How Can Cryptocurrency and Blockchain Technology Play a Role in Building Social and Solidarity Finance?
The decentralized digital currency Bitcoinâand its underlying âblockchainâ technologyâhas created much excitement in the technology community, but its potential for building truly empowering social and solidarity-based finance has yet to be tested. This paper provides a primer on the basics of Bitcoin and discusses the existent narratives about the technologyâs potential to facilitate remittances, financial inclusion, cooperative structures and even micro-insurance systems. It also flags up potential points of concern and conflict; such as the tech-from-above âsolutionismâ and conservative libertarian political dynamics of some of the technology start-up community that surrounds Bitcoin. As a way of contrast the paper considers âblockchain 2.0â technologies with more overtly communitarian ideals and their potential for creating âcooperation at scaleâ. It concludes with suggestions for future research.