Cryptocurrencies and Inequality
Notes on the 21st Century (CBRI), 2019
9 Pages Posted: 30 Jan 2019
Date Written: January 23, 2019
This discussion paper considers the nature of inequality as it is perpetuated in the cryptocurrency universe, specifically in terms of the concentration of Bitcoin wealth in but a handful of owners/wallets/addresses. It ties this into the competing narrative of cryptoanarchism wherein cryptocurrencies are a means of democratization of wealth through a wider distribution of autonomous participants. The paper suggests that the cryptoanarchist narrative clashes with the reality of a massive concentration of cryptocurrency wealth that reproduces the levels of inequality found in traditional forms of capital.
Keywords: Bitcoin, Cryptocurrency, Inequality, Wealth, Cryptoanarchism
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