Remember Steve Bannon? Well, he’s back, and he’s teaming up with a few Harvard academics to create the “Deplorable Coin,” a reference to Hilary Clinton’s comment on the alt-right movement. Now, why is Bannon a strong supporter of the crypto-space? I think the answer is pretty obvious: says, Bannon, “It’s disruptive populism…It takes control back from central authorities. It’s revolutionary.”

Why is this important? It reminds us of the brutal schism between the technology (blockchain) and its philosophical underpinnings (a genuine free market alternative). It also shows us the possibility of the latter transforming from a mere point of origin into a parasitic force contaminating the technological infrastructure currently utilized to pump out “bad” (i.e. fiat) money.

 


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