The first block of Bitcoin has a message embedded, “The Times 03/Jan/2009 Chancellor on brink of second bailout for bank.” This is a newspaper headline referring to the British government bailout of banks after the 2008 Global financial crisis.
An old yoga maxim states that “We become that which we hate.” It seems that, in a reaction to hypervalued financial assets, Bitcoin incarnated some of the flaws it was trying to correct.
Blockchain technology holds a lot of promise in promoting trust, transparency and accountability while reducing transaction fees.