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      "body": "Congratulations @lineshjohn! You received a personal award!\n\n<table><tr><td>https://steemitimages.com/70x70/http://steemitboard.com/@lineshjohn/birthday2.png</td><td>Happy Birthday! - You are on the Steem blockchain for 2 years!</td></tr></table>\n\n<sub>_You can view [your badges on your Steem Board](https://steemitboard.com/@lineshjohn) and compare to others on the [Steem Ranking](https://steemitboard.com/ranking/index.php?name=lineshjohn)_</sub>\n\n\n**Do not miss the last post from @steemitboard:**\n<table><tr><td><a href=\"https://steemit.com/steemfest/@steemitboard/steemfest-commemorative-badge-refactored\"><img src=\"https://steemitimages.com/64x128/https://files.steempeak.com/file/steempeak/arcange/YqQV5Tbj-image.png\"></a></td><td><a href=\"https://steemit.com/steemfest/@steemitboard/steemfest-commemorative-badge-refactored\">SteemFest⁴  commemorative badge refactored</a></td></tr></table>\n\n###### [Vote for @Steemitboard as a witness](https://v2.steemconnect.com/sign/account-witness-vote?witness=steemitboard&approve=1) to get one more award and increased upvotes!",
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      "title": "Blockchain to unleash the power of democracy",
      "body": "Blockchain is in limelight right now and everybody is going nuts about the technology. It could change the internet the way it is and the way we use it –for the better. We have already seen how bitcoin has revolutionized money, financial transactions and banking, as we know it.  Blockchain is a collaborative network where participants can transfer value without the need of a trusted intermediary. For e.g. bitcoin- which enables value transfer without the need of a bank to ensure trust and fair play. So is Blockchain all about disintermediation? The answer is Blockchain is about decentralization- where no one party controls the information but the information is rather distributed and available with each participant of the network. Disintermediation is only the byproduct of decentralization and the factors that enable information being consistent across all participants in the Blockchain network. This is precisely why we say Blockchain is not a panacea and is has its own areas of application. We cannot solve every problem by distributing the same information across everybody. However, the one area that will tremendously benefit from decentralization, for sure, is democracies- yes, governments.\nMost of the information pertaining to governance is supposed to be public in nature so that the citizens can access and use it for empowering democracy. However, because of technology limitations, fragmented information systems, lack of strong will and possible politics of governance, the citizen and the government alike do not have access to consistent information on governance. This is the reason why everyone should look up to Blockchain- to “truly democratize” today’s democracies. Making available consistent information across all stakeholders will bring in, along with a lot of transparency, accountability, reduction in corruption and more efficiency into the system. \nLet us discuss the case of land Records. In most countries, the land title registration and record keeping reels with data discrepancies that occur due to information stored and used by multiple government departments. The absence of a single point of truth as a reference for the land title information and the lack of transparency makes it an area where a lot of disputes and corruption happening. Blockchain can create a single point of truth for all land records- which can remove the current inefficiencies that are caused due to the fragmented information systems, provide a ledger of all assets and transactions of all time, which can reduce and quicken any disputes that may occur. \nPublic spending is another area that is more of a black box to the citizens. There is no way anyone can verify manipulations in public spending information-even if available, have access to the information that will affect them in any manner and absolutely no information on where there tax money goes. Public spending should ideally be transparent and citizens should be able to see how much of claimed budget is spend on promised activities, the related details, and all the necessary proofs that are supposed to be of public nature associated to it. For Instance, when the public working department decides to build a road; the estimate, the sanctions, the associated documents, bid details, how much of the estimated amount has been spend and on what should be available to the general public due to the inherent nature of the scenario.  