General

Governments around the world have indeed taken on more and more functions over time. As a result, they now guarantee the operation of many services once provided by the private sector. They also collect massive amounts of taxes and often demonstrate inefficiencies in their operations. However, it is essential to remember that government expansion has not always been wrong. In many cases, government intervention has improved the lives of citizens and made societies better overall. For example, establishing public education systems and developing social safety nets have helped reduce poverty and improve economic opportunity. It is also important to note that the private sector is not always efficient or effective in providing certain services, such as infrastructure or defence. In the end, whether government expansion should be reversed is complex. There are pros and cons to both sides of the argument, and there is no easy answer. However, any decision on this matter must be made with care and thoughtfulness, as it could have significant implications for society. The role of the government in society There is no doubt that the government plays a vital role in society. It is responsible for providing essential services, protecting citizens from harm, and ensuring that the country functions smoothly. However, there is a debate over whether or not the government should continue to expand its role in society. Some believe that the government should be limited in scope, while others believe it should play a more active role. (Noryigitovich, 2022) Those who support a limited government argue that the government should only be responsible for those things that are necessary. They believe that the government should stay out of healthcare and education, which are better handled by private entities.  They also believe that an expansive government creates more bureaucracy and red tape, stifling innovation and entrepreneurship. (Bedell, 2014) Those who support a more expansive government argue that the government plays an essential role in providing for the common good. They believe that the government should be involved in healthcare and education because these are essential to ensuring that all citizens have access to basic needs.  They also believe that the government can play a positive role in promoting economic growth and opportunity for all. The debate over the role of the government is likely to continue for many years to come. There is no easy answer, and each side has valid arguments. Ultimately, it is up to society to decide how much involvement the government should have. (Lee et al., 2022) The benefits of a limited government The ever-expanding role of government is a cause for concern for many people. They see governments as collecting more taxes, becoming more bureaucratic, and taking on functions that are best left to the private sector. There is some merit to these concerns. There are advantages to having a limited government. A limited government has restricted powers compared to an unlimited or absolute government. This type of government is typically associated with constitutional democracies like the United States. (“What Is a Limited Government?”, 2022) Some of the benefits of a limited government include: – Protection of individual rights: A limited government is more likely to protect the individual rights of its citizens than an unlimited government. This is because a limited government has less power and thus is less able to infringe on the rights of individuals. – Checks and balances: A limited government is also more likely to have checks and balances in place, which help to prevent abuse of power. For example, in the US, the three branches of government (executive, legislative, and judicial) are designed to check and balance each other. – Greater accountability: A limited government is typically more accountable to its citizens than an unlimited government. This is because a limited government has less power and thus is less able to act without accountability. – More efficient: A limited government is typically more efficient than an unlimited government. This is because a limited government has fewer powers and thus can focus on a smaller number of tasks. Overall, there are many advantages to having a limited government. A limited government protects the individual rights of its citizens, has checks and balances in place to prevent abuse of power, is more accountable to its citizens, and is more efficient. Arguments for the continued expansion of government Arguments can also be made in favour of continued government expansion. First and foremost, government expansion can lead to greater efficiency and effectiveness in delivering public goods and services. This is because larger governments can pool resources and talents and better coordinate their activities. Additionally, government expansion can help reduce social inequalities by providing more resources to disadvantaged groups. Finally, government expansion can promote economic growth by providing additional opportunities for investment and employment. Of course, there are also arguments against government expansion. Some worry that larger governments will be less responsive to citizens’ needs and more prone to corruption. Others believe that government expansion will lead to higher taxes and an enormous bureaucracy, which can be burdensome for taxpayers and businesses. Ultimately, the decision of whether or not to expand government depends on the weighing of these pros and cons. Conclusion Conversation on the topic is a good thing. There is no easy answer regarding whether the government should continue to expand its role in society. Each side of the debate has valid arguments. Ultimately, it is up to society to push on how much involvement the government should have. However, a few general conclusions can be drawn about the role of government in society, which are arguably non-arguable. First, a limited government is more likely to protect the individual rights of its citizens than an unlimited government. This is because a limited government has less power and thus is less able to infringe on the rights of individuals. Then, a limited government is typically more efficient than an unlimited government. This is because a limited government has fewer powers and can focus on a smaller number of tasks.

