The Block and the Chain
To manage the identity of accelerated, financial risk we now have the “blockchain.”
Blockchain is a device derived from the need to identify who owns what at any given time (i.e., the identity of things occupying space over time). It is a digital device operating with an algorithm scripted to authenticate title to “the currency” it represents. This “currency” (representing useful value on demand) is an electronic device using encrypted coding to reliably identify blocks of time in a series or a chain.
The block is a measurable thing and the space it occupies over time is the chain, tracking the changing identity of things that occupy space over time.
Blockchain is described as a form of artificial intelligence. It operates, however, with integral and derivative values, like we see in nature, which gives it the reliability and credibility of a “natural identity” that can be described as “objective reality” despite what may be artificially attributed to it.
It is a phenomenology of the mind, as Hegel would describe it, derived (actualized) from objective reality, which in the realm of financial-risk management is the fully assumed determination of the loss before it ever actually happens (i.e., logical determinism). The logic of the blockchain algorithm is just like the determinism Hegel, for example, described, identifying the work of art that actually imitates life, adding identity in blocks, in a chain, to occupy space, on demand (with measurable currency), over time.
(See “The Added Identity” by griffithlighton published on WordPress.)
In the image above, the colors that shape the chain of blocks changes by adding identity to the space it occupies. Changing the color contrast and intensity of the mat changes the actual perception of the subject without really changing its objective reality. What actually happens, then, is realization of its useful value (currency) over time. I can repaint the picture or I can just change the mat to re-author its identity, which is the inherent limitation to the use of the blockchain as a means of risk management for most people, determined by other derivative devices.