The same is true with all sorts of information that is or should be public in nature like health, education, environment, corporate compliances etc. \n\nBringing public spending information on Blockchain would provide the necessary transparency to enable social auditing, which can create accountability, reduce nepotism and corruption that is rampant in the public spending area. That kind of a shift in the way we have access to consistent information on governance should be what any democracy be looking at as the way forward. \nAnother area, which Blockchain can revolutionize, is in gathering public opinion. Blockchain could power sovereign digital identity that can help people control, secure and protect their identity and thwart corruption. Blockchain success stories already include issuing national identities in Estonia and to refugees in middle-east and Africa. Countless start-ups are working in the space along with big corporations such as Microsoft. These advancements in the digital identity space would bring in an era of sovereign identity, which can change the way we participate in public referenda. Incorruptible Sovereign identities can open up new possibilities in gathering public opinion and consensus that can truly help democracies and governance. \nOpening up all information using Blockchain would take away the power from the authorities and put it back to where it belongs- the people. This is the next phase for the humankind, which is ever evolving and to the better, to reclaim what democracy has promised and never delivered- taking power back to the people. Significant and groundbreaking efforts are happening across the world pertaining to the technology as people are slowly realizing its potential. I believe that the world will not only witness the industry 4.0 but also democracy 2.0 with Blockchain.",
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      "body": "Blockchain has opened up a lot of previously unimaginable opportunities and one of them is the token economy. The global token economy was estimated at around $800 billion as of January 2018 and shows no sign of slowing down. Startups are sprouting up in the blockchain space building dapps (Decentralized application) of the future leveraging the unlimited possibilities of crowd funding reimagined on blockchain. Instead of relying VCs, angel investors or banks a start-up can directly go for an Initial coin offering or an ICO-as they are popularly called.\nUnlike an IPO which gives investors stock ownership of the company, ICO raises fund by giving out tokens with the promise that the tokens can be used in the network once it is built. The utility of the token determines the value of the token and investors buy the ICOs with the hope that the token value appreciates when the network is functional. Startups are raising billions of dollars on initial coin offerings or ICOs. The most recent and one of the most intriguing ICO was eos.io by a company named Block.one who raised $4 Billion. Some of top ICO fund raisers are Telegram, the messaging app ($1.7 billion), Dragon Coin ($320 million), Huobi ($300 million), HDac ($258 million), Filecoin( $257 million), Tezos  ($232 million) etc.\nMost of the ICOs start with a simple white paper describing what the start-up/ company intend to do. Anyone who is convinced with the offerings can take part in the ICO and buy the tokens. This opens up possibilities of fraud for example, cryptocurrency start-up Confido disappears with $375,000 from an ICO, and nobody could find the founders. So, there is no about the fact that investing in ICOs pauses huge risk not only because of the possible fraudulent claims but also because of factors like \n•\tAn ICO can be issued by anybody who can create a token. So investor due diligence is of utmost importance in determining the trustworthiness of the start-up and the potential of the idea itself. \n•\tUnlike traditional scenarios where the inflow of the cash happens as the company grows, cash inflow happens at the beginning itself and hence the question of incentive for better product development and product enhancements exist. \n•\tSometimes even the good products fail- adopting to the decentralized applications would require a mindset change and hence understanding the market sentiments towards the product since the market would be challenging. \n•\tThe international community is still formulating regulations over ICOs.\nEven amidst all the uncertainties and risks, the global community has taken ICOs very positively which is a sign of acceptance of decentralized applications. This positive attitude reflects in the startup space as well, which is buzzling with activity and better applications are on their way to take on the established centralized applications. The changes that these new trends bring in are most likely to be positive given that there are no external factors that hinders these developments such as governmental regulations or pressure from centralized entities. Fingers crossed.",
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      "title": "Decentralization- An Analysis",
      "body": "Most of the centralized systems exist merely to establish trust between transacting individuals/entities- Amazon, Google, Uber etc. These entities are centralized and exerts so much control over the users, even to the extent that your personal data is not private (Cambridge Analytica and Facebook). They dictate terms and conditions which appear arbitrary (iOS rejecting an application) at times, tax hefty fees for using their platforms (Amazon, Uber) or exploit your data in unimaginable ways (Social credit score -China). All because there is dearth of ways in which we can establish trust between parties effectively. The reason for this behavior of centralized systems is inherent as they follow a predictive lifecycle. These entities in the beginning of their lifecycle start of by providing valuable services to the customer and as the entity grows so do their power over the customers. At the peak of growth curve what was a positive sum game turns