3/11/2024 - Technology and Innovation

The evolution of ownership in the blockchain era: private or shared?

By Martin H. Pefaur

The evolution of ownership in the blockchain era: private or shared?

Private or Shared?

In the "Second Treatise on Civil Government", John Locke lays one of the foundations of the modern theory of private property. Locke argues that property derives from the labor invested in it, i.e., that individuals are entitled to own what they have produced or acquired through voluntary exchange. A concrete example of John Locke's concept of property can be applied to the ownership of a fruit tree. According to Locke, a person is entitled to own the fruits of a tree if he has invested his labor and effort in its care and cultivation. In this case, if someone plants a fruit tree, waters it and takes care of it, he has the right to possess the fruits produced by it. This idea has been fundamental in the conception of the private property in Western societies and has been used as a justification for the legal protection of property.

On the other hand, the concept of shared ownership, promoted by The Network State, advocates a more collective ownership, where a group of users have access to and control over a digital asset without the need for a single individual to own it exclusively. For example, a housing cooperative. In a housing cooperative, a group of people join together to acquire and own a property together, each with a proportionate share of ownership. Each member of the cooperative has the right to use and enjoy the property, but does not own it individually. Decisions about the use and management of the property are made in common, so each member has a voice and a vote in decision-making. This idea is based on the premise that systems of shared ownership can be fairer and more equitable, where control and decision making are distributed among the members of a community rather than in the hands of an individual or a company.

Although these two concepts appear to be at odds in terms of private ownership, both have important points of contact. Both recognize the importance of labor and effort in the production and acquisition of goods, and the need to protect the property of individuals or groups.

However, blockchain technology has opened up the possibility of creating hybrid systems that combine elements of both doctrines. For example, shared ownership systems can be created where members of a community are entitled to property based on the amount of work or effort they have invested in it, which combines elements of Locke's theory with the shared ownership of The Network State.

However, the implementation of these shared or hybrid ownership systems poses regulatory and legal challenges. It is necessary to establish legal frameworks that allow and regulate the creation and management of these shared assets, as well as to ensure adequate protection of users' rights. It is also important to establish mechanisms for resolving conflicts and protecting property rights in the event of disputes or technical problems.

In this sense, the law must evolve to adapt to these new ownership models and ensure adequate protection of users' rights.

In conclusion, blockchain technology is changing the way we understand private property and offering new possibilities for the creation of fairer and more equitable systems. Locke's and The Network State doctrines offer different perspectives on property, but both recognize its importance and the need to protect it. Blockchain technology enables the creation of hybrid systems that combine elements of both doctrines to create fairer and more equitable systems. However, regulatory and legal challenges need to be addressed to ensure adequate protection of user rights and to establish legal frameworks that enable and regulate these new ownership models.

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Martin H. Pefaur

Martin H. Pefaur

I lead P4 Tech Solutions, a cutting-edge software factory focused on blockchain and AI. Our mission is to bring founders' ideas to life and promote product adoption. Notable projects include FinGurú, Chatizalo, Ludus Game, Number One Fan, Hunter's Pride, VeriTrust Protocol, Matrix-Tickets, Realtok DAO, Resilientes & Speezard DAO, and others. Actively shaping the future of blockchain and AI.


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