Anarchism is a social system in which the market provides all public goods and services, such as law and order. Although the majority of anarchists oppose all large institutions, public and private, anarcho capitalists oppose the state but not private players with strong market power. Because anarcho capitalism is based on a capitalist economic system, it necessitates the existence of markets, property, and the rule of law. Anarcho Capitalists believe that without the existence of a state that coerces citizens into paying for or following legal institutions, private firms will supply the products and services required for society to function in peace and good order.
What matters is that it is gained and transmitted without the assistance or hindrance of the obligatory state. Anarcho-capitalism is a utopian ideal based on capitalism, but it cannot be realized until both persons and institutions reject force. Beginning with the premise of individual liberty, it grants no function to the state other than to enforce the interests of individual people. According to this viewpoint, the state should be nothing more than a collection of individual preferences, with no compelling public interest.
The idea of "original appropriation" permits anybody to claim absolute ownership of any resource that has not previously been utilized. Another fundamental idea is "self-ownership," which refers to an individual's ultimate right over their own body. Many anarcho-capitalists see blockchain-based decentralized technology as a way to overcome the practical challenges of anarcho-capitalism.
They argue that decentralized services provide an alternative to the state's bureaucratic tasks, notably by providing immutable and publicly accessible records of identification and contractual commitments (the latter via smart contracts).