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Blockchains

Pathfinders: A Rattle of Blockchains

"Blockchains could change our world as much over the next two decades as the internet has over the last two" -  source: zdnet.com - https://tinyurl.com/mp372v5

The thing about revolutions is that it's not always obvious when you're in one. They only reveal themselves in hindsight. Now some are saying there's a new revolution on the horizon that will be as huge as the internet. They claim it will change capitalism, see banks disappear, even abolish global poverty. When we last mentioned this development (Pathfinders, October 2015) investment in it stood at around $360 million. Today it's close to $2 billion, and this may be only the trickle before the torrent (ft.com - tinyurl.com/yb5zpdeh).

This is the world of the blockchain, and it has implications for socialists too. To understand it though, it's worth understanding something about networks.

Pathfinders: Robots of the World - You Have Nothing to Lose But Your Blockchains

The bosses own the means of production – that's what makes them bosses. So what will happen when the means of production own themselves? Er, come again? Yes, we are talking about automated intelligent production and distribution systems, managing themselves, recycling their income back into their own maintenance programmes, entirely without human agency. You call a cab, the cab turns up and it takes you (yes, it's driverless) where you want to go, debits your online account, and uses that income to buy its next 10 gallons of fuel and pay its automated garage cleaning and servicing subscription.

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