Will Blockchain replace Religion?
Regular readers will know, I am fascinated by the Theory of Evolution, and the most insightful way of understanding the world as it is today is by understanding the evolutionary forces that lead it to become this way today!
A simple example of how evolution can help you understand the world - why do peacocks have a large plume of feathers? If you look at it from the point of view of competitive forces, then it is an incredibly stupid thing to have - it makes you less nimble, more vulnerable, and it consumes a lot of resources to grow that large plumage of feathers. But still, peacocks have not outgrown it the way say the man has outgrown the tails of his simian brethren. The reason is that it fulfills a role as a symbol to potential mates - a peacock strutting its feathers is sending a message to potential mates - look at how healthy I am and how much access to resources I have to maintain this plume of feathers.
Similarly, you may want to ask the question - why does religion exist? Any pseudo-intellectual can tell you the problems with religion - it is divisive and leads to violence. Now you may say something like - it’s food for the soul, gives me peace, gives me inner strength, succor in times of distress, etc. But my counterpoint is - if that is so, then why does formalized religion exist? Where you are required to follow certain rituals and customs - like fasting on certain days or praying 5 times a day in a certain direction.
The evolutionary justification of religion is like this - for a long time, humans lived in small groups of up to 50 people. The tribe was just large enough for everyone to know everyone else. In such a scenario - it was relatively easy to trade as the trust on which all commerce is built existed by the virtue of proximity. But as humans organized themselves into cities and states, the problem of trust to facilitate commerce began to be bigger. How do I trust him to pay me for my wares next month?
In this kind of society, religion acts in the same way as the feathers of a peacock. It symbolizes to the other party that I am a god-fearing person, and follow a certain code in my life and therefore you can trust me. And that is the reason for formalized religion to exist. It is expensive to be a part of formal religion. You need to follow a certain dress code, you need to practice abstinence (fasting/ sex, etc), spend time in prayers or attending service - time that you could have otherwise used in more commercial activities. If you are willing to spend the resources to be a part of formal religion, then it serves as a strong signal of your commitment to the moral code of that religion and hence makes you someone I can trust and trade with.
All the major religions today arose when human society was struggling with challenges of size, complexity of scarcity
Part of the reason that religion is weakening today is that many of the reasons for religion to exist are not so strong anymore. We are no longer living in a world of scarcity where following a religious code would allow a more equitable sharing of resources. We now have other ways to organize ourselves. You no longer need to trust a taxi driver on a standalone basis if you are using a service like Uber. You no longer need to trust people with money if you can access their credit score. You can now hire people on the basis of their education tag. Ivy-league education is a stronger symbol of competence and work ethic than the religion that you follow. The legal frameworks are much stronger now, and if you have faith in the law then you have even less reason to worry about people cheating you.
What’s more, I predict that blockchain is the next level replacement of religion - when you are able to transact on blockchain platforms, your reliance on relationships for trust is even lesser.
What do you think?
Will blockchain cause the demise of organized religion as we know it? Or will we be still practicing formalized religion in 2500 AD?
This article is inspired by this podcast and written by me for #SlipStream, a newsletter published by the ThePodium. Click here to read & subscribe to the newsletter.