Re:The Rise of Workplace Surveillance
by dredmorbius on Monday November 06, 2017 @11:20AM
(#15636483)
David Gerard, author of Attack of the 50 Foot Blockchain, has made just that point. I can't quote it enough (three times so far at my Reddit blog):
Decentralisation is the paramount feature in bitcoin, but it turns out that that's a bad idea that's really, really expensive, because it turns out that a tiny bit of trust saves you a fortune.
"Decentralised" isn't a useful buzzword in a lot of ways, because it turns out that you want to be a part of society.
From his interview with the Financial Times:
The beauty of Bitcoin is an inherently-trustworthy transaction structure without the need for a central authority or trust between parties. The cost is exactly what you describe - trust is replaced by a massive expenditure of work to independently verify everything. It's an interesting microcosm of what's happening throughout society in general.