Next Article in Journal
Senior Living Lab: An Ecological Approach to Foster Social Innovation in an Ageing Society
Next Article in Special Issue
A Novel Multi-Focus Image Fusion Method Based on Stochastic Coordinate Coding and Local Density Peaks Clustering
Previous Article in Journal
Autonomic Semantic-Based Context-Aware Platform for Mobile Applications in Pervasive Environments
Previous Article in Special Issue
A Reliability Calculation Method for Web Service Composition Using Fuzzy Reasoning Colored Petri Nets and Its Application on Supercomputing Cloud Platform
Open AccessArticle

Socialism and the Blockchain

Creative Technology Group, Department of Informatics, University of Sussex, Chichester 1, 128, Falmer, Brighton BN1 9QT, UK
*
Author to whom correspondence should be addressed.
Academic Editor: Carmen de Pablos Heredero
Future Internet 2016, 8(4), 49; https://doi.org/10.3390/fi8040049
Received: 5 August 2016 / Revised: 27 September 2016 / Accepted: 10 October 2016 / Published: 18 October 2016
(This article belongs to the Special Issue Future Intelligent Systems and Networks)
Bitcoin (BTC) is often cited as Libertarian. However, the technology underpinning Bitcoin, blockchain, has properties that make it ideally suited to Socialist paradigms. Current literature supports the Libertarian viewpoint by focusing on the ability of Bitcoin to bypass central authority and provide anonymity; rarely is there an examination of blockchain technology’s capacity for decentralised transparency and auditability in support of a Socialist model. This paper conducts a review of the blockchain, Libertarianism, and Socialist philosophies. It then explores Socialist models of public ownership and looks at the unique cooperative properties of blockchain that make the technology ideal for supporting Socialist societies. In summary, this paper argues that blockchain technologies are not just a Libertarian tool, they also enhance Socialist forms of governance. View Full-Text
Keywords: Bitcoin; blockchain; cryptocurrency; fiat money; libertarianism; socialism; Marxism; anarchism Bitcoin; blockchain; cryptocurrency; fiat money; libertarianism; socialism; Marxism; anarchism
Show Figures

Figure 1

MDPI and ACS Style

Huckle, S.; White, M. Socialism and the Blockchain. Future Internet 2016, 8, 49.

Show more citation formats Show less citations formats
Note that from the first issue of 2016, MDPI journals use article numbers instead of page numbers. See further details here.

Article Access Map by Country/Region

1
Search more from Scilit
 
Search
Back to TopTop