The legal system and courts are the first guarantee of financial growth and prosperity, however, blockchain can make stress essentially automatic and make it impossible to cheat, ensuring transparency without the need for court intervention. Blockchain ideas can revolutionize other aspects of our world as well.
Smart contracts enable the integration of different kinds of data making contracts between people more structured and grounded in data. This could distribute power and enable greater resistance to dictatorships and authoritarian regimes.
The hosts discuss the possibility of using blockchain technology for distributed decision-making processes in government and the potential impact it could have on society in the future.
The speaker hopes that the concept of public goods, which is important in modern civilization, can be decoupled from the idea that one central organization can represent the public. The goal is for blockchain to continue to grow and become scalable so that people can utilize the technology for its amazing use cases, instead of being priced out because of transaction fees. The positive impact crypto/Blockchain can have on society can be momentous and needs to be realized, as the effects of empowering people with decentralized technology can have far-reaching positive impact.
With cryptocurrency, the meaning of wealth becomes more abstract, with transactions between people representing something larger than just an exchange of cash. The concept of money is shifting as we can bring about a different future with it.
The concept of money is the most emotionally loaded concept in humanity and people fail to understand the new idea of distributed trust in the internet that underlies cryptocurrency and blockchain technology.