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Perhaps most centrally, the blockchain is an information technology. But blockchain technology is also many other things. The blockchain as decentralization is a revolutionary new computing paradigm. The blockchain is the embedded economic layer the Web never had. The blockchain is the coordination mechanism, the line-item attribution, credit, proof, and compensation rewards tracking schema to encourage trustless participation by any intelligent agent in any collaboration. The blockchain “is a decentralized trust network.”194 The blockchain is Hayek’s multiplicity of private complementary currencies for which there could be as many currencies as Twitter handles and blogs, all fully useful and accepted in their own hyperlocal contexts, and where Communitycoin issuance can improve the cohesion and actualization of any group. The blockchain is a cloud venue for transnational organizations. The blockchain is a means of offering personalized decentralized governance services, sponsoring literacy, and facilitating economic development. The blockchain is a tool that could prove the existence and exact contents of any document or other digital asset at a particular time. The blockchain is the integration and automation of human/machine interaction and the machine-to-machine (M2M) and Internet of Things (IoT) payment network for the machine economy. The blockchain and cryptocurrency is a payment mechanism and accounting system enabler for M2M communication. The blockchain is a worldwide decentralized public ledger for the registration, acknowledgment, and transfer of all assets and societal interactions, a society’s public records bank, an organizing mechanism to facilitate large-scale human progress in previously unimagined ways. The blockchain is the technology and the system that could enable the global-scale coordination of seven billion intelligent agents. The blockchain is a consensus model at scale, and possibly the mechanism we have been waiting for that could help to usher in an era of friendly machine intelligence.
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