Nouriel Roubini - The Big Blockchain Lie
Have the wheels bring come upward off the wagon?
Yet far from ushering inward a utopia, blockchain has given ascent to a familiar shape of economical hell. H5N1 few self-serving white men (there are hardly whatsoever women or minorities inward the blockchain universe) pretending to hold upward messiahs for the world’s impoverished, marginalized, together with unbanked masses claim to bring created billions of dollars of wealth out of nothing. But 1 bespeak alone see the massive centralization of ability amid cryptocurrency “miners,” exchanges, developers, together with wealth holders to run across that blockchain is non nearly decentralization together with democracy; it is nearly greed.
Project Syndicate
Nouriel Roubini - The Big Blockchain Lie
Now that cryptocurrencies such every bit Bitcoin bring plummeted from concluding year's absurdly high valuations, the techno-utopian mystique of so-called distributed-ledger technologies should hold upward next. The hope to cure the world's ills through "decentralization" was only a ruse to divide retail investors from their hard-earned existent money.
Yet far from ushering inward a utopia, blockchain has given ascent to a familiar shape of economical hell. H5N1 few self-serving white men (there are hardly whatsoever women or minorities inward the blockchain universe) pretending to hold upward messiahs for the world’s impoverished, marginalized, together with unbanked masses claim to bring created billions of dollars of wealth out of nothing. But 1 bespeak alone see the massive centralization of ability amid cryptocurrency “miners,” exchanges, developers, together with wealth holders to run across that blockchain is non nearly decentralization together with democracy; it is nearly greed.
Project Syndicate
Nouriel Roubini - The Big Blockchain Lie
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