If BitCoin showed us anything, it’s that something can be made real and valuable if enough people will it into existence.

 

Literally, enough people came together and believed that a computer algorithm had a value, that a cryptocurrency never before seen, or even understood, could be real enough to convert into fiat. Just think about that for a moment, it’s quite incredible.

In December 2013, the governor of the Reserve Bank of Australia (RBA) indicated in an interview about bitcoin legality stating, “There would be nothing to stop people in this country deciding to transact in some other currency in a shop if they wanted to. There’s no law against that, so we do have competing currencies.” Australia has officially confirmed it will treat bitcoin “just like money” on 1 July 2017 and it will no longer be subject to double taxation — because enough people validated its value, even the RBA and Government’s around the world were forced to “treat it just like money”.

 

The power of the collective adoption of an idea or concept is incredibly powerful, because when enough people unite behind a commonly held belief and when enough people validate an idea — almost like magic, and almost overnight it becomes real. However, this only occurs when the concept or idea has genuine merit and potential for value and is able to stand strong against scrutiny, critique, peer review. It has to actually deliver on its potential and promise, at least enough to get the important early buy-in and then survive the second wave of early adoption.

Could I speculate that the magic formula is;

 

Genuine, strong, functional alternative + collective adoption = new value and power?

Let’s consider the power of ‘collective adoption’ and put it in reverse.

If enough people devalue, discredit or cease to validate an existing idea, a concept, or power structure — can it lose its value as magically as BitCoin gained its value and relevance?

 

Can value and power be lost through collective abnegation?

Let’s think about power for a little bit.

Let’s think about the power Harvey Weinstein had in Hollywood. That power appeared to be unyielding for years despite how despicable he treated human beings, and despite it being common knowledge, his power remained. Until of course, enough people took it from him by taking away the power he had over them to keep them silent. Weinstein lost his power very quickly.

Could poor performance + accessibility to high functioning alternatives = the recipe for the loss of power and relevance.

What about rules and authority?

Let’s go back to cryptocurrency.

Millions of people from around the world openly and actively trade cryptocurrency regardless of whether or not their Government approves it. When BitCoin and Cryptocurrencies gained value and mass adoption, the government’s power to regulate, control or rule against it became irrelevant, very few cared whether or not their Governments would support it, they had lost their power and relevance in regulating it because a new alternative presented a more desirable option.

Let’s expand on that idea some more…

If there was a genuine alternative to how our tax money is allocated and spent to solve social problems and to build a better future, if there was a better system of decision making, an evolution of democracy that appeared to function in a superior way than the existing system, is it possible that the power structure and authority of Parliaments around the world might face impending extinction?

Looking at the state of dysfunction in federal Governments around the world currently, looking at the apparent lack of desire or interest or ability to address or improve the dysfunction in any meaningful way, I feel confident in my prediction that within 15 years, the power of Parliament in modern society will cease to exist in the way we know it now.