Part 1: Tokenizing ‘the vote’

Who is supposed to provide these checks?

Our honourable representatives of course. Unfortunately however, governments the world over have proven their total contempt for the wishes of the populace to deal with the shadow banking sector, tax havens and other corrupt institutions. The sad reality is that governments are unable to and unwilling to tackle corruption in the financial system. However, that is also to be expected because — as the paradise papers have shown us — it is many of the legislators themselves who are the biggest beneficiaries to this system. It must be remembered that whenever a banking bailout occurs — regardless of whether you believe it was a good or bad policy decision — it is not just ‘the economy’ the representatives are saving, it is their own stock and property portfolios (as well as their sponsors). Under centralised forms of governments, this internalized indirect conflict of interest will always be there preventing socially positive policy and as things stand today, it will always be the people who have the least amount invested in the system that pay for any system failures whether that’s through austerity measures like the cutback of public services, tax rises, pay freezes, or inflationary pressures like rising house prices. In today’s system — just like occured with the slavery compensation act of 1845 7, profits will always be privatized and ‘losses’ will always be socialized. We are in a bind, a catch 22, and new legislators will never fix this issue.

Forgive the picture.

“Every battle is won before it is fought” Sun Tzu



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