Storming Governments with The Blockchain

Storming Governments with The Blockchain

For many years, our view of the governance model for information was based on the centralized approach. Even now, in the 21st century when most information is already stored in databases, we have gotten used to the idea that data that belongs to us… is not managed by us. Instead, it is managed by certain trusted parties such as governments (national registers), banks (financial databases), private companies (social networks) and so on. However, the rise of Bitcoin has sparked a new debate about the need for those controlling third-parties. Now that we’ve managed to build a transparent, auditable, independent financial system that requires no intervening third-parties, blockchain advocates naturally wonder why we can’t apply these properties – or at least some of them – to other systems. After all, the blockchain has opened the door to a fundamentally new way of managing data – one that belongs to the community. This is the primary question that we’ve decided to cover in this article.

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