> The future I fear is one with a new anarcho-libertarian power structure that lacks transparency, accountability, and is the antithesis of democracy.
That's the money quote (around which most of the article revolves), and my response to it is simple:
I love watching privileged people squirm.
Anarchism (and more broadly libertarianism) is the realization of transparency, accountability, and democracy to their greatest extremes - even (hell, especially) when those extremes conflict with the capitalist status quo. The author, being "one of the top investors in Israel", has a vested interest in convincing the rest of us otherwise, such that we continue to buy into the legacy financial system that's actively failing (if not outright exploiting) people even in developed economies, let alone developing ones. He half-heartedly tries to address this in the postscript...
> I know crypto has been helpful for remittances, refugees, dissidents and even non-profits, but that has very little to do with the trillion-dollar crypto economy that has emerged.
...but he's flat wrong here, too. Cryptocurrency's usefulness for remittances, refugees, dissidents, and non-profits is exactly why that trillion dollar industry emerged in the first place, and the fact that it's leaving rich and powerful people like him shaking in their boots is the best advertising said industry could ever hope to get.
That's the money quote (around which most of the article revolves), and my response to it is simple:
I love watching privileged people squirm.
Anarchism (and more broadly libertarianism) is the realization of transparency, accountability, and democracy to their greatest extremes - even (hell, especially) when those extremes conflict with the capitalist status quo. The author, being "one of the top investors in Israel", has a vested interest in convincing the rest of us otherwise, such that we continue to buy into the legacy financial system that's actively failing (if not outright exploiting) people even in developed economies, let alone developing ones. He half-heartedly tries to address this in the postscript...
> I know crypto has been helpful for remittances, refugees, dissidents and even non-profits, but that has very little to do with the trillion-dollar crypto economy that has emerged.
...but he's flat wrong here, too. Cryptocurrency's usefulness for remittances, refugees, dissidents, and non-profits is exactly why that trillion dollar industry emerged in the first place, and the fact that it's leaving rich and powerful people like him shaking in their boots is the best advertising said industry could ever hope to get.