Digital encryption is a fundamentally political security technology, and a site of struggle for privacy, freedom, and democracy that scholar Linda Monsees has termed “Crypto Politics.”
This presented the idea of Bitcoin, a “peer-to-peer electronic cash” representing the first public, permissionless, cryptographically secure peer-to-peer protocol.
Through shared economic ownership within DAOs, companies will be operating as autonomous entities in the Web3 area, and personal dynamics will evolve from hierarchical to more peer-to-peer driven.
Community commerce was born out of lockdown. There has been a 74% surge in online shopping in 2020 and 85% of people purchase products or services after seeing them reviewed on social media.
The idea of linking technological principles of decentralization to a sociological theory of political decentralization continues to inform public blockchain communities today.