The Network State: How To Start a New Country

6. Property rights have become encryption. The state’s conception as the legitimate guardian of private property extends back to at least philosophers Thomas Hobbes and John Locke. But cryptocurrencies challenge this view as they establish a full-fledged theory of digital property rights outside the state.

But in the 21st century, the lines between "private" and "public" are once again rapidly blurring. Governments are behaving more like market actors, and corporations are behaving more like governments.

In a pair of recent essays, political scientist Ian Bremmer contends that Big Tech companies will reshape the global order, while FP columnist Stephen Walt’s friendly rejoinder is that states will remain predominant. We take a third view: Not only has technology already changed the global order, but it is also changing the nature of both companies ... See more