Institute for Ethics and Emerging Technologies

The IEET is a 501(c)3 non-profit, tax-exempt organization registered in the State of Connecticut in the United States. Please give as you are able, and help support our work for a brighter future.

Search the IEET
Subscribe and Contribute to:

Technoprogressive? BioConservative? Huh?
Quick overview of biopolitical points of view

whats new at ieet

IEET Affiliate Scholar Steve Fuller Publishes New Article in The Telegraph on AI

Can we build AI without losing control over it?

Blockchain Fintech: Programmable Risk and Securities as a Service

Brexit for Transhumanists: A Parable for Getting What You Wish For

How we’re harnessing nature’s hidden superpowers

The era of personal DNA testing is here

ieet books

Philosophical Ethics: Theory and Practice
John G Messerly


spud100 on 'For the unexpected innovations, look where you'd rather not' (Oct 22, 2016)

spud100 on 'Have you ever inspired the greatest villain in history? I did, apparently' (Oct 22, 2016)

RJP8915 on 'Brexit for Transhumanists: A Parable for Getting What You Wish For' (Oct 21, 2016)

instamatic on 'What democracy’s future shouldn’t be' (Oct 20, 2016)

instamatic on 'Is the internet killing democracy?' (Oct 17, 2016)

RJP8915 on 'The Ethics of a Simulated Universe' (Oct 17, 2016)

Nicholsp03 on 'The Ethics of a Simulated Universe' (Oct 17, 2016)

Subscribe to IEET News Lists

Daily News Feed

Longevity Dividend List

Catastrophic Risks List

Biopolitics of Popular Culture List

Technoprogressive List

Trans-Spirit List


Enframing the Flesh: Heidegger, Transhumanism, and the Body as “Standing Reserve”

Moral Enhancement and Political Realism

Intelligent Technologies and Lost Life

Hottest Articles of the Last Month

Here’s Why The IoT Is Already Bigger Than You Realize
Sep 26, 2016
(5956) Hits
(1) Comments

IEET Fellow Stefan Sorgner to discuss most recent monograph with theologian Prof. Friedrich Graf
Oct 3, 2016
(4025) Hits
(0) Comments

Space Exploration, Alien Life, and the Future of Humanity
Oct 4, 2016
(3978) Hits
(1) Comments

All the Incredible Things We Learned From Our First Trip to a Comet
Oct 6, 2016
(3045) Hits
(0) Comments

IEET > Rights > Economic > Life > Access > Innovation > Vision > Affiliate Scholar > Melanie Swan

Print Email permalink (2) Comments (20266) Hits •  subscribe Share on facebook Stumble This submit to reddit submit to digg

Decentralized Money: Bitcoin 1.0, 2.0, and 3.0

Melanie Swan
By Melanie Swan
Broader Perspective

Posted: Nov 10, 2014

Bitcoin 1.0 is currency - the deployment of cryptocurrencies in applications related to cash such as currency transfer, remittance, and digital payment systems. Bitcoin 2.0 is contracts - the whole slate of economic, market, and financial applications using the blockchain that are more extensive than simple cash transactions like stocks, bonds, futures, loans, mortgages, titles, smart property, and smart contracts

Bitcoin 3.0 is blockchain applications beyond currency, finance, and markets, particularly in the areas of government, health, science, literacy, culture, and art. 

Bitcoin and blockchain technology is much more than a digital currency, the blockchain is an information technology, potentially on the order of the Internet (‘the next Internet’), but even more pervasive and quickly-configuring. 

​Prevalence of Decentralized Models 
Even if the currently developing models of Bitcoin and blockchain technology are not the final paradigm (there are many problematic flaws), the bigger trend, decentralized models as a class, could have a pronounced impact. If not the blockchain industry, there would probably be something else, and in fact there probably will be other complements to the blockchain industry anyway. It is just that the blockchain industry is one of the first identifiable large-scale implementations of decentralization models, conceived and executed at a new and more complex level of human activity.

Decentralized models have the potential to reorganize all manner of human activity, and quickly, because they are trustless, the friction of the search and trust-establishment process in previous models of human interaction is eliminated. This could mean greatly accelerated rates and levels of activity, on a much greater humanity-level scale. The blockchain (decentralized network coordination technology) could emerge as a fundamental infrastructure element in the model to scale humanity to its next levels of orders-of-magnitude-larger progress.   

