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The Interview: Governance on the Blockchain

The same technology redefining what we consider money may one day revolutionize how we think about self-governance and sovereignty itself.

Jordan Fried, the founder of NFT.com, has his eyes on the transformative potential of Web3 for art, technology, and beyond. He joined Roundtable at the BattleFin conference in Miami to talk about his vision for NFTs and the paradigm shift they’re bringing. In this segment, he discusses how the blockchain can transform governance at all levels.

The blockchain is inherently small-"d" democratic, believes Fried. But while this is good for citizens, governments may very well be threatened by it. 

"What excites me the most about this technology is governance and stakeholders having a say, but when you're in the position of the United States of America or China, why are you gonna bring that level of transparency into a process?" says Fried. "Maybe you don't want that transparency. Blockchain is an incredible technology because all of us could vote on the ledger. We'd be able to track that there is zero voter or fraud. We'd know that for a fact. We could issue every voter a credential on the blockchain."

The potential of blockchain technology is so great, says Fried, that it may lead to the creation of new kinds of states in the future. 

"If you can create money and you can create these micro-economies—and Bitcoin is a micro-economy—then you can create a country. You can create at least a software development kit stack," he says." 

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"Maybe the country doesn't have land, but it could be the concept of a virtual economy or a virtual place."

Watch the full discussion below:

Roundtable Guests:

Jordan Fried, Founder, NFT.com