There are real issues in the above.
Block chain is hugely computationally complex. At present a maximum of about 1,000 additions per second are possible – not enough for a global system of exchange or trust. Something less computationally intensive is required.
I am all for open and transparent, and the cloud as currently instantiated is not that – it is centralised and open to central control and capture and single point failure.
Reliability demands decentralisation, and massive redundancy.
“Trust” demands reliable secondary strategic systems to prevent invasion and capture by “cheating” strategies. We need to be able to trust, and we need systems that backup that trust that deliver a reasonably high probability (approaching unity) that cheats will be discovered and appropriately dealt with (all benefits plus a little bit, removed, and returned to cooperative activity).
Transaction is an interesting word.
I prefer agreements – which implies conversations and ultimately demands consensus in all but the most dire of existential level threat situations.
So I like the general direction of this idea of collective intelligence, and a lot more attention needs to be made to the details of games theory, complexity theory, network theory, and stability of complex adaptive systems in open, far from equilibrium, conditions.