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Originally Posted by Ab
But here's something I really worry about: in the hypothetical future worlds in which cryptocurrency really takes off, the early adopters (which is still anyone up to and including now) will have huge leverage. The people who have the time and play money and philosophical interest and technical capacity to BE early adopters are overwhelming already-affluent white dudes. There is going to be a HUGE inequality gulf between the early adopters and everyone else, and call me a godless communist but huge inequality gulfs tend not to work out that well for society.
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I wonder.
I see what you're saying. We have the current set of "early adopters", largely just people buying in. Leveraging the platforms beyond currency handling is nearly non-existent. However this white, male, monied crowd in the best position to buy in are going to be stymied by traditional systems they're already bought into.
On the flip-side the bulk of people do not enjoy the benefits of robust, transparent, corruption free financial and legal systems. They will have strong incentive to develop and use these new systems. And there is so much untapped potential to be unleashed. I'm anticipating developing nations leap frogging past Western institutions.