Blockchain security and government motives

Frederic asks whether the assumption behind blockchain, that people cooperate because fraud would be too costly, is correct.

The Wonders answer no: blockchain is one of the most targeted areas for hackers, who have already hacked a number of exchanges and continue to do so, and they say it is not an area for anyone to invest in.

They add that the movement is not driven by individuality, despite the attention given to Bitcoin's creator, but is being fuelled and supported in a grey way by governments around the world seeking to avoid relying on the gold standard as a means of creating wealth.

It remains an experiment, watched closely and not yet as supportive as governments would like; if stability can be assured, governments will jump on board quickly, since they would prefer the illusion of standards to real gold-standard values.

On the technology, they say the computing power already exists and is efficient, but if governments become involved it will run on their highest supercomputers, creating a standard governments can control while individuals remain exposed to criminality, which is why artificial intelligence is attractive to governments.

They note criminals are typically ten steps ahead, that hackers improve every time protections are built, and that technology will never overcome the creativity of individuals.