I sunk deep in thoughts after listening to one of the podcasts from Jordan Peterson, named "Bitcoin: The Future of Money", exploring the depths of bitcoin compared to the fiat currency that we have long been used.

It seems to me that Bitcoin is the catalyst to get into the new dimension. As romantic of an idea it may seem, it is undeniable that it broke the structure of power within organizations.

In management practice and theory, power is the one central concept, perhaps most notable in politics where the elites have the highest authority. One of the most obvious examples related to economics is the scarcity of currency. The authority can determine that a piece of paper holds intrinsic value to trade and exchange.

However, to the surprise of many, Bitcoin is not defined by anyone or any power. It is an open-source computer code that is accessible to anyone, but there exists a chain of rules hard-coded in itself, called the consensus rule. In simpler terms, if you were to invest in Bitcoin, you have to follow the rule of the game itself that is agreed upon by the community, and it throws off the central concept of power in this organization.

References

https://www.jstor.org/stable/24701051?read-now=1&seq=1#page_scan_tab_contents

(Power and Politics in organisations)

(Jordon B Peterson Podcast)

https://medium.com/@BangBitTech/what-is-consensus-algorithm-in-blockchain-different-types-of-consensus-models-12cce443fc77

(Blockchain consensus model)

Photo Credit: André François McKenzie | Unsplash