Disintermediation

There are quite a lot of people who aren’t going to like this:

It was winter of 2014 when [Joseph Lubin] beckoned me to a Bitcoin conference in Miami to tell me about a new project, named Ethereum, that he and a group of like-minded Canadians had begun working on just a few months earlier. When I caught up with him, he didn’t hold back on the scope of his vision: “We will replace insurance companies. We will replace Wall Street,” he told me. […] Then the list kept growing. Online movie distribution houses like Netflix and Hulu. Gaming platforms like Xbox and Sega Genesis. Messaging services like Twitter. Add to that retirement plans, currency exchanges, voting, intellectual-property managers, and trust-fund disbursers. According to Lubin, everything — really everything — we do on the Internet or via any kind of digital channel is about to undergo a radical change.

(Among the very best Bitcoin articles written to date.)

3 thoughts on “Disintermediation

  1. Yea, if the Cathedral and its minions don’t overtake it and coopt it through some global legislation or some other monopolizing function, which they will if they feel threatened by their monopoly of the currency systems.

    I like what one of the commenters summed up: “Decentralized peer-to-peer worldwide distributed open source cryptographically secured math based trustless blockchain technology is the way to empower the people and bypass banks and all centralized financial institutions, the path to reset the control from the few to the many, is the future for everything. The potential implications of the development of distributed consensus technologies is revolutionary. It is very safe, since is cryptographically secured by a distributed global mathematical algorithm and public decentralized open source ledger.”‘

    Seems the next generation of which Ethereum seems one of the candidates is the start of something big. Maybe the anarchic impulse of the impersonal will have its way after all. We can only hope, and download and code our own way into freedom… :()

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