“There is a striking parallel between the emergence of the modern state and the goals of the technology we have discussed in this chapter. In scaling society up from tribes and small groups, governments have had to confront precisely the problem of enabling secure commerce and other interactions among strangers. The methods may be very different, but the goal is a shared one. Although a maximalist vision for decentralization might involve dismantling the state, this is not really a viable vision, especially when others who share our democracy want a state. However, decentralization through technology is not necessarily in opposition to the state at all. In fact, they can be mutually beneficial. For example, assuming well-identified parties, transfers of smart property can use the block chain for efficient transfers and still use the court system if a dispute arises. We think the big opportunity for block chain technology is implementing decentralization in a way that complements the functions of the state, rather than seeking to replace them. It”