By and large, cryptocurrency fans seem and act like members from an up and coming cult. That is just about to get true, thanks to Ethereum blockchain.
Matt Liston, former CEO of Augur made an unceremonious exit from the company forty months back. There were reports that he was forced out of the company after long-standing disputes with other co-founders of the company. The culmination of the fight resulted in a $152 million lawsuit from Liston to Augur investors as recently as last month.
Today, Liston is a reborn man on a mission. On a May 19 event at the New Museum in New York City, Liston unveiled his blockchain religion, 0xΩ. He gave away 40 hard copies of the “flame paper,” which is pretty much the equivalent for the “holy book” of the religion. The “flame paper” (spin on “white paper”) highlights how Liston wants 0xΩ to unfold.
Liston is looking at the religion as a framework to democratize the existing relationship between “membership and convergence” on everyone’s personal belief on the religion, highlighted a Forbes report.
The Fundamentals of Founding
The basic idea behind the Blockchain-based religion is the elimination of a top-of-the-tree governing authority. For most religions around the world, the belief sets and opinions/decisions of the top authorities inadvertently influence the thought process and practice of followers around the world. More simply, the frontline follower of the religion has very little influence on the core belief sets of the religion.
0xΩ promises to be different from other religions in that it will be more democratic, giving each follower the power to edit the “code of the religion.” Followers may decide to edit or completely revamp parts of the religion’s text. It starts with the “flame paper” itself. Or, they can make donations to causes they support.
In a remarkable gesture, artist and 0xΩ supported, Avery Singer presented a “Dogewhal” statue to show that funds will actually flow in the real world. She added that more of such art pieces can be commissioned with the help of future votes.
Will a blockchain-based religion really help?
Ever since the announcement on May 19, public opinion on the subject has largely been divided. While some may believe that the idea of a blockchain religion is “truly revolutionary”, others could outright reject the need for another religion in the first place.
For one, anything that is based on blockchain is “extremely difficult to hack.” In addition, values like decentralization and an incorruptible infrastructure are changes that any religion can make use of.
If followers cannot find consensus on an issue, the blockchain concept of “hard fork” can be used to divide 0xΩ into two separate religions.
Avery Singer noted: “In this religion, the people that participate can keep voting and changing the structure of the religion.”
While Liston is the founder of the religion, he insists he will not occupy a pope-like position. Singer beckoned him the Cryptsiah, and Cryptophet, but Liston promptly rejected both titles.
More blockchain in religion?
Above and beyond 0xΩ, Liston impressed upon the fact that all major religions of the world can also tremendously benefit from blockchain. He noted that using blockchain in religion can help self-purgation as religions get follower feedback. Moreover, donation spendings can also be transparently channelized through blockchain.
Most contextual studies have pointed out that people are more generous in spending when they know where the money is going. This could, in fact, blow up the proportion of charitable giving by people following the faith.
Liston has stated that he will draw no financial benefit from the religion. He also plans to make personal donations when the religion officially “launches” later this year. That is when we will be able to determine whether 0xΩ actually becomes a religion or is yet another cult.
At Futran Solutions, we do not reject or side with Liston’s new blockchain-based religion. But we do believe that a lot of our existing problems will be solved by technological geniuses and not necessarily by global policy-makers.
We are proud supporters of the blockchain technology and provide blockchain solutions like blockchain strategy assessment, blockchain development, blockchain integration, and blockchain testing.