The Bitcoin/blockchain story: a mixture of greed and idealism

This morning’s Observer column:

Because I write about technology I am regularly assailed by people who are exercised about so-called “cryptocurrencies” like bitcoin, which most of them regard as a scam. But when I reply that while bitcoin might be newsworthy, the really important story concerns the blockchain technology that underpins it, their eyes glaze over and they start looking for the nearest exit as they conclude that they are in the grip of Coleridge’s Ancient Mariner.

And, in a sense, they are. Blockchain technology is indeed important, but it seems largely incomprehensible to ordinary mortals, even though the web teems with attempts to explain it…

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