Cryptocurrency needs to die in a fire

Stefan Mileschin · 24th May 2022, 07:40

A senior staff researcher at the International Computer Science Institute and lecturer in the computer science department at UC Berkeley has slammed cryptocurrency is useless and destructive, and should "die in a fire."

Nicholas Weaver has been telling anyone who will listen about his Iron Law of Blockchain which he modestly names after himself. The law is: "When somebody says you can solve X with blockchain, they don't understand X, and you can ignore them."

He said that those pushing cryptocurrency for "Banking the unbanked” should have a look at M-Pesa, a payment system Vodafone started in Kenya in 2007 "about the same time as Bitcoin."

It has eaten the Third World. It's huge. Because it just basically attaches a balance to your phone account. And you can text to somebody else to transfer money that way.

https://fudzilla.com/news/54889-cryp...-die-in-a-fire

24th May 2022, 07:40	#1
Stefan Mileschin [M] Reviewer Join Date: May 2010 Location: Romania Posts: 153,541	Cryptocurrency needs to die in a fire A senior staff researcher at the International Computer Science Institute and lecturer in the computer science department at UC Berkeley has slammed cryptocurrency is useless and destructive, and should "die in a fire." Nicholas Weaver has been telling anyone who will listen about his Iron Law of Blockchain which he modestly names after himself. The law is: "When somebody says you can solve X with blockchain, they don't understand X, and you can ignore them." He said that those pushing cryptocurrency for "Banking the unbanked” should have a look at M-Pesa, a payment system Vodafone started in Kenya in 2007 "about the same time as Bitcoin." It has eaten the Third World. It's huge. Because it just basically attaches a balance to your phone account. And you can text to somebody else to transfer money that way. https://fudzilla.com/news/54889-cryp...-die-in-a-fire

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