Crowd wisdom powered by blockchain
Recently I have read an article on how a crowd beat experts and thus determined Brexit. The problem that was identified by an author is a trust problem. An individual could be mislead, but consequances of misleading a crowd could be much more dire. Are there any ways to prevent this situation from happening?
Looking at it from a blockchain perspective, yes, there are. For example, it could be done by assigning to anyone reputational tokens that are publicly traded.
Why do people lie? Sometimes unintentially, certainly, but in case of Brexit too many false promises were given rather purposefully. Many of them were taken back or 'corrected' when it was too late, that is after the referendum. What would have happened to the reputational tokens of those who lied if they had had those tokens. They would have lost their value tremendously. Would a crowd believe devalued politicians next time? Not easily, I think.
With a help of blockchain and in-built market principles we could easily make politicians (and not only them) accountable for what they say and do. Thus in future 'objective truth' has a chance to become ‘our truth’ or 'crowd truth' once again.
P.S. The picture is a quick not that perfect illustration made on a paper handkerchief