The resonance between the monetization of land elements and the privatization of public debt:New Opportunities for the Next Thirty Years (II)
The first law of civilization in our world is changing from “natural human rights” to “chained human rights”. The emergence of blockchain makes the distribution order of resources more controllable. For the first time, humans have come so close to God. Without any messenger or spokesperson, everyone can enjoy the flow and use of all human resources worldwide. It all depends on the full process distribution of the crypto world.
Who does the land belong to? Humans have spent thousands of years answering this question. The simplest answer is that the land should belong to every hardworking worker. Unfortunately, the reality is far from that. We see that most working people still live in a small living environment, while a very few privileged classes control the vast majority of the world’s land resources through various light and dark methods.
Excessive concentration of resources will eventually lead to the decline of market vitality. Land is the mother of wealth, but human beings rudely regard it as a reproductive machine. A few, and the debt belongs to the most ordinary working class. This paper describes the crypto world’s subversion of land finance power and the boundless dynamism of future governance paradigm innovations.
The evolution of neoliberalism: the rise of crypto liberalism
Liberalism endows land with fiscal leverage, and fiscal power has long been controlled by governments endorsed by citizens. In other words, the dual control model allows land to circulate in the market and become a wealth. But the middle layer of government is the black power box, and most people outside the box have no idea how exactly it works. Therefore, liberalism lacking government self-monitoring is often prone to rent-seeking in collusion with capital or power.
The advent of blockchain gives individuals the opportunity to monitor the operation of the black box of power. In a perfect state, if all governance decisions and execution of acceptances are run on-chain, it also means that ordinary people can see how all public funds are running. In other words, if ordinary people want to buy or trade fixed assets such as real estate , it is completely feasible to empower and trade on the blockchain.
At this point, we have found that a lot of classical economics says the solution is better in the crypto world. Because in crypto-liberal economics, smart contracts replace the government as the real governance body, and the public chain replaces the traditional civilization framework due to the geographical environment. Crypto liberalism came into being. It is against this background of order reconstruction and civilization optimization that the flow of factors and production efficiency have been further improved.
Blockchain has changed the international trade between countries and the so-called “factor endowment of a country”. Elements are elements, and distribution power may gradually shift to DAO organizations that are more convenient for citizens to exercise power. The success of a DAO lies in whether it can schedule and allocate resources faster than other organizations.
Second, the power of Internet fails, and the organizational legacy is taken over by the DAO
People in the Web3.0 world tend to regard the ecology of different public chains as a multiverse. In my opinion, different DAO organizations are more like multiverses. People form DAOs because their survival and life orientations are different. For group purposes, they tend to present a multidimensional arrangement.
Imagine that the cities of the traditional world are arranged on the platform of the earth. But the DAO revolutionized the definition of urban settlement. Crypto-native residents can simultaneously live in different DAOs in the crypto universe for different purposes. People can live in different dimensions and in different locations at the same time, doing everything to make one’s life better.
Internet companies once promised to give power to a few users, but today, we see Tencent, Alibaba, ByteDance actually giving power back to a few people. It is no exaggeration to say that the false promise of Web 2.0 is complete bankruptcy. Build monopoly power and collect high fees from users for every transaction. The existence of Web2.0 middlemen declares the failure of decentralization.
The DAO movement is to democratize organizational governance. With a DAO, all investors can vote on the organization’s decisions. DAO Democracy is definitely not populism and there are attempts to attack the DAO. Because the DAO’s leadership structure, expertise, and accountability can self-correct instead of making big decisions on long-term issues. DAOs force organizations to provide decision-making basis and proof to the trustees within the organization, and obtain a majority of votes, ensuring that better solutions can be developed under the system.
Soon, the DAO will now directly challenge public companies, followed by some countries and governments. Currently, token-based DAOs are thriving to attract trust and funding, and more disruptive projects will appear soon.
Third, the birth of supranational order, the chain transaction empower citizens
The current traditional financial market is completely centralized under the control of government-regulated entities and multinational financial oligarchs. Banks and credit card companies have authority over the authentication layer. We need to prove our existence to them before we can get a line of credit.
In stark contrast, blockchain is completely decentralized. DAOs offer a new way to modernize organizational and corporate governance. NFTs give creators the tools to get better paid. More and more companies continue to add more to their blockchain hardware services, which will reduce transaction costs and improve security. These will eventually prove to be meaningful. As innovations outside the land expand at a similar rate, these project innovations are covered in the following series of articles.
In 1926, Keynes published The End of Laissez-faire, stating that it was the government’s responsibility to maintain full employment and make the necessary investments for growth. Half a century later, the vast majority of neoliberal economists have abandoned Keynesian doctrine and the need for economic growth. Actively intervene in the government. They believe that the self-regulation of the capitalist market economy can automatically achieve equilibrium. A hundred years later, blockchain gave birth to cryptoliberalism.
There are many governments and multinational corporations that are committed to encouraging sustainable economic growth. But classism, xenophobia, nepotism and closed elitism will control the entire financial system towards corruption because they cannot be contained. Governments and multinational corporations have fundamentally become barriers to transactions for multinational corporations. We must pursue the efficiency, transparency and apparent coercive power of cryptocurrencies.
The decentralized crypto world will be far ahead. The government cannot contain this beautiful, efficient and innovative monster. Just as open source software transcends the natural limitations of centralized software platforms, blockchain technology transcends traditional finance. Of course, we cannot deny that the ghosts of Keynesianism and interventionism are also making a comeback in some countries. In today’s turbulent historical period, what is a market economy? Who will define the market economy, these questions may rewrite the answer.