PL 4: Blockchain – a competition to governments?

Ana Maria Corrêa

• Blockchain technology promises decentralised trust, which is independent from governments, public authorities and traditional business institutions.

• Blockchain technology could have great social impact. It could improve the detection of fake news, and even preserve property rights. The Internet is instrumental in the development of blockchain because of its transparency and decentralisation.

• Blockchain has removed third party agency and made changes to our current governance paradigm. Governments should use more blockchain technologies. Governments tend to overregulate and should not regulate before fully understanding, implementing and testing disruptive technology. Blockchain will replace human resources and can compete with governments, but it can also improve transparency in government transactions.

• Regarding human rights, personal data should be able to be erased, and blockchain technology could be a threat to that. On the other hand, blockchain enables more transparency and participation, which are important human rights values.