Political parties rely heavily on financial assistance to sustain their activities. This has led to a situation where financiers of a party can unduly influence the outcome of elections and the policies of political parties. The question we ponder over is whether the state should sponsor political parties or whether the state should not sponsor political parties. There are arguments for and against this practice. Those who argue in favour of state sponsorship of political parties say that this is necessary to ensure that all parties have access to the resources they need to participate in the political process.  They also argue that state sponsorship helps to ensure that parties are accountable to the electorate and are not unduly influenced by private interests. Those who argue against state sponsorship of political parties say that this practice leads to undue influence by the state over the political process.  They also argue that state sponsorship of political parties is unnecessary and that private donations should be used to finance party activities. (Adra, 2022) The question of whether the state should sponsor political parties is a complex one. There are valid arguments for and against this practice. Ultimately, the decision must be made case-by-case, considering each country’s specific circumstances. What are the benefits of state sponsorship of political parties? State sponsorship of political parties has several potential benefits: It can help ensure that parties are representative of the electorate. It can help ensure that parties are accountable to the electorate. It can help ensure that parties are responsive to the electorate’s needs. It can help ensure that parties can govern effectively. It can help ensure that parties are committed to democracy and the rule of law. It can help ensure parties can participate in elections fairly and transparently. State sponsorship of political parties can help promote stability and order within society by helping to prevent extremist or violent groups from gaining power. Thus, state sponsorship of political parties can play an essential role in ensuring that parties can function effectively and democratically.  While some risks are associated with state sponsorship, such as the possibility that parties may become excessively dependent on state support, these risks can be minimized through careful regulation and oversight. (Onyinkwa, 2017) Overall, state sponsorship of political parties can positively influence democracy and good governance. How can state sponsorship curb the monetary syndrome in our politics There are several ways in which state sponsorship can help to curb the monetary syndrome in our politics. One way is by providing financial support to political parties and candidates who espouse sound economic policies.  Countries need to fairly back candidates who espouse sound policies now more than ever. This will help to ensure that these parties and candidates can compete effectively against those who advocate for unsound economic policies. Another way state sponsorship can help curb the monetary syndrome in our politics is by providing educational resources to the public on sound economic policies.  This will help to ensure that voters are informed about the implications of different economic policies and can make more informed choices when voting for political candidates. Still another way state sponsorship can help curb the monetary syndrome in our politics is by working with the private sector to promote and explain sound economic policies.  This can involve, for example, providing tax incentives or other forms of financial support to businesses that adopt sound economic policies. So state sponsorship can play a vital role in curbing the monetary syndrome in our politics. By promoting sound economic policies, state sponsors can help ensure our politics is more stable and prosperous. The pros and cons of state sponsorship of political parties There is no one answer to whether or not states should sponsor political parties. The pros and cons of state sponsorship of political parties depend on the specific context in which the question is asked.  Some arguments in favour of state sponsorship of political parties are that it can help to ensure more stable governments, promote democracy, and provide a check on the power of special interests.  Some arguments against state sponsorship of political parties are that it can lead to corruption and cronyism, entrench incumbents, and undermine competition. Ultimately, whether or not states should sponsor political parties is a decision that must be made on a case-by-case basis. Arguments in favour of state sponsorship of political parties typically centre around the idea that it can help to ensure more stable governments. In countries with weak or fragmented political parties, state sponsorship can help to provide the resources and organization necessary for these parties to be viable contenders in elections.  This, in turn, can lead to more democratic and representative governments. Moreover, state sponsorship of political parties can help to check the power of special interests. In many countries, it is common for special interest groups (such as businesses or religious organizations) to sponsor particular political parties. This can give these groups undue influence over government policy. State sponsorship of political parties can help to level the playing field and ensure that all voices are heard. Another argument against state sponsorship of political parties is that when the state sponsors a particular political party, it can create a situation in which that party might get excessively dependent on government resources.  This, in turn, can lead to corruption and favouritism as politicians seek to repay the debt they owe to their sponsors. Moreover, state sponsorship of political parties can entrench incumbents and make it difficult for new parties to emerge.  In many countries, state-sponsored parties are extensions of the existing government bureaucracy. This makes it difficult for opposition parties to compete and ultimately undermines democracy. The decision of whether or not states should sponsor political parties is a complex one. There are arguments to be made both in favour and against state sponsorship. Again, ultimately, the decision must be made case-by-case, considering the specific context in which the question is being asked. Conclusion I know I’ve made some impractical points

