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No it's not. If you run a trust based economy without clear property rights, this whole scenario doesn't exist. If you have property rights, you have a state to
by igorkraw 4y ago
No it's not. If you run a trust based economy without clear property rights, this whole scenario doesn't exist. If you have property rights, you have a state to enforce them, so that state has a court, sues Alice (or Bob), sues John, the state punishes John, done. If you try to establish property rights without a state, then ans only then does it become interesting, but why would you do that? Establishing a democratic "state" is so simple and cheap that people do it all the time (associations, shareholder agreements), and in the end you need to physically enforce the property rights anyway, so why bother with the whole decentralised, anonymous rigamarole?
- derangedHorse 4y agoEstablishing a pure democracy is never easy and when you get the centralization of power that a representative democracy (or democratic republic) brings it can create incentive structures that don't represent the electing population. When you have the power to hide something as a political representative and the general population don't have the means to provide an attestation to whether something is true or not, it starts creating room for elected actors to work against the interest of the people in scenarios where they could reliably hide malpractice. The blockchain isn't converting democratic republics outright, but it does give more power to the people by allowing them to attach their unit of account to what is now considered to be an apolitical monetary system that can be participated in by anyone.
- fshr 4y agoCould it make the whole court process of suing more efficient? Determinations prior to enforcement are very intensive.