When you are looking at the use of blockchain technology, you will realize that it is completely decentralized in its approach. The mode of sharing currency on the blockchain is often recognized as cryptocurrency. The trading is done using various apps and websites like start trading bitcoin. This has a very severe effect on the day-to-day proceedings of day-to-day affairs if the entire saga is legalized for regular citizens. The government has not yet allowed the full-fledged use of blockchain and cryptocurrency.
However, when you think about it from the point of view of the government, you will realize that it might be tough to relinquish control over the currency areas. How are blockchain and cryptocurrency directly related to the aspect of civil rights? Let us check out after getting some details about this field.
What are blockchain and associated cryptocurrency?
Blockchain technology can be considered as a mode of technology that can help to save information without causing any kind of change in it. The transactions might be recorded with a special cryptographic signature so that the user only has access to it. Cryptocurrency is a product of blockchain.
It is a mode of digital currency that can be used in place of traditional currency. The currency values which are shared on the blockchain cannot be altered easily. They are more difficult to attain as well. It is strongly believed that cryptocurrency might be one of the future sources of currencies in the world.
How is it different from the traditional currency?
Well, the main difference lies in the fact that cryptocurrency is completely decentralized. While traditional money is handled by governmental sources and baking agencies. There is a note on how each note is spent and this can be completely removed in the case of cryptocurrency. This decentralized nature of cryptocurrency has attracted many users from different parts of the world as well.
How is it related to civil rights?
Public permission is extremely important if one wishes to run a blockchain facility. It has been seen that cryptocurrency, the main product of blockchain technology is becoming a very close part of the dark web which construes most of the criminal activities on the online platform. This cannot be traced back to the user as well because blockchain is often used anonymously.
While on one hand, the user of blockchain has one of the best ways to deal with the storage of information, it might be lost who has been using the data for their own needs. Pseudonymity becomes a great challenge in the world of blockchain technology.
Blockchain technology holds a certain barrier to the entire monetary system. This can lead to government interference as well. Whenever the security of the individuals is threatened, there is a chance that it will affect the civil rights of the individuals. If anyone uses blockchain to share some of the information on the online platform without your permission, you are likely to find the track in which the file has traveled but it is virtually impossible to find out who had leaked the information.
Question of safety
Certain areas might be difficult to comprehend as a layman but you should know that it is not entirely unsafe. Blockchain may pose a personal threat to the users but the inalterability of the system makes it more trustworthy for other individuals. Blockchain systems are usually run on unstoppable code. Unilateral modified or stopped codes can help to work in the area of blockchain users as well.
The public blockchain system runs with no kind of permission, you must be aware of it as it may infringe on your rights. Try to avoid sharing personal information on the blockchain. This should be enough to keep you safe in the long run even in the vast online platform. It might be a bit shady but it is not entirely harmful to your civic rights arena.