Blockchain's Role in the Ontological Concepts Development

ABSTRACT: Blockchain is a new technology based on the idea of decentralization, which means the impossibility of control by governments or any other centralized entity. Studying Blockchain from the viewpoints of the philosophy of politics, economics and the law shows significant changes in the nature of human concepts such as trust, power, institution, money and law. This emerging revolution is driving these concepts from human-controlled system to an algorithmic structure, which would lead to an anarchic, self-sufficient world with self-determinism individuals. This research is an attempt to discover novel ontological changes in the traditional concepts due to the emergence of the new modern technology called Blockchain.

KEY WORDS: Blockchain, Cryptocurrency, Ontology, Algorithm, Concept