From Blockchain

IMF: Lucre’s Allure

[Bitcoin] marks a transformational shift in the perception of fundamental value. The metallic currencies of the premodern world encouraged the formulation of a labor theory of value: value was produced when humans added their labor to nature. Blockchain technology means that value reflects a combination of stored energy and intelligence, none of it human. It may point to a new age when most and eventually all value may be created by the nonhuman interaction of machines and energy. It is not surprising that the fear of instability—and the association of new money with diabolical qualities—has reappeared. (Harold James, IMF, June 2018)