Will blockchain fulfil its democratic promise or will it become a tool of big tech? | John Naughton

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Engineers are focused on reducing its carbon footprint, ignoring the governance issues raised by the technology

Photograph: Andrey Rudakov/Getty ImagesPhotograph: Andrey Rudakov/Getty Imagesfirst made its appearance in 2009, an interesting divergence of opinions about it rapidly emerged. Journalists tended to regard it as some kind of incomprehensible money-laundering scam, while computer scientists, who were largely agnostic about bitcoin’s prospects, nevertheless thought that the distributed-ledger technology that underpinned the currency was a Big Idea that could have far-reaching consequences.

 

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“No powerful people will ever use it” 😭

Will it? I've got news for you: it's already a scam by rich tech people and it's rapidly accelerating climate change. It needs to be banned.

Ofc no!

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