The world of cryptocurrency has long-fascinated radical thinkers, whose political views often tend towards libertarian ideals. The introduction of Bitcoin a decade ago was a response to the 2008 financial crisis and it ignited the interest of survivalists, radical free-market supporters, and gold enthusiasts. Among them, I found a mutual understanding despite my own political beliefs hovering on a more democratic socialist course. My curiosity about cryptocurrency and blockchain was not tampered by our differing views, and it was this very diversity that made me respect the convictions of many early Bitcoin pioneers.
The last four to five years have witnessed an expansion of political thought within crypto. The innovative smart-contract architecture of ETH has attracted a wave of economic engineers who envision game-changing incentive structures that could cultivate a healthier, more balanced society. Among these new ideas are Glen Weyl’s “Radical Markets” theories and the budding discourse on “regenerative economics” initiated by Kevin Owocki.
Alongside this wave, emerged a Twitter account, “The Blockchain Socialist,” centered on discussions about American economic imperialism and the case for privacy from a left-wing perspective. The account, run by Joshua Dávila, a business consultant in blockchain issues at Deloitte, and founder of Breadchain, was a hub for diverse activist projects.
Dávila recently authored “Blockchain Radicals: How Capitalism Ruined Crypto and How to Fix It,” a noteworthy book that explores blockchain’s role in organizing non-state social and economic alliances. However, Dávila has faced challenges to win his political peers over to appreciating the potential of blockchain. He argues against dismissing crypto, pointing out the irony of such criticism mostly coming from neoliberal centrists, who often mask themselves as justice-oriented progressives. These critics selectively decry the energy usage of crypto, without handling larger systemic issues.
In a sense, Dávila is embodying the radical aspects of crypto. What defines a radical is the audacity to question deep-seated assumptions—even those that society might hold sacred. Dávila upholds crypto’s potential to redefine and potentially rejuvenate “the commons,” areas typically shared by a community but increasingly privatised for profit. He also credits open-source software development as a fundamental aspect of crypto and applauds its potential to evade unjust laws.
Dávila’s hopes rest on the creation of new cooperative businesses using the transparency and immutability features of DAO-like structures and smart contracts. While he does not provide precise solutions on how blockchain tech can forge a fairer, more stable world in his book, Dávila certainly advocates for a broader understanding of the endless possibilities that crypto offers, inspiring those looking for transformation to think bigger.
Source: Coindesk
