ETPO - Emerging Technology Policy Observatory

Bitcoin, please, do not sell me the promised land!

Advertisements

Since last July, when I wrote the first article on blockchain, I have written three blog posts, I have been interviewed twice on the topic, I have contributed to a conference on the topic. Am I a blockchain expert? No really. I am a researcher trying to understand the interconnections between blockchain and the Internet of Things. I do a fair amount of reading on the topic. And, also, most importantly, I listen to the experts. But, then, I think I need to filter between the experts and who is promising me a joyful future. In the latter category, there are a number of people contacting me presenting me a lucrative future with bitcoin. In their mind, I look like the picture below.

The blockchain/bitcoin expert promising “the promised land” comes to me with emails such as: “invest in bitcoin and you will earn €13,000 in 24 hours!” Now, my father uses to tell me that there is not such a thing like the promised land and there are not builders of promise land unless the builders have some return. Therefore, after several of these emails and conversations, I am start thinking that all this damages the beauty of the philosophy behind blockchain. Blockchain means democratisation of opportunities and eliminating favouritism due to not very transparent middlemen. If the main objective of the blockchain is becoming rich as quick as it is possible and effortless, then, the blockchain is not the revolution we are looking for!

Advertisements