Recently, Catherine Austin Fitz had a discussion with John Titus about a post in “Wall Street On Parade” entitled: “Letter in Support of Responsible Fintech Policy“.
The letter is from a hodge podge of professionals (over 1500 to be exact ) speaking out about the inefficiency of crypto and blockchain.
In our opinion, Fitz and Titus get it wrong and go to places that promote fear and loathing instead of informed criticism. Why do we need to use the word evil with such abandon?
The letter talks about how blockchain and crypto are not good technologies and should not be implemented for a number of reasons, including feasibility, lack of trust and inoperability.
It’s not because the people running crypto and blockchain are “evil” – it’s because the technology itself is cumbersome to the user and has too many holes, holes which would be costly to patch.
In this hour and a quarter audio, Julie and JP talk about the problems with blockchain and crypto but more importantly the problems with the DISCUSSIONS AROUND BLOCKCHAIN AND CRYPTO. We complain about how when we talk about the inoperability of blockchain and crypto because of technical and trust issues, we get pushback from people who want to focus on how these technologies are being forced on the us by evil, psychopathic technocrats.
It’s clear to us that blockchain isn’t really going to go anywhere because investment is going into other components and parts of Fintech https://en.wikipedia.org/wiki/Financial_technology. As for crypto, we don’t feel it’s really a good place to put your money because of the reasons stated in the ‘Letter‘ and the reasons laid out in Julie’s article “Give Designers a Chance“.
Criticism cited in the audio and in previous posts and previous audios is that a morbid curiosity over non existent threats has been encouraged to fester. Being scared of something that doesn’t exist, like feasible blockchain technology for instance, seems to be a trending consciousness that will only result in alienating the very people you want to inform or result in marginalizing individuals from each other even more.
Listen to our audio discussion here:
Letter in Support of Responsible Fintech Policy
Give Designers a Chance https://medium.com/@julieward70/give-designers-a-chance-9128da44a32a
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