We can build a social system on Cardano

Money cannot be separated from the governments since money needs to be surrounded by the social layer. In the article, we will have a look at how smart contract technology can be used for building a decentralized social layer.

How the current social system works

The majority of people usually live in a social system that is bordered and has some form of government. Let’s explain what exactly means to be part of the social system in the context of the article. We begin with the current social system. The government consists of the legislature, executive, and judiciary. A legislature is a deliberative assembly with the authority to make laws for a political entity. In the separation of powers model, the legislature is often contrasted with the executive and judicial branches of government. The executive is the branch of government exercising authority and holding responsibility for the governance of a state. The executive executes and enforces the law. The executive enforces the law as written by the legislature and interpreted by the judiciary. The executive can be the source of certain types of law, such as a decree or executive order. Executive bureaucracies are commonly the source of regulations. The judiciary is the system of courts that interprets and applies the law in legal cases. The judiciary is the system of courts…