Why the world needs public blockchains and crypto to survive?

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An ancient perspective

Once upon a time their was a kingdom that enjoyed peace for a long time. Its soils were fertile and lakes and rivers traversed its vast lands providing for drinking water and irrigation to its crops.

The regular rains ensured a good harvest year by year. It had not fought any war for many years and its army was practically non existent.

Things changed over time

when a word or its prosperity and riches spread a couple of less prosperous neighboring kings got together and raised a mighty army to wage a war on this kingdom.

Preparation of War

When the good king came to know about the advancing armies he decided to prepares an army that could match the advancing armies. He ordered his council of ministers to do the needful.

Lack of funds

To his dismay his ministers informed him that the funds in the royal coffers were simply not enough to pay for such a huge army or make all the weapons required.

The king was astonished and did not know what to do. He asked his ministers for advice.

One of the ministers suggested that only one man in his kingdom had this kind of money.

He was the gatekeeper to the kingdoms gates. The king was surprised as to how can a gatekeeper have such a large sum of money? However this was not a time to think about anything but prepare for the war.

So he approached the gatekeeper and made a request to help with the funding.

The gatekeeper obliged and gave the money to the king to raise the army.

The hard fought battle

The king and his men fought valiantly and defeated the advancing enemy troops. After being victorious the king wanted to thanked the gatekeeper and also reward him for his noble deed of providing the funds for the kings army.

However he was curious as to how the gatekeeper to the kingdom got so much money so he sent out his ministers to find out.

The shocking truth

The investigating ministers came back with some shocking but interesting facts. What they reported was as follows. There would always be a long line of people to enter the kingdom's gates and they had to pay a tax to enter the kingdom one by one. The resourceful gatekeeper had a plan of his own in place those people who could pay a little extra to the gatekeeper would get a priority to enter over others and over a period of time everyone started paying him to avoid the wait. This was ingenious but illegal tax that made the gatekeeper very rich. In-fact so rich that he could fund the kings army.

The kings Dilemma

It was a difficult choice for the king on one side he wanted to plug this loophole and on the other side he could not go back from his word of honoring the gatekeeper.

He could have got the gatekeeper beheaded but would lose a great benefactor so he devised a solution.

He declared that the Gate keeper is being given a raise. From now on he would no longer be the guard of the gates of the kingdom instead he would be the guard at the royal court room.

The king had thought if he keeps the gatekeeper so close he could keep a watchful eye on him and here at the royal court he would not be able to extract any money unlawfully.

A reality check

A few months passed and the king asked his ministers to find about the wealth of the royal guard.

The ministers investigated and reported back that the wealth of the guard had double in only a couple of months.

The king did not understand how this could be possible. The investigating ministers explained.

Now that the common guard was a royal guard so he was dealing with rich merchants and royal dignitaries.

We was using his resourcefulness to get these powerful visitors to the court priory meetings and would charge a hefty fee for getting their work done at the court.

The good king was furious

The good king wanted to put a stop to this and so created a new post for the royal guard.

Now the guard had his office atop a mountain from where he could see the approaching ships and count the waves.

The board on his office read " The Counter of the Royal waves" As the name suggested his job was to count the waves hitting the shores of the kingdom.

The king thought that this way he could keep the guard away from making money in a unlawful manner. All his illegal activities would stop.

Do you thing this would have worked for the king

Give it a thought and try to think how the things would have proceeded from here. Then you can scroll down to read what happened in the story. . . . . . .

The story continues...

The guard being what he was, started his new job with enthusiasm.
He would keep a record of the incoming waves and every time a ship would stop at the port for business or refueling had to deal with the guard. He would tell the captain about his credentials and inform him how his ship is interrupting the waves to reach the shores and interfering with the natural process.

Fearing being banned from docking at the port and to appease the " The Counter of the Royal waves" They would shower him with riches and gifts.

" The Counter of the Royal waves" was very happy in this new role. He was far from the scrutiny of the king and making a lot more money than what he could make earlier.

Do you think this could happen only in the ancient times?

Or are things any different now? Are people not exploiting the situation even now?

When the king managed everything everything was a centralized control and there were plenty of blind spots to sneak past good governance, good intentions and justice.

What was true then is very much true even now.

Be it a city or a country or a bank or a company we are all governed by a centralized control.

Be it the fear of losing control or lack of knowledge we are not willing to decentralize and use public blockchains.

Think of a scenario when all government transactions are logged into a public blockchain.

Transactions are trustless without human interactions governed by smart contracts.

Hopefully more transparency would happen and the power of decentralization would give a fair treatment and equal opportunities to all people rather then give undue advantage to corrupt officials or to those who bribe and find shortcuts to do
things in a wrong way or jump the line.

In such a world we could all be the honest gate keepers who run the nodes and cannot be bribed to bend the truth or facts.

Crypto could be the reward for our honest work. Generated due to the validation work our nodes do and not by a central agency that can print it endlessly.

A graphical representation of a world working with the help of blockchain created with https://txstreet.com/old/ You can check out https://txstreet.com/old/ for an interesting blockchain animation

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