Intelligence Squared The Sunday Debate: Blockchain, Quantum Leap Forward or Digital Snake Oil?
Apr 10, 2022
Springing into action, Primavera De Filippi, a legal expert on blockchain at Harvard, teams up with Vit Jedlička, President of Liberland, to envision a decentralized governance model. Jamie Bartlett dives into the social implications of blockchain, while skeptic David Gerard questions its financial promises. They explore the environmental costs of cryptocurrency, the challenges of regulation, and the potential for blockchain to revolutionize voting systems, all while debating whether it’s a groundbreaking innovation or merely tech hype.
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Blockchain's Potential
- Blockchain ranges from a prosaic record-keeping system to a revolutionary technology.
- It's distinct from Bitcoin, although Bitcoin uses blockchain.
Decentralization's Impact
- Blockchain eliminates third parties like central banks and insurance companies.
- Decentralized insurance, based on reputation, will be cheaper and more efficient.
Blockchain's Dual Nature
- Blockchain offers decentralization, disintermediation, transparency, and accountability.
- It also carries the risk of being misused to sell unrealistic solutions, creating "digital snake oil."
