• Ferk@lemmy.ml
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    3 years ago

    Imho, technology and hard mathematical algorithms is the only thing that can enforce that balance. Every attempt at putting humans at the helm ends up leading into corruption.

    Capitalism is actually being regulated, but by the rich and corrupt. The banks are not doing anyone a favor, and the current judicial and tax systems are designed to favor the rich.

    The tricky thing is finding that key algorithm that could allow us to reach that balance… and then getting it adopted. Once we have that then implementing it through p2p systems like blockchains and cryptocurrencies could be a useful tech. Even though it has a reputation of being “untrackable”, that’s actually not necessarily the case… a bitcoin address can be tracked in the public p2p ledger. A well designed cryptocurrency can actually open the door to full disclosure and transparency in the transactions of public funds so that they are publicly auditable with no way for any records to be lost “by mistake”, for example.