ETH, Blockchain, and socialism?

Because of the inherent decentralization, I feel like blockchain tech and cryptocurrencies are antithetical to socialism. This is going to be a tough one.

I've been having the same thought but in reverse. Our current products (bitcoin, ether ect.) function like capitalistic mechanisms. But I would argue the blockchain is socialism.

The main problem with socialism isn't the ideals, it's the execution. You are asking a lot of a government to not be corrupt. With blockchain being trustless government wouldn't need to be policed because the blockchain is policing itself. The rules that everyone agreed to don't change just because a leader wants to re-allocate state funds into their pocket.

A state blockchain could solve the 'money corrupts' problem. Now if the state controls the blockchain, it's not decentrilzed or trustless so we are back at square one. But if you integrity of the blockchain can be maintained, blockchain could be a natural socialist mechanism.

Instead of fiat driving our economy, an economy should be driving the blockchain.

/r/ethereum Thread Parent