Decentralize institutions of capitalism to support a blockchain economy3 months, 1 week ago | 0 Replies
The fate of capitalism rests on effective evolution of its economic structures and institutions in a way that they accommodate digital, decentralized and distributed ledger called blockchain. A decentralized blockchain economy is backed not by central authority but by an automated consensus among interconnected members. Rooted in open source software, it structures and regulates a decentralized transparent ledger of transaction records (a database) that is shared, updated and monitored by all members of a network, yet owned and controlled by no one. A blockchain enabled economy is not just committed to transparent movement of money, but also to the transparency of transfer of information and effective allocation of resources to ensure optimized productivity and performance.
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