Bitcoin has the potential to problem 18th-century financial defensive protocols as a Twenty first-century trendy financial protection protocol (MMDP) different. For starters, the aim of any defensive protocol is to present pure obstacles which are designed to improve security and maximize safety. So, the stronger the protocol, the superior safety and the safety it gives.
The U.S. Constitution, for instance, is a defensive protocol that was constructed to shield particular person liberties whereas additionally outlining the restrictions of “the people” outlined for their authorities. This masterpiece of a defensive protocol is actually a revolutionary doc that helped propel civilization ahead in methods by no means skilled earlier than in historical past. Furthermore, the U.S. finally established the Department of Defense (not the Department of Offense) as an insurance coverage coverage to additional defend our lifestyle. That being mentioned, the suitable defensive protocol has the potential to form the longer term and pave the way in which ahead in methods we can’t fathom at this given second in time.
Now, constructed into the nation’s defensive protocol below Article 1 Section 10, one will discover the nation’s financial defensive protocol. This 18th-century financial defensive protocol makes an attempt to restrict the federal government’s potential to spend by decreeing the nation’s money owed shall be paid utilizing gold and silver. As we might have discovered, historical past doesn’t repeat itself, nevertheless it typically rhymes and the nation’s founders had been very conscious of the inherent risks of overextending the nation’s obligations by way of a debased cash provide. After all, what is historical past however a societal pendulum swing that begins with high quality cash (gold and silver) to amount foreign money (debased foreign money) after which again to high quality cash once more. Up till very lately, gold and silver have been the most effective defensive financial protocol towards runaway inflation and foreign money debasement. To at the present time, gold and silver nonetheless performs a key position as an insurance coverage coverage as nearly each nation holds a big cache in their reserves.
Currently, our 18th-century defensive financial protocol stays extremely precious, which is why it is closely protected by a well-trained and skilled Twenty first-century navy employed by the Department of Defense utilizing extremely efficient Twentieth-century techniques. Fort Knox, which reportedly holds the nation’s gold, is guarded with thick granite partitions and blast-proof doorways that weigh over 20 tons. It is surrounded with 24-hour per-day, seven-day per-week surveillance, guards positioned in a number of sentinel stations, a fringe fence outfitted with movement sensors, an electrical fence that is a second barrier defending the set up and the Appalachian Mountains to the east, which gives a pure barrier towards potential adversaries. If extra navy safety is ever wanted, obtainable troopers, tanks, assault helicopters and artillery are positioned on the Fort Knox navy base close by. All to say, that is a big quantity of firepower designed to defend the nation’s present financial protection protocol.
For context functions, gold has been used because the supreme financial instrument to retailer the worth of our items and construct wealth so as to advance civilization for 1000’s of years. Gold’s pure chemical make-up, its indestructible properties, mixed with its scarce provide made it essentially the most sound cash human beings have found. Its use propelled the event of human societies because it reworked a world of bartering to a world of worldwide commerce consisting of cutting-edge technological breakthroughs. The possession of gold, though it has a superb observe file as high quality cash, has repeatedly led to the destruction of civilization and a historic loop that all the time appears to repeat itself.
The inherent traits of our species, particularly violence and greed, sadly all the time appear to handle to corrupt the cash provide. Removing the corruptible and inherently violent nature of human beings from the cash provide and as a substitute outsourcing oversight to a line of code could also be a viable different and answer to a 5,000-year-old drawback. Only when civilization discovers this so-called good incorruptible cash in Bitcoin can it have the chance to carry the kind of peace that politicians and people alike declare they need to obtain. Now, as a substitute of hiring a military to defend an 18th-century financial protocol, the Bitcoin community elevates us into the Twenty first century and makes use of the ability of electrical energy as a protection system.
That being mentioned, MMDP (in any other case often called the Bitcoin community) is a Twenty first-century answer to an 18th-century drawback and fairly probably a contender to change inferior financial defensive protocols so as to maximize the safety of particular person rights, whereas concurrently stopping irresponsible spending. Sooner or later, MMDP will finally change into a nationwide safety precedence and the leaders of our nation will come to the conclusion that safeguarding MMDP might change into as a lot of a nationwide safety precedence, if no more, as safeguarding an arguably outdated 18th-century financial protocol. If that seems to be the case, then it might not be unlikely to see the Department of Defense start to rapidly transcend its dominant position from a Twentieth-century standpoint and transition to a Twenty first-century defensive posture as civilization transitions from bodily financial protection to digital financial protection in and thru our on-line world through the ability of electrical energy and storing financial power with Bitcoin.
This is a visitor submit by Matthew Smith. Opinions expressed are fully their personal and don’t essentially replicate these of BTC Inc. or Bitcoin Magazine.
