The use of cryptocurrencies is rapidly increasing across the world. In 2020, scholars at the University of Cambridge estimated there were 101 million people using cryptocurrencies worldwide, an increase from 35 million just two years previously. The rise of cryptocurrency is usually a story of pizzas bought with bitcoins now worth over a billion dollars, kingpins of darknet drugs markets ordering assassinations and hospitals being held to ransom by anonymous hackers. These new levels of activity however are pushing cryptocurrency, and its underlying blockchain technology into the mainstream – with significant consequences.
The first and arguably biggest impact so far is cultural.Continue reading