• tags :: technology in capitalismtechnologytechnocracy

In recent years it's been fashionable to speak of technical solutions for social problems. Wealthy CEOs and technocrats have proposted technical solutions to social problems. Cryptocurrencyis often cited as one such example:

Social problem: conventional currency, cash, etc. is susceptible to fraud, has no inherent value, can be controlled by a central bank (libertarianargument). Technical solution: Currency should be a digital ledger that makes committing fraud difficult, not centrally controlled.

Of course, cryptocurrency is just as much susceptible to fraud and centralization as regular currency.

The only solution to social problems are social / political solutions, technology is only auxiliary to that.