Because Of Bitcoin and The Online World, The Collapse of The Nation-State Is on The Horizon

The year is 2050. The United States government has just declared a default on its debt. It is unable to satisfy its social security obligations. Hospitals are closing because they are unable to function without the cash from Medicare and Medicaid. Old folks wait in line outside hospitals because the hospitals don’t serve them since they can’t pay it. There is a stampede on the banks that have amassed excessive cash; they are falling. They are looking at the previous several decades of their life as if it were a barren ravine in which to drown. Before we move further in our guide, here are useful bitcoin tricks to start earning profit in cryptocurrency by trading.

What exactly happened? The internet and blockchain technology are two examples. As new information technology develops, our power structures shift in response. Chiefdoms grant the right to speak. Writing enabled the establishment of kingdoms, empires, and churches. The printing press displaced the Catholic Church, and the nation-state supplanted feudalism in the early modern period. Totalitarianism became conceivable as a result of the effective dissemination of propaganda made possible by radio and television. With the advent of the internet and blockchain technology, we now have not one but two new information technologies to contend with: What strategies will they use to subvert the nation-state?

Because of their control over gatekeepers, nation governments rose to become the supreme powers throughout the nineteenth and twentieth centuries. In democracies, you had little influence, while in autocracies, you had none at all. Then came the invention of the internet.

The Individual Who Is the Sovereign

When I published “Why You Must Act Now,” I had no idea that it would be read by more than 40 million people worldwide. When I created “The Hammer and the Dance,” I had no idea that it would become a source of inspiration for regimes all around the globe. He was just himself.

It would have been unthinkable 20 years ago since information moved from gatekeepers who had a close connection with governments, from newspapers to television and radio stations, and from there to the general public. That institution decided what people would believe on that day, and you had no control over them.

Because the scientific publications you needed were not accessible on the internet, you could not search for them. And even if you managed to get your hands on the information, you couldn’t share it with anybody else since there were no social media back then. Because of the efforts of a pseudonymous individual with extensive experience in game design, QAnon has grown like wildfire, persuading 15% of Americans that its conspiracy movement is credible (while only 40% reject it).

One such pseudonymous individual, Satoshi Nakamoto, developed a trillion-dollar asset class by solving a math problem and publishing it on the internet, then coding the Bitcoin blockchain and releasing it into the public domain. People are now forming their thoughts online and disseminating them online. What’s novel is how simple it is to stay anonymous. While crypto-Jews worried for their lives due to the Inquisition, Nakamoto might be strolling right by you, and you would have no idea what was going on.

In the absence of the ability to retaliate against creators, how can a nation-state prevent creators from undermining the nation-state? However, it was more concerned with the decentralization of authority, which would see power flowing from national governments to the people. However, there is a centralization factor at work on the internet.

Multinational Organizations Are Becoming More Common

Who is responsible for enabling the search for scientific papers? YouTube, Twitter, Facebook, Linked In, and TikTok are just a few examples. There’s a good chance that QAnon, the Bitcoin white paper, my COVID-19 articles, or any other person’s postings would not have been made or spread if it hadn’t been for the emergence of gigantic technology businesses. The transformation extends beyond social media. Seventy percent of the value produced by technology businesses is attributed to network effects. The greater the growth of these network effects, the more significant these enterprises become and the greater the proportion of the economy they represent. Social media is especially effective because it filters what is appropriate for people to think, guiding them in specific ways with its algorithms and, in some instances, taking the microphone away from national-state leaders.

A similar situation occurred more than five centuries ago when the Catholic Church attempted to stifle the printing press rather than reforming itself. It failed because it was unable to halt the onslaught of technological advancement that was occurring. In the decades after the printing press’s creation, the industry had fractured, never to recover its former prominence.

There are just two options available to nation-states as they go ahead. Totalitarianism is the first of them. They may follow in the footsteps of China and isolate themselves from the rest of the world, allowing them to control everything that occurs inside their borders at the expense of progress and individual liberty. If we choose freedom, we must accept that there will be rivalry between many of the 195 nations that exist now, that there will be a very tough collaboration between them, and that the end of the nation-state will be inescapable.

Interesting Related Article: “The Future of Bitcoin and Cryptocurrency Money“

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By: Veronica Cruz
Title: Because Of Bitcoin and The Online World, The Collapse of The Nation-State Is on The Horizon
Sourced From: marketbusinessnews.com/because-of-bitcoin-and-the-online-world-the-collapse-of-the-nation-state-is-on-the-horizon/283572/
Published Date: Fri, 26 Nov 2021 05:59:41 +0000