The Blockchain

FutureProofing

FutureProofing is a series in which presenters Timandra Harkness and Leo Johnson examine the implications - social and cultural, economic and political - of the big ideas that are set to transform the way our society functions.

Episode 3: The Blockchain

Can computer technology and its systems for record-keeping, transparency and verification replace the role of trust in our society? The digital currency Bitcoin can be used to make peer to peer financial transactions without a central banking authority. The technology underlying this system is called the blockchain, and is enthusiastically advocated by libertarians. In this programme Timandra and Leo investigate whether its ramifications could go much further than currency and reach into disrupting the roles of government, from providing identity documents to tax collection. Or will governments, banks and other large powerful bodies meet the political and technical challenges of the blockchain by incorporating it into their own activities?

Producer: Jonathan Brunert.