Technocracy is a system of governance in which decision-making and the allocation of resources are based on technology, rather than politics or economics. In a technocratic government, decisions are made by experts, scientists or engineers who use their expert knowledge to determine the best course of action for society as a whole. Technocracy has been proposed as an alternative to traditional democratic systems and can be seen as a form of meritocracy.
In some ways, technocracy is similar to socialism, in that it seeks to promote economic equality through collective ownership and control of production. However, unlike socialism—which usually involves centralized planning—technocrats advocate decentralized control over economic activities via automation and computerized regulation systems. The goal is to eliminate bureaucracy in favor of efficiency and cost savings while ensuring equitable access to resources for all citizens.
When it comes to cryptocurrency specifically, technocrats generally support distributed ledger technologies such as blockchain because they allow for increased transparency and security compared with traditional banking systems. Additionally, these types of networks can facilitate trustless transactions between two parties without requiring third party intermediaries like banks or governments. This allows individuals greater autonomy when making financial choices since there is no need for permission from authorities before conducting transactions on public blockchains such as Bitcoin’s blockchain network or Ethereum’s Ethereum Virtual Machine (EVM).
Proponents argue that this type of system would help reduce corruption by eliminating the influence politicians have over money supply due to their ability to print money whenever they feel necessary; additionally digital currencies could potentially replace fiat currency altogether if enough people adopt them instead using state issued paper money backed by debt obligations created out exchangeable commodities like gold or silver coins held in reserve at central banks throughout the world today – something many advocates believe will eventually occur once more countries start embracing cryptocurrencies into their own monetary policy frameworks replacing existing paper monies with digital assets pegged against various asset classes depending upon each nation’s specific preferences & needs going forward into the future when it comes down how nations decide manage their finances relative one another geopolitically speaking globally speaking regarding international trade agreements amongst themselves moving forward within our ever increasingly globalizing economy worldwide today & tomorrow alike!