Vlad Zamfir on the Dangers of Unstoppable Software and What People Get Wrong About Blockchains

Tracy Alloway and Joe Weisenthal, Bloomberg News

Cryptocurrency mining rigs operate in a cargo container at the Golden Fleece cryptocurrency mining company in Kutaisi, Georgia, on Monday, Jan. 22, 2018. Golden Fleece uses a cargo container with Chinese-built computers inside a dilapidated Soviet-era tractor factory to extract cryptocurrencies using low-cost electricity generated by water flowing from the nearby Caucasus Mountains. Photographer: Daro Sulakauri/Bloomberg , Tracy Alloway and Joe Weisenthal

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Vlad Zamfir is something of a crypto legend. The researcher was early into Bitcoin, and he was part of the Ethereum Foundation before it launched. He's still an active researcher in the space, but he believes the people operating in it get some basic premises wrong. One of the basic premises that people preach is the idea of database immutability. He argues that, in order for crypto to become more influential, it needs to take governance seriously and find ways to be in compliance with generally accepted ideas about the law.