A Tale of Two Futures
Friday, July 28th, 2017
Two significant events will define the 21st century. The first, occurred on October 26, 2001, on the back of the 9/11 tragedy, the Congress of the United States of America brought about a world altering Bill. The introduction of the Patriot Act ushered an era of oversight, fear, and despair. The second event that will define the century took place on October 31st, 2008, with the anonymous publishing of a whitepaper, illustrating the idea of ' Bitcoin: A Peer-to-Peer Electronic Cash System' on a cryptography forum. Each event offered a different future.
Freedom and Liberty
Since the inception of Bitcoin in the late 00s many people around the world have flocked to the Blockchain seeking refuge from traditional fiat currencies and regulated economies. Cryptocurrencies have acted as both a store of value and a medium of exchange for nearly a decade leading to a boom of 800 cryptocurrencies currently circulating the market. As the crypto world continues to expand more and more mainstream outlets are continuing to cover the phenomenon. This increase in attention from the press has lead to concerns from the public and a mobilization of world governments. It is impossible to determine how or even if future governments will play a role in the crypto space but one thing is certain, the introduction of bureaucracy will be a determent to the growth of the Blockchain industry. Many Blockchain startups and projects have turned their focus to privacy. Many tokens such as Ethereum can have their transactions tracked through Etherescan while tokens such as Monero are untraceable. As you might have have guessed, Monero and other privacy focused tokens have been popular on dark net markets, causing concern that they are making it easy for criminals to transfer funds. Because privacy tokens offer a layer of security, millions of anonymous and untraceable transactions can be conducted. But with the lack of regulatory oversight comes a new set of crimes and scams that wouldn't be possible without the blockchain.
Security and Safety
Security is a key aspect of a functional and productive society. The safety of the citizens within a nation should be of the utmost importance to a governing body. Governments are in place to protect and serve it's citizens, from enemy nations, criminals, and terrorist groups. Many governments, an get carried away with security measures, and often times remove the liberty of it's citizens in an effort to keep them safe. It has come to light in recent years that governments around the globe are actively spying on it's citizens. From Edward Snowden to Julian Assange, many rebellious icons have emerged from the fold to speak truth to power. The blockchain will be the people's liberator. By allowing for a public ledger, as well as untraceable tokens, many new opportunities to hold governments accountable while preserving the liberties of citizens is on the horizon.
In conclusion, both the inception of the Patriot Act and the creation of Bitcoin will define this century. It is important to hold onto optimism as we as a civilization continue on into the future. Even with the large government overreach, new technologies are being constructed on the block chain everyday that promote and protect privacy. A new legion of freedom fighters is here to save the internet, those people are developers.
Thanks for reading,
The ADSactly Steemit Team
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- The Original Bitcoin Whitepaper: https://bitcoin.org/bitcoin.pdf
- Bitcoin Foundation: https://bitcoinfoundation.org/
- Official Documentation of the US Patriot Act: https://www.gpo.gov/fdsys/pkg/BILLS-107hr3162enr/pdf/BILLS-107hr3162enr.pdf