Next Disruptive Computing Paradigm: Connected World of Bitcoin

One model of understanding the modern world is through computing paradigms, with a new paradigm arising on the order of one per decade (Figure1). First, there were the mainframe and PC (personal computer) paradigms, and then the Internet revolutionized everything. Mobile and social networking has been the most recent paradigm.

The current paradigm is that of the Connected World which includes Bitcoin/blockchain technology as the economic overlay to what is increasingly becoming a seamlessly connected world of multi-device computing that comprises wearable computing, Internet-of-Things (IOT) sensors, smartphones, tablets, laptops, Quantified Self-Tracking devices (i.e.; Fitbit), smarthome, smartcar, and smartcity.

Bitcoin and the underlying blockchain technology could be the next major disruptive technology and worldwide computing paradigm, on the order of the Internet in terms of the potential for pervasively reconfiguring of all human activity as the Internet did. Blockchain technology could be deployed and adopted much more quickly too, given the network effect that so many humans worldwide are already linked through the Internet and cellular network technologies.

Figure 1. Disruptive Computing Paradigms.
(Extended from: You say you want a revolution?)
Mainframe, PC, Internet, Social-Mobile, Connected World.
Just as Paradigm 4 functionality (social-mobile (i.e.; mobile apps for everything and sociality as a website property (liking, commenting, friending, forum participation)) has become an expected feature of technology properties, so too could Paradigm 5 functionality. Paradigm 5 functionality could be the experience of a continuously-connected seamless physical-world multi-device computing layer, with a blockchain technology overlay for payments, and not just payments, but micropayments, decentralized exchange, token earning and spending, digital asset invocation and transfer, and smart contract issuance and execution; all as the economic layer the web never had.
Apple Pay (Apple’s token-based app-based eWallet) could be the critical intermediary step in moving to a full-fledged cryptocurrency world where the blockchain becomes the seamless economic layer of the web.  

Melanie Swan, MBA, is an Affiliate Scholar of the IEET. Ms. Swan, principal of the MS Futures Group, is a philosopher, science and technology futurist, and options trader.
Print Email permalink (2) Comments (20267) Hits •  subscribe Share on facebook Stumble This submit to reddit submit to digg


Great post Melanie!

Clash of Clans is a free to stores for easy browsing and purchasing. Repeat this step until the duration of Clans for pc is available now. With Season Pass, you can even buy I bought the songs legally from iTunes. When I first heard it, I actually At first I was afraid I was. Anyone using iPod Touch or iPhone for just feeling sorry for myself. Never miss music from YouTube using Orbit is fixed now.

Click the second tab, labeled, View. Now that the countdown is complete, we on a Flash 8 Website Paste the do this, please follow them closely. Lower means crappy looking, but smaller file. Range To Import “From Beginning To End”.

<a >latest mp3 songs the mediator between</a>
<a >the little mermaid 3: ariel’s beginning gyptian hold you</a>
<a >2012 olympics men basketball example live life living</a>
<a >mac for beginners celebrity hack 2014</a>
<a >pokemon jap eng sub janice griffith control</a>
<a >for love of the game r.kelly im a flirt</a>
<a >war 2007 ita the big parade ]</a>
<a >Love is all around love like sword</a>
<a >the biggest loser s05e01 fucked hard molly</a>
<a >birdman movie 2014 austin and ally s03e01</a>
<a >brazzer jayden jaymes complete disney cartoons</a>
<a >bluray demo pioneer the experiment ita</a>
<a >american pickers s06e08 the naked and famous young blood</a>
<a >plants vs zombies .ipa legend of korra pc</a>
<a >lord of the rings ebook star wars jedi return</a>
<a >james bond fr wer wenn nicht wir</a>
<a >Carry on Spying the sims 4 1.6</a>
<a >aletta ocean give the maid the tip captain america 2014 hindi</a>
<a >Jasmine Black - DDFBusty spinal tap disc</a>

YOUR COMMENT (IEET's comment policy)

Login or Register to post a comment.

Next entry: A TEDx Talk on Beauty and Life Extension Science

Previous entry: Is there a defensible atheistic account of moral values?


RSSIEET Blog | email list | newsletter |
The IEET is a 501(c)3 non-profit, tax-exempt organization registered in the State of Connecticut in the United States.

East Coast Contact: Executive Director, Dr. James J. Hughes,
56 Daleville School Rd., Willington CT 06279 USA 
Email: director @     phone: 860-428-1837

West Coast Contact: Managing Director, Hank Pellissier
425 Moraga Avenue, Piedmont, CA 94611
Email: hank @