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Metaverses & NFTs: Digital Real Estate of the 21st Century

Blockchain can be traced back to originating from the ideologies of anarcho-capitalists and minarchists, and the adoption of decentralized systems has turned the global citizens of the internet into digital realtors.

A digital realtor follows the same definition, except instead of creating, buying, or selling property that you can construct a house or building on, they deal in virtual real estate, whether they know it or not.

Anarcho-capitalism might seem fringe and unfamiliar to most people, but at least it helps explain the rationale behind cryptocurrency and blockchain.

Unfortunately, those topics become even more confusing when Bitcoin and its kin get used in ways incompatible with their original inspiration—which turns out to be most of the time.

Common Beliefs

Anarcho-capitalism is a philosophy that advocates the voluntary association of free individuals under the rule of law. It is often associated with libertarianism but is not synonymous with it.

Property Rights:

Since all individuals have rights to life, liberty, and property, it should come as no surprise that anarcho-capitalists take a strong stance against illegitimate expropriation. That means theft by groups or governments is not only immoral but illegal as well.

Government:

Anarcho-capitalists generally agree with the philosophical construct known as minarchism, which holds that all legitimate government power should be maintained at the lowest level possible and localized as much as possible.

Contract Law:

Contract law is central to the anarcho-capitalist theory. In an anarcho-capitalist society, all contracts would be enforced by private entities known as arbitration agencies.

This is important because it means that two people will not be able to take advantage of an existing system by making a contract they know will not be enforced by the courts.

This would ensure two things:

  • First, that both parties involved in a contract are fully aware of its terms
  • Second, that both parties involved in a contract intend for it to be enforceable

Personhood:

An anarcho-capitalist society has no need for the concept of personhood and would not include it in any form of law. In other words, there is no such thing as “human rights” that can be enforced against individuals or groups of people under an anarcho-capitalist system.

Non-Aggression Principle:

Non-aggression is the liberty to interact peacefully with others while avoiding the initiation of aggression.

Prisoner’s Dilemma:

This is the classic moral dilemma involving two prisoners who are willing to cooperate but cannot because they are not sure if their cooperation will be reciprocated.

Critics

Libertarians argue that anarcho-capitalism and minarchism are synonymous in more ways than one.

Anarcho-capitalists argue that the best form of government is a minimal state with as few rules and regulations as possible.

Minarchists argue that a smaller government is only the first step in achieving anarchist ideals as such a state may have to grow into a larger state.


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