Blockchain Technology and the New World Order
‘’Blockchain technology: Gone are the days of having to protect transactional data by storing it on secret servers hidden in separate server rooms countrywide’’ – Anonymous
The New World Order can be described as a new period of history reflecting a theatrical change in global ideology. This ideology is designed to alter the existing socio-political and economic sovereignty of nation-states.
There are several interpretations to this newly found ideology, and one of them is a conspiracy theory emanating from some powerful global personalities with a globalist agenda to control the world through advanced technology.
However, it is widely believed that one of the ways this new global ideology will be entrenched is through the introduction of Blockchain technology. The term Blockchain comes in the form of Distributed Ledger Technology that makes use of refined cryptography to store data across computer networks. This clearly means that transactions will be converted into a digital record, thereby causing a major shift from a centralized to a decentralized financial transaction system.
Following this development, technology companies will get aligned by producing new applications that are completely built on the blockchain infrastructure.
While some individuals are criticizing the move, stating that the technological hype surrounding it is very expensive, other people maintain that it is a welcomed development, as it promises lots of new opportunities and quantum financial benefits. The truth is that the benefits of blockchain technology, when incorporated in the new order arrangement, outweigh the negative effects.
Can the New World Survive Without Fiat Money?
The emergence of blockchain technology which is shaping a new world order has drawn significant attention across the world, especially as it concerns altering the financial systems of sovereign countries. It is agreed that with fiat money in place, central banks have full control of the record system, while with blockchain technology, the user retains their own copy of the ledger and all copies of the ledger are harmonized through what is known as a consensus algorithm.
Nevertheless, in this regard blockchain has been advertised as the most reliable and profitable technology for the financial system.
If a New World Order takes effect soon, is it possible that the world’s governments will maximally adopt the use of blockchain technology? Imagine if a single digital currency existed in the entire world, every central bank will act as miners and nodes of that digital currency, which is supported by blockchain. The effect of this is that blockchain will be easily accessible for the world, especially as it will be highly centralized.
It is an indisputable fact that technology is rapidly taking over the world and with each passing day, we are moving closer to a time when blockchain technology and other forms of Artificial
Intelligence (AI) will become the order of the day. There will be major disruptions from the norms and Artificial Intelligence is going to take away lots of jobs, thereby increasing unemployment in the world.
Additionally, it is argued that Covid-19 has triggered the decline of the world governance system and enhanced a disturbing drift towards state isolationism. As a result, it is observed that the
US-China political-economic differences are being exposed and the wanton clamor for control over Central Bank Digital Currencies has raised serious concerns.
How Blockchain technology Benefits the New World Order
There are several inherent benefits in incorporating blockchain technology into the ideologies of the new world order, especially when it is applied in any industry. Not only that businesses will experience a boost, but there are also lots of other benefits it provides for consumers.
Improved Productivity: Blockchain is decentralized, there is no need for middlemen in the areas of payment and in the offering of services. When compared to conventional financial services,
Faster transaction: Blockchain enables faster transactions by encouraging person-to-person cross-border transfers with a digital currency.
Enhanced Traceability: Using the blockchain ledger, anytime there is a record in the exchange of goods on the blockchain, an audit tracker is present to know where the goods came from. This system helps to enhance security and prevents any possible fraud in any business that involves exchange. In this case, the audit trail can help confirm the authenticity of the transaction. In fields like medicine, it can help to trace the chain of supply right from the manufacturer to the distributor, or in the service sector to provide indisputable proof of ownership.
Strong Security: In considering a virile and successful New World Order, blockchain is considered to be more secure than any other record system because each transaction is encoded and as well connected to the previous transaction.
Blockchain as it is called is a culmination of different computer network systems to confirm a ‘’block’’. This block is then linked to a record system which forms a ‘’chain’’.
Blockchain is built on a complicated string of measured numbers and it is not possible to be altered immediately it is formed. This incorruptible and absolute part of blockchain guards against any suspicious false information and possible hacks.
These amazing features and benefits of blockchain technology help to complement and align with the new order arrangement.
In conclusion, the social impacts of blockchain technology in shaping the new world order is gradually being realized. Right now, cryptocurrencies are seriously creating doubts over financial services through digital wallets such as loan offerings and systems of payment, as well as the emergence of ATMs.
It is certain that with the use of blockchain technology for everything, there will be enforcement in global control as it will be very easy to trace every single transaction made anywhere in the world. Apart from finance, the transaction will also include the transfer of ownership, and other driver’s licenses, and other personal data within the global blockchain system.
This may sound weird but the current situation shows many banks are now getting interested in the technology, meaning that it will be implemented globally anytime soon.
Nevertheless, what are your thoughts?