Blockchain as a supervisory tool

No one can stop the tech giants like Google, Facebook, Amazon, Microsoft, etc. Anyone who tries to stop them will be bribed, bought with guts, or simply destroyed. Startups, governments or any other organizations-everything is in their hands.

● Microsoft recently patented the “registry-independent token service”, a platform technology that simplifies the creation of tokens in a network of distributed registries. And, if you remember, Microsoft also previously patented a technology that uses data on body activity for cryptocurrency mining.

● Coinbase has patented a technology that uses email for transactions with Bitcoin.

● IBM has patented a token self-awareness technology for recording offline transaction events.

● Visa has patented a technology that acts as a central computer for creating a digital currency using a serial number and a nominal value of a physical currency, more like a stablecoin.

Why would they do that? But let’s take everything in order.

Disadvantages of technological dominance

The patent gives the inventor the exclusive right to eliminate other persons from the production, use or sale of the invention during the specified period of time. By its appearance, it dates back to the 14th century to create monopolies for the provision of its intellectual property. This prompted the inventors to become monopolists.

In this context, the consequences of technological domination are detrimental to society.

When you encounter a blockchain, you will automatically recognize it as a decentralized peer-to-peer system that resists modifications and is transparent. A patent for a blockchain is not a solution, but a delusion in its bright future. This is an attempt to control the technology and make it a centralized, reliable third-party system, in which there will be surveillance operations, and there will be no concealment of transactions.

How? Yes, everything is very simple: a blockchain technology is taken, on the basis of which the entire ecosystem is built, including full digitalization of the individual, a financial system based on CBDC (the digital currency of the central bank) and the management and control of the regulator. The transparency of the blockchain will now be used by the regulator as a tool of total control, if a lot of solutions, such as QR codes, artificial intelligence and cameras, with biometric identification, are still tied to it. Such a cocktail will allow you to disconnect a person in a matter of minutes not only from the financial system, but also from everything, including the destruction of his digital identity in the registry.

Open source + open-mindedness

The blockchain automatically becomes a public registry for recording transactions. It cannot be controlled, or people will not use it (unless of course they have a choice). A controlled blockchain means excluding certain people from the blockchain, which limits the technology itself.

Technology is a living organism. It must develop. A quick way to advance technology involves using it to find flaws and continue fixing them. If it is an open source technology, many people will be able to use it and improve it, because open code means open competition.

Before the advent of cryptocurrency, we lived in a closed system. Not everyone has equal opportunities, and blockchain technology can provide a truly equal society, and give everyone the opportunity to fully realize their potential.

Big Tech is a concern, because their massive purchase of new technologies does not bring anything good. Blockchain, like any other technology, can be used in different ways. We can only hope that the power of corporations is not unlimited.

Official site — https://coinmarketrate.com