Douglas Carswell

15 DEC 2015

Man wasn't born free, but he may be liberated by blockchains

Imagine if a business leased a fleet of driverless cars, and ran them as a taxi firm available through uber. You could, in theory, automate every aspect of the firm. When to lease or more vehicles or clean them could be determined by demand. Every aspect of the business, including how and when to advertise, could be run by a computer programme.

Except you don't have to imagine it: soon it will be real.

Technology is transforming the way we do business. Uber's app already enables people to order vehicles at the touch of a button. Google's driverless cars are around the corner. Now blockchain technology – set to take off in 2016 - is revolutionising how companies work.

Blockchain – the digital code technology behind Bitcoin – is an automatic, public database of transactions. It allows direct, peer-to-peer buying and selling, with no central, corporate broker keeping a record. It enables a company to be entirely run by software.

This technology has enormous implications. It means people can trade without any interference from the State. Blockchain facilitates smart contracts: the rules of the trade are written into the code – meaning trade is self-regulating. No legal system is required to enforce the contracts.

Blockchain prevents other State intervention too. Bitcoin has already broken the State's monopoly over currency. It allows people to avoid the tyranny of the Osborne pound and his mendacious monetary manipulation.

Technology allows us to see what a genuinely free market would actually look like. No red tape. No price controls on capital by central banks. No debasement of the coinage by the Big Banking/Big Government crony cartel. No arbitrary extortion on private enterprise, conjured up every six months in burdensome budgets by the Chancellor.

For hundreds of years, parasitic elites have lived off other people's labour and ingenuity. High-tech innovation may finally set humanity free.

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