William Magnuson on Blockchain Democracy

William Magnuson discusses his latest book, Blockchain Democracy: Technology, Law and the Rule of the Crowd   On this episode of Technology & Prose, William Magnuson, Associate Professor of Law at Texas A&M, joins host Nikita Aggarwal to discuss Satoshi Nakomoto and the genesis of bitcoin (1:40), the history of the internet, the Cypherpunk movement and early cryptocurrencies (4:00), the 2008 financial crisis and the socio-political drivers of bitcoin (9:57), bitcoin and blockchain as technologies of democracy, the role of miners and cryptocurrency exchanges (12:44), Mt. Gox and crime on the blockchain (17:04), Silk Road and the regulation of bitcoin and blockchain (24:40), international bitcoin regulation (28:58), law enforcement on the blockchain, ‘anonymity’ of bitcoin, design changes to reduce criminal activity (30:24), blockchain beyond bitcoin and cryptocurrencies, permissioned/private blockchains (33:15), the environmental costs of bitcoin and blockchain (36:05), proof of stake vs proof of work, increasing energy efficiency of the blockchain (38:51), how (not) to buy bitcoin! (40:49).   References The Bitcoin White Paper    Recorded on February 26 2021.