Wendy McElroy: The Narrative and Philosophy of Cryptocurrency

“The central banks of Britain, Japan, the euro zone, Sweden and Switzerland have grouped up to assess potential use cases for digital currencies. Talk of such currencies gained momentum after Facebook announced plans last year to introduce a cryptocurrency called libra,” – CNBC. In the light of such developments, it is evident that those who view crypto as an engine of freedom are losing control of the narrative.

Also read: Why User Experience Is Crypto’s True ‘Killer App’

The Narrative That Powers Peer-to-Peer Digital Currency

“The narrative” is an important concept because those who command the narrative are most likely to determine the outcome. Once closely associated with political correctness, the term has gone mainstream in recent years. The narrative is the story of something—an issue, an idea—but it is more than merely relating the facts of a matter. In postmodern philosophy, from which political correctness draws heavily,…