The reading on “Evolution, Not Revolution” caught my eye, because i actually think that blockchains can give rise to new institutions if you use the revolution framework as a way to develop a use case. One of the big problems today with blockchain is that skeptics say permissioned blockchains are just ledger systems that have existed for decades. Essentially, people believe that blockchain is not a truly unique and needed solution. In the case of permissioned blockchains skeptics might be right, but what is we leveraged the digital revolution framework? This consists of the following:
- Data: What pieces of data are needed to solve the problem?
- Technologies: What technology helps solve the problem?
- Products: What products are created to provide new services/offerings/capabilities?
- Experiences: How do industry or specific experiences change with this new product?
- Systems: How do these changed experiences affect broader systems and provide other horizontal synergies?
- Implications: What positive and negative implications does this have for the world and society?
Permissioned blockchains would breakdown at the technology/product level, because there would be other tech/product options. Here’s an example of how blockchain might create a revolution in investigative journalism: https://medium.com/jsk-class-of-2019/what-can-blockchain-do-for-investigative-journalism-807b9ee57fe3
Even beyond revolution level use cases, I think that blockchain’s unique offering is that it is a cryptonetwork that supports continued cooperation. From my professional experience in business, while competition does help increase free market activity, it is also the cause of hiding data, duplicate efforts, slower timelines etc. In my opinion competition comes down to data sharing, and that can be solved through blockchain mechanisms, where data can be encrypted but still transacted between systems based on meta-data packages (without exposing the details that give companies their advantage) – think zero knowledge proofs for all industry marketplaces. I also think cryptonetworks allow for governance (without government) of the future of open projects/platforms that allow society to extract the most benefit out of technology, and data. At this point we need to be thinking more about community governance and holding everyone accountable rather than putting the power in the hands of government where things are slow and people don’t understand the building blocks of technology. Atleast, a cryptonetwork market would ensure that governance was shared by everyone and would force us to take accountability.