Ethereum – The Machinery Of Change15 min read

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Foreword – How Ethereum will impact our lives

You wake up, and see that $17.27 was automatically deducted from your primary wallet, as you had authorized to happen every day, to pay the rent for your apartment.

If you cancelled the authorization, then after a warning period ownership in the land registry contract would automatically transfer back to the landlord and the door lock would no longer recognise signatures signed by your smartphone’s private key as valid for letting you in. Of course, your landlord is bound by the same restrictions – if he shuts off his account paying the local government $6.60 land value tax per day, then he loses ownership and the contract automatically switches over so you are renting from the government instead. The government itself is simply a large decentralized organization, and you can see in real time the $6.60 moving on the blockchain and eventually getting into an account to pay for a medical research program trying to extend the human lifespan from 170 years to 230.

The internet that you are using to access this information is based on OpenGarden, which by then is a mature decentralized and incentivized mesh networking platform; you also paid $0.0009 to access the information, but your laptop also earned $0.0014 transmitting other people’s packets at the same time.

You then get up, and get into your Mastercar self-driving car to go to work. Originally, all self-driving cars were made by Google, but Master Corporation, a decentralized autonomous entity that automatically uses a combination of futarchy and liquid democracy to determine how the company should spend its funds each day, proved that its governance mechanism was so efficient that it overtook Google on some core services within three years, and alt-Mastercorps took over most of its other operations.

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JP Antunes

Futurist | Ethereum Developer and Entrepreneur

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