The Internet and Blockchains potential?

Submitted by Spikymike on December 16, 2017

So aside from valid criticism of overblown claims being made on behalf of alternative currencies and the supposed hidden revolutionary potential of 'information technology' (as with Paul Mason for instance) what do anarchists and others make of this particular aspect of computer systems usage and it's potential for the future?
See here: www.worldsocialism.org/spgb/socialist-standard/2010s/2017/no-1360-december-2017/pathfinders-rattle-blockchains
Not at my best understanding all this.

gram negative

6 years 11 months ago

In reply to by libcom.org

Submitted by gram negative on December 17, 2017

the basic idea behind the technology is interesting, but it leads to an arms race of processing power, which leads to increasing energy usage. coin mining is taking increasingly large amount of electricity to power, with estimates in the terawatt range for bitcoin