What Happened to Democracy? Bitvote at Bitcoin Wednesday
All over the world public spending and government debt is soaring. Communities suffer from chronic unemployment and underemployment. Many are still in deep recession or close to the brink of one. Is democracy as we know it still working? Or is power too concentrated in corporations and governments for it to meet all of a community’s needs?
Super venture capitalist and entrepreneur Peter Thiel famously explained that “Competition is for losers”. Is that what’s ailing democracy, and is it possible to fix it?
One of the most frequently mentioned of the non-financial uses of blockchain technology is voting. The blockchain’s ability to establish verifiable decentralized consensus without reference to a trusted third party is a technical breakthrough that may come to be at least as important as the internet itself.
Jasper den Ouden’s Bitvote is one of the earliest examples of a voting application built on the Ethereum blockchain. At Bitcoin Wednesday on 4 February 2015 Jasper will explain how his system works and why it is important for the Internet. Jasper refers to Peter Thiel’s perspective in his talk.
In this video, Peter Thiel explains why he thinks competition is for losers and monopolies are actually good for society.