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Utilizing Bitcoin as a Notarization Layer for Political Contracts

From cryptochronicle.xyz, a leading crypto news site

Bitcoin is set to bring about a political revolution rather than replace it. Even in a hyperbitcoinized world where Bitcoin reigns supreme in a new monetary system emerging from the current fiat system’s ruins, the state will continue to play a vital role in international relations. As Max Weber posited over a century ago, the state will still rely on legal coercion and violence as its primary means of action, asserting itself as a monopolist of force internally and sovereign above all externally.

The advent of Bitcoin will usher in new transformations for the state, challenging it to adapt to changes in geographical reach, resources, competencies, and ambitions. While some may hope for the complete dissolution of the state in favor of voluntary interactions, the reality is that it will endure in some form as an organizational structure in society. The nature of human instincts and the historical necessity for regulatory bodies imply that the state, in some capacity, will persist to provide order and security.

In a global Bitcoin system, the state’s monetary power will be significantly curtailed, necessitating a shift towards core functions such as legislation, security, and defense. This “new state” may evolve into a minimalist entity akin to city-states or compact nation-states based on identity, ensuring continuity amidst the changes brought by Bitcoin.

With the rise of international trade and decentralization, diplomacy will flourish in a fragmented world, where Bitcoin’s layer 1 blockchain could serve as the ideal platform for storing and managing international treaties. By leveraging the innate characteristics of the Bitcoin blockchain, such as publicity, traceability, immutability, and neutrality, states can ensure the security and transparency of their agreements in a cost-effective manner.

In conclusion, utilizing the Bitcoin blockchain for international treaties presents numerous advantages in terms of security, transparency, and trust among parties involved. This technology has the potential to transform the way international agreements are crafted, enacting a more collaborative and peaceful future for global relations.

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