Abstract: How blockchain can build communities completely free of hierarchy by Mohit Mamoria on thenextweb.com

How blockchain can build communities completely free of hierarchy by Mohit Mamoria on thenextweb.com


A blockchain serves as a community of people from all over the world who are unified in whating to provide transparency, trust and decentralization to the world. Ensuring the validity of information requires both participation from all involved in the blockchain and simple math, which doesn’t allow for dishonesty from any one member. That same trust in the system is found in brands building communities from centralized communities, however companies can also benefit from decentralized communities powered by blockchain. Proposals for important decisions in a decentralized autonmous organization can be submitted as a Smart Contract, and given the appropriate threshold of community support, it will automatically be put into place. The author predicts that businesses will not only need to provide value through products and services but also through community, and blockchains could power that change.

Tags: blockchains, trust, communities, business, smart contracts, articles