Liquid Democracy: How Blockchain Can Improve the Democratic Process

My latest article:

Currently, only 11% of the countries are a full democracy, while 23% is a flawed democracy. However, even a full democracy can be improved drastically, by getting rid of opportunism, corrupt politicians and broken promises. By applying technologies such as blockchain, smart contracts, self-sovereign identities and reputation mechanisms, we can enable a liquid democracy. A liquid democracy offers clear advantages over a representative or direct democracy by ensuring an efficient democratic process where anyone can vote, every vote is included in the result as well as immutable and delegates can be held accountable instantly.

Three Useful Nuggets of Information

My weekly tips from around the web to get you thinking.

1. Chinese mining firm matched Nvidia’s profit.

With an operating profit of 65%, Chinese Bitcoin mining firm Bitmain, one of the world’s primary Bitcoin mining firms, made $3 billion last year. While Nvidia took 24 years to achieve such a profit, Bitmain managed to achieve it in only four years. (CCN)

2. The Israeli Supreme Courts sides with Crypto.

The Israeli Supreme Court requires Israeli banks to cooperate with the crypto space and allow crypto companies to trade with them while prohibiting banks to limit any banking activities of crypto companies. It is a huge victory for the Israeli crypto industry. (Finance Magnates)

3. The SEC crackdown continues; dozens of subpoenas.

The Securities and Exchange Commission sent dozens of subpoenas to tech companies involved with Initial Coin Offerings. The SEC targets companies, their lawyers and advisers. In addition, the SEC requested the identities of those investors participating in the ICO. Is this the first step to SEC-driven regulations? (The Merkle)