In my opinion, the benefits of blockchain are being paraded as akin to that of cryptocurrencies and while to a large extent that is accurate, from the few conversations I have had over the past weeks, there needs to be an urgent understanding of each of them, and both. For instance, while all cryptocurrencies utilise blockchain technology but not all blockchain technology is cryptocurrency.  In elementary terms, cryptocurrency is a digital currency. Its transactions are all verified and secured using a decentralised system that operates by cryptography.  Cryptocurrencies are not backed by centralised systems and are not controlled by regulating authorities. These currencies are largely autonomous and public, which to some is the best feature, while to some, is the opposite because of the associated risks. As a result of the encryption (cryptographic) technologies they use, these (crypto) currencies act as both virtual accounting systems and also as currencies.  On the off chance you are still a tad confused as to what precisely it may be or how it may be used in real-life settings around you, think of cryptocurrencies as mobile money but on steroids. Think of it as mobile money, but more secure, arguably un-hackable, as anchored and cemented as a US Bullion Depository in Fort Knox – Good luck robbing that!  What precisely is blockchain technology? Fun fact: blockchain technology is actually older than cryptocurrencies. It is the core or backbone technology that cryptocurrencies run on. It is a decentralised (public) digital book of accounts or ledger.  As IBM explains it, “Blockchain is a shared, immutable ledger that facilitates the process of recording transactions and tracking assets in a business network. An asset can be tangible (a house, car, cash, land) or intangible (intellectual property, patents, copyrights, branding). Virtually anything of value can be tracked and traded on a blockchain network, reducing risk and cutting costs for all involved“ (What Is Blockchain Technology? – IBM Blockchain | IBM, n.d.) Blockchain technology has the ability to share data without being copied and has been named among the most secure and innovative technological inventions in the 21 century. Experts in blockchain technology would tell you that there are three pillars it stands on, namely, decentralisation, transparency, and immutability. Payments made using blockchain technology leave virtually no room for the kind of chicaneries employed by centralised financial institutions.  What are cryptocurrencies? So as you may know already, Bitcoin was one of the very first public and fully operational cryptocurrencies. There are many kinds of cryptocurrencies. The differences depend on how they are coded or designed and the purpose they are supposed to serve. Typically, we can list four of them as some of the primary or primarily used ones by the market. This site helps illustrate this a tad more and proffers more clarification.  “Coins: Coins can be differentiated from altcoins because they are based on their blockchain. On such a blockchain, they act as the native token as well as gas or fuel payment token, although a blockchain can have the gas paid in a different cryptocurrency. A good example is Bitcoin on the Bitcoin and Ether or ETH on the Ethereum blockchain. In terms of constructing or developing a cryptocurrency, it starts or comes along with developing a blockchain. Altcoins: Although these can be regarded as coins, they are all understood to be alternatives to Bitcoin as the first cryptocurrency. Also known as shitcoins, apart from Ethereum, most of the first ones were forked from Bitcoin. These include Namecoin, Peercoin, Litecoin, Dogecoin, and Auroracoin. That said, some altcoins like Ethereum, Ripple, Omni, and NEO have their blockchains. Others do not. Tokens: Tokens are the digital representations of a particular asset or utility in a blockchain. All tokens can be termed altcoins, but they are differentiated by residing on top of another blockchain and not being native to the blockchain on which they reside. They are coded to facilitate smart contracts on blockchain networks like Ethereum, and we can transfer some from one chain to another. The tokens are embedded in self-executing computer programs or codes and can operate without a third-party platform. They are also fungible and tradable. They can be used to represent loyalty points and commodities or even other cryptos. When designing or coding a token, the developer will require following a given template. The developer does not need to edit or code the blockchain from scratch. All they have to do is follow a given standard template. It is faster to come up with a token.“  In order to obtain an even better overview, let us compare these different kinds of cryptocurrencies for perspective.  Type Main feature  Examples Utility tokens Meant to provide access to platform service where they reside. Funfair, Basic Attention Token, Brickblock, Timicoin, Sirin Labs Token, and Golem. Security tokens Usage and issuance are governed by financial regulation. Sia Funds, Bcap (Blockchain Capital), and Science Blockchain. Payment tokens Used for paying for goods and services inside and outside their own platforms. Almost every crypto falls in this category. Monero, Ethereum, and Bitcoin. Exchange tokens Exchange tokens are native to crypto exchange platforms. Binance Coin or BNB token, Gemini USD, FTX Coin for FTX Exchange, OKB for Okex exchange, KuCoin Token, Uni token, HT for Huobi exchange, Shushi, and CRO for Crypto.com. Non-fungible tokens Non-fungible tokens are cryptocurrencies with limited issuance that have unique identities and tokens that make them hard to copy or replicate. Good examples include Logan Paul’s video clips, Twitter Founder Jack Dorsey’s first tweets NFT, EVERYDAYS: The First 5000 Days drawings by Mike Winklemann, better known as “Beeple”, and several crypto kitties. (Types Of Cryptocurrency And Tokens With Examples, 2022) Uses of blockchain and crypto Owning crypto is akin to buying and storing or trading stocks on Wall Street because one takes a bet on its stability and fiscal security. People who are engaged in buying and holding crypto per se, are doing largely the same thing but with this digital currency. And there lies the risk; many have made millions, and many have lost millions – can you afford to risk it? On the other