Blockchain isn't about democracy and decentralisation – it's about greed | Nouriel Roubini

Cryptocurrencies such as bitcoin result in the concentration of wealth, not greater equalityWith the value of bitcoin having fallen by about 70% since its peak late last year, the mother of all bubbles has now gone bust. More generally, cryptocurrencies have entered a not-so-cryptic apocalypse. The value of leading coins such as Ether, EOS, Litecoin and XRP have all fallen by over 80%, thousands of other digital currencies have plummeted by 90%-99%, and the rest have been exposed as outright fra