«ICOs are Cancer»

While all people are able to “debug” personal and institutional relationships, the overwhelming majority does not (yet) understand code at all.

I am becoming more and more skeptical about cryptocurrencies and blockchain technology. They do address common problems. But they substitute institutional and personal trust with code. While all people are able to «debug» personal and institutional relationships, the overwhelming majority does not (yet) understand code at all. And they do not need it.

Michael Flaxman on Medium:

«Using a blockchain without a need for censorship resistance is like using a rube goldberg machine to turn the page on your newspaper»

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