Saturday, February 3, 2018

James Corbett: Are We Looking at a Crypto Based Totalitarian Regime?

First, James Corbett demystifies the confusion between Bitcoin and blockchain. 

These terms are not interchangeable, and much of the confusion has led to a irrational hype. However, Corbett sees the blockchain in combination with a cryptocurrency could change the financial system as we know it. 

It could almost completely disintermediate the financial system, making everyone their own banker. But a cryptocurrency can also be controlled. 

If central banks issued cryptocurrencies, the currency could become a tool of totalitarianism. Corbett says we cannot let this happen.