Cryptocurrencies and Inequality

Notes on the 21st Century (CBRI), 2019

9 Pages Posted: 30 Jan 2019

See all articles by Usman W. Chohan

Usman W. Chohan

UNSW Business School; Critical Blockchain Research Initiative (CBRI); Centre for Aerospace & Security Studies (CASS)

Date Written: January 23, 2019

Abstract

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

Suggested Citation

Chohan, Usman W., Cryptocurrencies and Inequality (January 23, 2019). Notes on the 21st Century (CBRI), 2019. Available at SSRN: https://ssrn.com/abstract=3322329 or http://dx.doi.org/10.2139/ssrn.3322329

Usman W. Chohan (Contact Author)

UNSW Business School ( email )

UNSW Business School
High St
Sydney, NSW 2052
Australia

Critical Blockchain Research Initiative (CBRI) ( email )

Centre for Aerospace & Security Studies (CASS) ( email )

Rawalpindi
Pakistan

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