Blockchain

Chapter 3. Blockchain 3.0: Justice Applications Beyond Currency, Economics, and Markets

Blockchain Technology Is a New and Highly Effective Model for Organizing Activity

Not only is there the possibility that blockchain technology could reinvent every category of monetary markets, payments, financial services, and economics, but it might also offer similar reconfiguration possibilities to all industries, and even more broadly, to nearly all areas of human endeavor. The blockchain is fundamentally a new paradigm for organizing activity with less friction and more efficiency, and at much greater scale than current paradigms. It is not just that blockchain technology is decentralized and that decentralization as a general model can work well now because there is a liquid enough underlying network with the Web interconnecting all humans, including for disintermediated transactions: blockchain technology affords a universal and global scope and scale that was previously impossible. This can be true for resource allocation, in particular to allow for increasingly automated resource allocation of physical-world assets and also human assets. Blockchain technology facilitates the coordination and acknowledgment of all manner of human interaction, facilitating a higher order of collaboration and possibly paving the way for human/machine interaction. Perhaps all modes of human activity could be coordinated with blockchain technology to some degree, or at a minimum reinvented with blockchain ...