As a generation, we have seen a lot of technological disruption and innovation. In 1995, we connected to the Internet on 14.4 Kbps dial-up modems from a computer. We now routinely get speeds 100-1000 times faster with the smartphones in our hands. We can summon goods, foods and cabs with the click of a button. We have the world’s information available with a click. We are no longer just passive consumers; we are also content producers – our wit, tweet, photo or video can be spread to our tribes or across the country with the same ease. We have harnessed the power of solar and the promise of AI. We went from virus to vaccine in less than a year. In the midst of a pandemic, many of us can do our work and manage our businesses from the safety of our home – something unimaginable just a few years ago.
We are on the cusp on even more exponential change. A chart from Balance Point Ventures tell the story of our immediate past and near future:
One very interesting innovation (predictably banned by India’s politicians) has been Bitcoin. Look at its astonishing rise over the past 8 years:
Bitcoin’s rise has in part been driven as a safe haven against the debasement of fiat currencies by central banks which keep printing more and more money, especially after the 2008 Global Financial Crisis and then on steroids in 2020 during the pandemic. Bitcoin’s idea was first proposed as a set of rules laid out in a white paper by Satoshi Nakamoto in 2008. The first bitcoin trade happened in 2010. The current market cap of bitcoins is $600 billion. All of this has happened with no single person or entity in charge – in a single decade.
Can something similar happen in politics? Can the combination of a contract (agenda), constitution (rules) and code (software) create a disruption in India’s politics? I believe so. The triad of United Voters of India (UVI), Nayi Disha and Dhan Vapasi can, in a thousand days, build on the power of P2P to launch an irreversible virtuous cycle of freedom and prosperity (Lakshmi) for 1.3 billion Indians.