Can blockchain become a technical supplement to the anti-monopoly law?

According to related reports, the Korean National Assembly voted on August 31 to pass an amendment to the Telecommunications Business Act, prohibiting major store platforms such as Apple and Google from using their payment systems and charging 30% commissions. If the bill goes into effect, South Korea will become the first country in the world to restrict technology giants from drawing on app stores. In today’s Internet age, it is a common problem for technology giants to receive a lottery. Is South Korea’s approach “first” or “only one share”? let us wait and see.

Since Apple and Google have put forward hard and fast commission requirements, software developers and practitioners have been miserable. It is precisely because of this that these practices have aroused the attention of regulatory authorities. Since last year, the European Union, the United States, Australia, India and other countries and regions have successively conducted antitrust investigations on Apple.

It is not difficult to imagine why the regulators suddenly hit Apple and other technology giants. On the one hand, it is to avoid market economic imbalances caused by industry monopolies; on the other hand, it is to increase the supervision of large technology companies.

Can blockchain become a technical supplement to the anti-monopoly law?

Source: Internet

The shock that the Facebook stablecoin incident brought to the world in June 2019 can still be felt. Many central banks in the world are actually afraid of a private company’s compliant digital currency project. According to the analysis of the European Central Bank in 2020, if Facebook successfully issues stablecoins, its market value will exceed the UK GDP and become Europe’s largest monetary fund. The data shows that these technology companies not only have a monopoly position, but in fact are larger and more influential than the GDP of many sovereign countries in the world (such as the United Kingdom and South Korea). Therefore, it is understandable that South Korea proposed a policy of restricting large technology companies at this time.

Can blockchain become a technical supplement to the anti-monopoly law?

Source: Internet

It is the trend of the times that the network economy becomes the mainstream, and it is also an indisputable fact that the Internet platform gathers market resources. In the face of opposition from all parties, Apple and Google have both made concessions in commissions, reducing commissions from 30% to 15% for developers who meet their conditions. On September 2 this year, Apple announced to the outside world that it would allow some application users to make payments on external websites.

The reason why technology giants dare to charge high commissions is simply because they have a large amount of personal information resources and traffic entrances, and most of this information is currently owned by platforms on the Internet, rather than owned by individuals. In game theory , Favorable will deviate to the platform.

In a sense, the blockchain-based inter-chain network is a supplement to the anti-monopoly law. The blockchain is jointly maintained by multiple parties, thereby establishing trust between the parties and promoting fair and free transactions between multiple parties. ; The information on the inter-chain network belongs to individual owners. Individuals, platforms, and developers (merchants) are contributors to the entire ecology. The distribution of benefits should be fair, and consumers should not be able to contribute traffic and contribute to This part pays an extra price.

 

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/can-blockchain-become-a-technical-supplement-to-the-anti-monopoly-law/
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