• David Koepsell

The Revolution will be Blockchained

The neoliberal, globalist agenda is being fulfilled by the strangest coalition of allies. Despite the best efforts of strongmen and states, borders will continue to become less relevant, and markets will continue to be shown to be the best, most just means of allocating resources and wealth, but without the corruption and social engineering that state monopolies over markets enable and promote.

The world of "crypto" is full of people who don't give a damn about politics, and spans the entire political spectrum, but fundamentally the trajectory of the crypto-revolution that seeks to decentralize basically everything, and enable the creation and transfer of wealth for and by anyone, is liberal. Those creating new markets and instruments for exchange on those markets, unhindered by the barriers to entry that the elites have erected (to keep the rabble out, or "protect the rabble" in the altrusitic tones of those elites) are developing parallel worlds of wealth. In those worlds, the codes that have monopolized wealth creation and transfers are no longer bureaucratic or legislative, nor cultural and aristocratic in nature, but decentralized, democratic, and digital. The code lies in githubs instead of congressional records. The means of production is in the hands of the digital proletariat.

Tokenization of non-digital assets is a crucial step in liberating wealth. Hernando de Soto (the Peruvian economist, not the explorer) has made it his life's work to help liberate trapped capital for the benefit of the poorest people in the world. He and his Institute for Liberty and Democracy have found that bureaucracy and often corrupted state monopolies have kept wealth out of the hands of the poor, generally in the form of land or other assets that can be capitalized. Simply put, it is hard in less-developed countries, to get the government to recognize your ownership of things, especially if you are poor. de Soto and the ILD provide guidance on making means of establishing title easier. Removing barriers to attaining title in what someone possesses helps enable entry into capital markets for the world's poorest people. It is no coincidence that de Soto has also become interested in blockchains.

A title is a token. It is a representation of your control over something. And a token is a title, it is a tradeable asset that you control.

Tokenizing all sorts of assets is an extra-governmental way of providing access to trapped capital, with the same sorts of implications for the world's poorest people, the disenfranchized, the penniless.

EncrypGen's Gene-Chain is an attempt to provide individuals the power to control the use of their genomic data and to receive value for its use in the form of tokens. Critical to the power of a blockchain to mediate this control and tracking is the ability to transact for value across borders without reagrd to local currency fluctuations, and with the assurance of anonymity (since remaining de-identified is important for genomic data use in science). Similar platforms promise to bring microcredit, establish title in land and other assets, track and provide payment for intellectual property, and untold other means of establishing ownership and control, while transacting value.

This is not the old economy. It is a revolution, and the established powers-that-be feel threatened. They should. The monopolies over markets that have acted as barriers to entry will be overcome. Cryptopia awaits. You have nothing to use but your blockchains!

Dr. Koepsell is an author, professor, lawyer and entrepreneur. He co-founded EncrypGen, Inc. and is a Founding Partner of BTblock Health, with a focus on Law/Ethics & Compliance. http://davidkoepsell.com . He currently resides in Mexico City, Mexico with his spouse, two children, and Jack Russell terrier.

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