There's a strong argument that Proof of Stake token networks have a colonialist taint.
Negative-sum speculative assets based on no economic activity are a net wealth redistribution back to early stakeholders. Which are moneyed Westerners with capital and influence to buy early.
Negative-sum speculative assets based on no economic activity are a net wealth redistribution back to early stakeholders. Which are moneyed Westerners with capital and influence to buy early.
Every early investor that makes a return on the sale of negative-sum "investment" token is necessarily paid out by a pyramid of hundreds of small losers.
If these products are marketed in developing economies as "solutions" to the unbanked, that's very ethically problematic.
If these products are marketed in developing economies as "solutions" to the unbanked, that's very ethically problematic.
Primarily because the premise of these get-rich-quick investments is based on confusion and that's exploited in marketing.
They aren't stores of values, they aren't currencies, they're simply greater-fool gambling products.
They aren't stores of values, they aren't currencies, they're simply greater-fool gambling products.
Blockchain-based technologies are primarily tools for wealthy connected and tech-savvy elite to grow their wealth by the promotion of predatory high-risk investments that extract money from unsophisticated investors. Or vehicles for money laundering and tax evasion by the rich.
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