Blockchain technology is a means of financially connecting everybody globally without requiring government or bank approval. It came about with the launch of Bitcoin in 2009. Anyone can make a payment or gift to anyone else, wherever they are, as long as they have a device with internet access, which are rapidly spreading globally.
There is a possibility that this ground-breaking technological development will lift many people out of poverty and result in a huge jump in global productivity, as other developments have done before and continue to do today. However, without addressing the fact of substantial productivity gains ending up as rent, we will still live in a world largely consisting of people working long hours, and with some people no better off or worse off than before.
But this same technology now also gives us new options for dealing with the matter of rent. Until now, the only means of having a comprehensive land record, of consistent rent / land value assessments, of tax collection and the spending or dispersal of revenues, was for government to take control of it all. Today, combining the digital currency aspect of blockchain technology with the ‘programmable money’ (decentralised apps and software agent) features, we are on the cusp of having the technology to handle:
- decentralised, community-driven land records;
- decentralised, data-driven, community overseen land rent assessments;
- decentralised means of paying rent (i.e. the end of the era of a binary choice between a private landlord and government);
- individual and community-based decisions as to how the payment of rent benefits individuals, communities and governments (locally, nationally or globally).
The biggest hurdles to overcome in seeing the implementation of these ideas are no longer technical, but based in our concepts and ideas. There are certainly challenges in terms of ensuring there is no fraud and, for instance, with Universal Income, preventing false claiming and other problems.
But here’s what’s fun. Starting with just a small number of individuals, if we are prepared to let go of the old territorial concepts of land ownership, and instead embrace the ideas espoused here, this technology may well be a key to us taking a transformational step to a global economy that works well for everyone.
We are starting something that could, step by small step, alongside similar schemes and possibly integrating with others, evolve into a fully-functioning, decentralised, global system that implements this paradigm and brings to fruition the promises, both previously theorised and as yet unimagined, that it holds.
If anyone has a particular interest in the blockchain aspects of the project and would like to join us looking into it, please let us know link to Contact page.