Blockchain solutions have been proposed to restrict the power of these big middlemen. But Dr Bodo warns that these could struggle to translate the complexity of the old system into the inflexible logic of computer programming, without introducing new power injustices.‘The question is not blockchain per se – blockchain is a wonderful technology,’ he continued. But, he says, there is an open question about what happens when blockchain challenges the power of the law and the power of existing institutions.
Source: Blockchain could democratise banking, music – but at what cost? | Horizon: the EU Research & Innovation magazine | European Commission