A quick history of Marxism
Developed by Karl Marx in the 19th century, Marxism was the first evolution of the Socialist movement. His ideology: the power struggle between the institutional owners (capitalists) and the workers (proletariats) will become so divisive that the proletariats will rise against the ruling class and take control of society and the economy. Parody news…
In this he assumes that capitalism is a flawed ideology and at some unspecified point the working class will rebel, bringing equality to all.
While the movement Karl Marx envisioned was no doubt entirely different, there are certain parallels between the cryptocurrency movement and the principles outlined by Karl Marx in the 19th century.
How this relates to cryptocurrencies
For this, we need to start at the beginning – Bitcoin (BTC). Bitcoin was designed by an individual(s) under a pseudonym. This means that no one has or ever will be able to take the credit for its creation. This makes it inherently the property of both no one and everyone. Bitcoin has become the currency that has transformed the way we think about what money can be. For the first time in history, there was scope for a global monetary system that was non-state controlled and fully owned by its users.
Thus, Bitcoin started the cryptocurrency movement with a slow but gradual transformation towards a decentralised and user-owned economy. Back to one of Marx’s key ideas – the working class will rise and take control of the economy. A user-owned financial infrastructure is a modern-day emulation of Marx’s core principles.
Ethereum was the first mover in the smart contract space, fostering the early Decentralised Financial revolution. The ETH token facilitates all DeFi transactions on its now huge web of DApps.
The core concept behind Ethereum and most other cryptocurrencies is taking the power back from the institutions, reinvigorating the little man and evoking a sense of financial empowerment to the many. This revolution does not end in the financial world.
Web3 and the next generation of internet and connectivity
When Marx said the many would rise against the ruling elite, he said so from a 19th-century perspective, as said above, the revolution we are seeing today is no doubt different to what he would have expected.
The internet has become synonymous with our economy and because of this what happens to one does very much affect the other.
Web3 has become known as the next evolution of the internet, powered by blockchain. Like with DeFi, this version of the internet is user-owned and decentralised. Parody Coin (PARO) is the next generation multichain protocol, by connecting blockchains and enhancing our understanding of Web3.
So, the similarities between Marxism and the decentralised movement are definitely there. However, the best of Marxism has been taken and mixed with modern technology, without the possibility of social upheaval. It is also very true that the kind of social rebellions that were common practice in the 19th and 20th centuries, the likes that Marx was no doubt referencing, are far less likely to occur in today’s civilised world.
The cryptocurrency movement can certainly be likened to Marx’s ideals outlined in the 19th century. A user-owned financial and interconnected framework; taking the best from Marxist ideology and implementing it into the modern-day.
Parody Coin presents a great opportunity to invest in an innovative sector of Web3 and DeFi. Still in its presale, it is certainly a coin worth checking out now.
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