How old ideas about knowledge and religion permeate the world of blockchain

"Blockchain is known as a revolutionary technology," researcher Inte Gloerich kicks off. "What’s new about it is that the system is decentralised. Because all users have access to the data, this technology has a reputation of being transparent, objective, and fair.”

Initially, blockchain was developed for cryptocurrency trading; the profit-driven nature of the system is a crucial starting point. For about a decade, blockchain has been used not only for cryptocurrencies, but also for social purposes (thanks to Ethereum and other new applications). There are now governments and NGOs that use blockchain to set up sustainability projects, trying to trade forests as data, for example.

Truth machine

Proponents of blockchain often have utopian visions of the future, and one idea shared by many of them is that blockchain is a 'truth machine'.  These visions hold that, because of its objectivity, the system can also be used to find universal truths. According to supporters, this would offer a solution for today's post-truth era, where the lines between fake news and facts are blurred.

The image of blockchain as a truth machine is founded on certain capabilities of this technology, such as its transparency – all data can be viewed. Another idea is that blockchain can reveal truths because the system is 'rational', driven by the logic of algorithms. It would therefore lead to better choices than people make for themselves (with all their emotions) or offer an alternative to the current political system.
 

Rationalism

How rational, objective and revolutionary are these views on blockchain’s capacities really? In her doctoral thesis, Gloerich shows how ideas about this 'truth machine' have their roots in Western rationalism, for example that of Descartes or Leibniz – a 17th-century ancestor of the computer.  Since that development, rational thinking has been rated higher than human emotions and embodied experiences in Western society.

As the traditional image of God disappeared from Western society, that void was then filled by a belief in technological progress, with humans taking on the role of custodian of the world. In the process, the computer has, in a way, taken the position of God, or a position between humanity and God. The reasoning goes that technology is also free of emotions and of a body, and is thus capable of more perfect rationality than humans are. "Today's tech culture still has many traces of Western thinking about progress from past centuries", Gloerich explains. 

Religion

In her doctoral thesis, Gloerich shows how the world around blockchain is not only rational, but also contains elements of religion and mysticism. The technology has been hailed as a chosen path from the very start. Not only is founder Satoshi Nakamoto worshipped almost like a messiah, but the crypto world also uses astrology and other forms of spirituality to predict volatile cryptocurrency prices.

Additionally, there is an almost sectarian group within the crypto world that regards Bitcoin as the only 'pure' way, rejecting other blockchain applications (which they call 'shitcoins'). This group also shares religious stories about a predestined coin and a rapturous heavenly reward for Bitcoin believers. Not only religiosity, but also the supposed superiority of Western rationalism permeates these beliefs.

Colonial thinking

Finally, colonial ways of thinking are also reflected in the ideas that surround blockchain, as Gloerich shows. Users dream of a society in which the market rules, with links to libertarian and radical right-wing ideologies. In addition, many Bitcoin investors seek refuge in the Global South, where emerging economies are using this as an opportunity to climb the global ladder. In fact, a new form of financial imperialism can be found here, outlines Gloerich. "Because once again, the power is in the hands of the Western tech pioneers.”

At the same time, all sorts of philanthropic blockchain projects have been created in recent years, with the aim of helping the world move forward. One notable example is the trading of forests as data to promote nature conservation, an initiative explored by Gloerich in her doctoral thesis. But as noble as this seems, Western people again emerge at the top of the pyramid – as homo economicus and custodian of nature – while centralising power in their own hands and extracting value from local communities.

Ultimately, this again reinforces existing inequality of power. This is also reflected in the power of tech giants like Elon Musk and someone like President Donald Trump, who have a considerable influence on financial prices with statements on social media.

Hope

Despite all this, Gloerich still sees some hope for different uses of blockchain technology. In particular, she sees possibilities in DAOs – decentralised autonomous organisations – used by activists as a tactic to organise themselves better, without being limited by national borders.