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> the general problem of being able to transact freely across the globe with radically reduced risk of government interception is a legitimate problem for many
by n4r9 4y ago
> the general problem of being able to transact freely across the globe with radically reduced risk of government interception is a legitimate problem for many individuals now and in the past, who live under governments with unjust laws
I'm far from convinced that blockchain solves this. For a transaction system to be used in a serious and widespread manner, there must be recourse in case money is lost to fraud, hacking etc... . Currently this is typically provided by some goverment/state body regulating the system and prosecuting criminal abuse of it. I haven't seen any good arguments that cryptocurrencies can provide this kind of security without government involvement.
Blockchain might provide a provisional workaround for people under unjust governments, but the long-term robust solution to me seems to be political and cultural progress, not technology.
- gfodor 4y agoTechnology leads norms, not the other way around. Technology doesn't dictate norms, but forces materialization of norms that otherwise wouldn't be necessary.
- n4r9 4y agoThere are some situations where technology forces a reassessment of norms, yes. But this is beside the point, which is that blockchain does not properly solve the problem of secure global payments. It's a stopgap, and incentivises people to design a better solution.