Cryptocurrency Might be a Path to Authoritarianism

Extreme libertarians built blockchain to decentralize government and corporate power. It could consolidate their control instead.

 

All over town, the parking meters are disappearing. Drivers now pay at a central machine, or with an app. It’s so convenient I sometimes forget to pay entirely—and then suffer the much higher price of a parking ticket. The last time that happened, I wondered: Why can’t my car pay for its own parking automatically? It’s technically possible. Both my car and my smartphone know my location via GPS. My phone already couples to my car via Bluetooth. An app could prompt me to pay for parking upon arrival.

 

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