Those who read my articles know that I am all for freedom and that we have the potential to take down the established system through cryptocurrency and blockchain. The potential for decentralization across the world means we get out from under the thumb of government entities and greedy corporations. We are starting to develop the technology which can provide for a digital utopia.
Today, we saw the news that Julian Assange had his asylum revoked and was arrested by the UK authorities. This is in preparation to ship him back to the United States where who knows what awaits him. The Feds have wanted to get their hands on him for a number of years and they are not going to make it pleasant.
I will not go a great deal further on this as there are a number of excellent articles appearing on Steem delving into this horrific situation.
Before going any further, I will state I am 100% for decentralization and have anarchistic views. I do not trust, defend, nor believe in the present system whatsoever. I think those that do are equally as culpable in the atrocities that take place as those who commit them.
That said, there is a major lesson to be garnered from Julian Assange. He, like Jared Rice and a host of others people, end up pawns in a game played by the power elite. Any head-on threat to them is dealt with harshly. Many idealists like to promote notion about their lack of authority or rights. The truth is they have guns and that changes things. When one is dragged out at gunpoint like Julian was, that tells a great deal of the story.
Thus, I look at the process as long term, containing many phases. The cat is out of the bag and the established entities will end up succumbing. What presents a challenge is they still have power which they are willing to use to make life very difficult. They cannot control all directly so they opt to make an example out of a few to keep the rest in line.
And it is effective.
Presently, we see many blockchains that are decentralized and run all over the world. No single government can do anything about it since they reside outside the area of jurisdiction. Also, without a single point of access, it is impossible to shut the network down since it is everywhere. The technology makes it impossible to issue a simple cease and desist letter.
Thus, we see the control entities turning to the next layer. Instead of going after the blockchain, they issue their letters showing their power to the players who might want to use the technology. Those institutions that are under the government jurisdiction are at risk of having the Feds kicking down their doors. Hence, they are forced to play ball.
This means that a whole lot of money, that could be directed towards this industry, is prevented from doing so. A mainstream entity cannot risk having a transaction take place in a country like Iran. That would get them in a great deal of hot water. Also, regulations are often put in place to protect the larger companies, not the average investor. This means unless they are profiting, the strong arming takes place.
BEOS is a middlechain that provides token portability to EOS for anything that is developed on the Bitshares blockchain. This is powerful although not completely unique. Middlechains are popping up all over the place as we move into the interoperability phase of development.
There is something that is very powerful and could give BEOS a huge leg up over everything else, including EOS, if they can pull it off.
BEOS is running on the code of EOS. This means that all advancement and updates that EOS makes could be integrated into BEOS. Since the processing power and transaction time of EOS is already proven, this means BEOS could be an equally powerful chain.
What it does have, that EOS does not, is the Jurisdictional Agility feature.
EOS has the same problem as everyone else. Those entities that are worried about the "long hand of the law" are not going to conduct business in areas that it can get in trouble, at least not overtly. This is a problem because blockchain transactions are transparent. If a transaction takes place in a sanctioned country, as an example, that could cause issues.
BEOS plans to solve this by enabling the institution to determine which laws it will operate under. Thus, the geographic region where transacting is done is under their control. This could have massive appeal to major corporations that could use this technology to improve their services.
Could this be the path laid out that starts to attract some major players? While few of us are fond of the Wall Street types, they do have control over a lot of money. They are also always looking for an advantage and a way to cut costs. When dealing with the volume they are, even a quarter of a cent savings adds up.
The idealist in me prefers they all stay away but their funding could be helpful. Another thing I keep in mind is this would not be the first time an industry unknowingly adopted something that led to its own demise. It is ironic how technology does that. The first generation is adopted by the very people the second generation puts out of business.
For the time being, we have to be mindful of the powers that are. In the end, they will be eliminated. However, taking them head on could make life very difficult and delay things. BEOS might be offering a way to entice them in and baiting the trap.
I am a big fan of the Bitshare concept. That said, we see the results after 5 or 6 years of operation. A DEX doing a couple million transactions per day means it was not adopted. This is a rounding error for the Wall Street crowd. To go from the full-blown, centrally controlled system to DEX is obviously unrealistic. Hence, we need a way to transition.
Perhaps BEOS is the answer.
If they do pull this off, for the time being, it could provide a leg up over other blockchains out there, including EOS. A lot of major players will be forced to take a look at this. Enterprise will no longer have to turn to the snake oil that IBM is out there selling.
A decentralized blockchain that provides the horse-power they are seeking while providing the ability to stay within the bounds of regulation.
It could be something that has some appeal. We shall see.
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