to a zero sum game when the entities would start using data and information of the existing customers to provide complementary services to continue the growth trajectory. \n\nThe decentralized networks however works differently and does not have a centralized controller who owns the platform. The most advanced decentralized platforms are crypto platforms where behavior of any entity in the network is influenced by crypto economics which incentivizes fair play and dis-incentivizes foul play. However, designing such systems is no cakewalk and requires careful designing and implementation- any issues with design or implementation would result in catastrophic outcomes such as in the case of DAO, which eventually affects the reputation of the system and alienates the users. When implemented properly these systems offer users- control of their own data (what makes data monetization possible), liberty (no need to pay hefty taxes to middlemen for service) and a collective responsibility to sustain the system. \n\nWhat comes in the way of decentralized systems are mind set (having a collaborative mindset) and current centralized entities who would resist the decentralization to retain control. Since moving from centralized systems to decentralized systems warrant some sort of collaboration between individuals in the network, some argue that people inherently are greedy and the chances of foul play are more in the absence of centralized control, the counter argument points to strong crypto economic designs which can eliminate such negative behavior, which if we look at bitcoin proves the point to a great extent. Privacy and grievance redressal are another areas of contention. Research and development in addressing the privacy aspect is underway and there are technologies like zkSNARKs already being used. However, grievance redressal in a decentralized scenario needs in-depth study and requires systems properly built on strong economic framework and up to an extend government support in terms of legal frameworks. \n\nThe deep pockets of the current centralized entities such as the Amazon, Facebook, apple etc enable them to carry out costly research and development which might let them come up with systems that are aligned to their business interests but not truly decentralized systems. The hope is upon the open source developer community, the start-ups etc who work independently from the centralized entities in developing democratized systems. The growth and development of decentralized systems thus boil down to one simple fact- who got the best developers by their side!!",
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      "title": "The evolution of Blockchain",
      "body": "The distributed ledger technology is breaking the internet and probably is going to revolutionize and dramatically alter interactions between people, businesses and the ways we do what we do. It has the power to truly democratize a lot of things. Say, banking- take Bitcoin for example.\nBitcoin was Blockchain 1.0 and has nearly achieved what it was supposed to do. It has achieved near decentralization in the world of finance. I would not dare to call it a currency now but rather digital gold. Bitcoin may not achieve the currency status anytime soon looking at the current scenario- the latest segwit was abandoned as would probably know. \nThe scalability issues and limited flexibility to use bitcoin Blockchain for any “other” situations lead to the invention of Ethereum, Blockchain 2.0- thanks to Vitalik Buterin. Ethereum is unique as it has the Ethereum Virtual Machine (EVM) which is turing complete. Which allows it to compute anything computable. In Simple words- “you can write code on top of it and the Ethereum virtual machine can execute it”. But Ethereum also has its limitations. First one is scalability- the bitcoin has a throughput of 3-7 transactions per sec whereas Ethereum can give you 10- 30 Transactions per second. Second- Gas. There is a cost associated with every transaction in ethereum which means a code executed in the EVM will cost you ethers. The more gas price you are willing to pay, the quicker your transaction is going to be confirmed in Ethereum. This for me is a damp deal. \nThis is where IOTA fits in. IOTA is not Blockchain, it does not have the chain of blocks like bitcoin or Ethereum. IOTA uses the Directed Acyclic Graph or DAG which they call the “Tangle”. To quote the Tangle whitepaper, “To issue a transaction, users must work to approve other transactions. Therefore, users who issue a transaction are contributing to the network’s security.” What makes the Tangle more appealing is the absence of transaction fees. To create a transaction a node needs to approve another two transactions- That’s it!!! What this allows IOTA is something remarkable- It can make micro payments possible. That definitely is something that the IoT can leverage. In the machine economy, devices that can communicate with each other without significant costs associated with significant device to device trust and security is what is going to shape the future. \nThe Blockchain technology is at its infancy and there is a huge wave of advancements on its way. I believe that the Blockchain technology can create a better world through democratization of value exchanges. It is a revolution in motion.",
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