Blockchain Revolution

participate and own shares of a wealth-creating venture anywhere in the world. In
theory at least, we could design a corporation without executives, only shareholders,
money, and software. Code and algorithms could replace a layer of representatives
(i.e., the executive board), with shareholders exerting control over that code. The
opportunity for prosperity is significant, nothing less than the democratization of
ownership of wealth-creating instruments.
Not practical? Perhaps. But consider that entrepreneurs are already using scripting
languages such as Ethereum to design such functions for eventually autonomous
models. Already innovators are implementing code that permits multisignature control
over funds. Through crowdfunding campaigns, masses of people are purchasing
equity in companies. DApps are already giving way to autonomous agents.
This completely distributed enterprise could have a wallet that requires thousands
of signatories to achieve consensus in order to spend money on an important
transaction. Any shareholder could suggest a recipient for that money, marshaling
consensus around that transaction. A structure like this would have obvious
challenges. For example, mechanisms would need to be in place to quickly achieve
consensus. Or who is responsible for the outcome of that transaction? If you’ve
contributed one ten-thousandth of a vote, what is your legal responsibility and
liability? Could there be self-propagating criminal or terrorist organizations? Andreas
Antonopoulos is not concerned. He believes that the network will manage such
dangers. “Make this technology available to seven and a half billion people, 7.499

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billion of those will use it for good and that good can deliver enormous benefit to
society.”
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