (errors of commissions, commissions and casting.) Since human brains were majorly needed to note down these transaction and to certify that these transactions actually took place, there was the tendency for fraud and insincerity on the side of these recorders of transaction. Absolutely, this errors were there and they lingered and that meant that some persons were actually suffering while others were growing fat with gains and boisterous from other people's sweat and hard earned monies.
WHO WERE THE RECORDERS AS DESCRIBED ABOVE
In our contemporary time, we all know the bankers (banks) as the only persons who record transactions for merchants. This speaks volume as to why they will do anything in order to curtail the decentralized system as proposed by the BLOCKCHAIN.
THE ADVENT OF THE BLOCKCHAIN
With the above financial recording irregularities coupled with the need to attain a more accurate transactions recordings, a new form of ledger emerged~~ THE BLOCKCHAIN
The blockchain, a successful decentralized ledger (No central regulator) that allowed parties that did not know or trust each other to carry out business transactions together. Infact, the blockchain ledger sounds practically like a fairy tale when looked at from the traditional perspective:
Excerpt from my course material...
Items to be discussed in relation to this contest
Elites Conspiracy Against the blockchain
The decentralization of the blockchain has inadvertently raised eye brows. By decentralization, I mean that there is no central regulatory authority of this Ledger (the blockchain). Do not forget that prior to this time, I did mentioned that these elites (recorders or bankers) made their dubious gains from the ignorance of merchants. At the advent of the Blockchain, these recorders made fewer gains, hence the conspiracy. What examples do I have to back this up? Check out how every country of the world are kicking against the acceptance of any cryptocurrency because according to them, cryptocurrency is a threat to the financial sector.
The commercialization of the blockchain/Cryptocurrency By mainstream products and Industies
On daily basis, we see new mainstream products, companies and industries seeking to commercialize the blockchain/cryptocurrency. See a good example below:
Exploitation Of the Blockchain Technology to the benefit of a select few and to the detriment of the many.
Not everybody will definitely conspire against the blockchain technology as always done by the elites. Some others (business conscious ones) who will definitely not conspire against the technology, but will look for means of exploiting others or better put, commercialize the technology to the detriment of others.
Unfortunately, it took very many of us time to wake up from slumber and realize this exploitation by some greedy few,who had already found their ways into the mainstream. On daily basis we wake up from bed to discover that another cryptocurrency exchange had sprung somewhere with some mouth watering benefits. Sometimes they promise speed,accuracy, non-analogue transactions and a list of other deceptive benefits, worst for which is referral benefits (BITCONNECT).
I've personally experienced some of this exploitation recently. I discovered that even while the prices of some of the cryptocurrencies (litecoin, dash, EOS est.) rose, some of the exchanges in my country still bought them at old exchange rates. Well, I really never mind because they have the power right in their palms.
My visions of dystopia on the blockchain and how cryptocurrencies could be used to imprison humanity
By dystopia, I mean an imagined location or state in which everything is unpleasant or bad. Can this scenario ever befall the blockchain or the cryptcurrncy world at large?.....The simple answer is YES!
I Imagine what it will look like when the antichrist will come as predicted in the bible, and declare a single world currency (possibly something New) and then every other currency in the hands of all, becomes useless and valueless. This mean that all the time spent blogging and acquiring steem and SBD and Bitcoin all lost and wasted.....There will be confusion and chaos untold since you must need get the sign of the beast before being able to spend the coin.