This post originally appeared on ZeMing M. Gao’s website, and we republished with permission from the author. Read the full piece here.
The idea of a unified blockchain causes anxiety or even antagonism. There was much misunderstanding in this matter, a significant part of which arises from lacking a distinction between money and currency.
If we define money as a ‘value agreement’ (which is the legal and commerce aspect of value), but currency as the technology that transmits value, then an ideal world we want should have decentralized monies carried and transmitted by an efficient unified currency.
By ‘decentralized money,’ I mean not only money decentralized to the level of separate nations and local governments, but ideally to the natural economic ‘community money’ based on actual dis-intermediated business credits, down to individuals and even nano businesses of a fractional individual. Banks should still exist for lending and other functions but in a very different form.
See more: Money & Currency.
Avoid knee-jerk reactions to the word ‘unified.’ Technological unification is not only good but necessary, while power unification is not only unnecessary but can be evil.
What’s important is not the words, nor even the mere abstract concepts, but the actual power structure.
Think about the Internet. We have technological unification at TCP/IP, which not only contradicts the diversity of Internet applications but in fact, is the very foundation of that. The Internet is decentralized because it is technologically unified without giving any entity controlling power.
Once we understand that, we will start to understand why Satoshi wants blockchain to:
(1) be integrated and unified with IPv6 at TCP/IP level;
(2) have unbounded scalability;
(3) have a locked protocol.
The first two are necessary for technological unification, while the third is necessary to avoid power centralization.
Looking from the root level, it is not complicated. Yet the entire ‘crypto’ industry has metastasized into selfish cells with only one common goal and function: exploitation of human psychological weakness. It is a result of either having no clue about these fundamental principles or ignoring them with selfish motives.
Centralized political power is not the only dangerous thing to humanity. Decentralized anarchic selfishness is the other prong of the wrench that clamps over humanity.
Watch: BSV Blockchain A World of Good
New to Bitcoin? Check out CoinGeek’s Bitcoin for Beginners section, the ultimate resource guide to learn more about Bitcoin—as originally envisioned by Satoshi Nakamoto—and blockchain.