Balaji on Bitcoin

Bitcoin is now more than 10 years old, but its consequences are still being worked out. In his article Bitcoin Is Civilization, Balaji, a crypto investor and entrepreneur, discusses the social and economic revolution that is Bitcoin👇

Crypto protects human rights. Bitcoin is a lifeline for dissidents and activists in politically unstable countries. Cryptocurrency accounts cannot be frozen by the government—in Russia, Putin’s most prominent critic Alexei Navalny was able to safely raise millions in bitcoin.

Currency stability. A crypto-based monetary policy is stable, transparent and can be safely predicted for a considerable duration of time, unlike other monetary systems that are subject to fluctuations, erratic shifts, and over-printing.

Protection of Free Speech. Social media giants like Twitter and Facebook have extensive - and some argue politically motivated - content moderation. Crypto allows for decentralized social messaging and decentralized social platforms with more robust free speech protection.

Crypto is pro-privacy. Institutions, from NSA in the US to the CCP in China, have often invaded their citizens' privacy under different pretexts. Crypto platforms, from financial to social, are built to ensure maximal privacy.

The Next Silicon Valley. With the spiritual and technological decline of the Valley as the mecca for business and technological innovation, the crypto-economy is set to replace it as the next entrepreneurship capital.

Crypto assures security. Crypto’s transparency and provability ensure that “smart contracts" are carried out without any of the hitches associated with the courts and the legal system.

Political unity. Crypto evades the polarizing effects of social media and legacy media and brings people on the same page. It allows for economic alignment regardless of geographical distance and political affiliations.

The New Code-based Order. The new world order is based on a robust, ever-advancing crypto-economy. The crypto community is “internationalist and capitalist” transcending political, economic and social demarcations and offering equality of access and opportunity.

Bottom line. Balaji argues Pax Americana will eventually be replaced by "Pax Bitcoinica," and provides compelling reasons for why that is a positive development for humankind.