Bitcoin and Beyond : A Multidisciplinary Prespective into Blockchain and Bitcoin

Unlike many technical books about Blockchain and Bitcoin, Bitcoin and Beyond edited by Malcom Campbell-Verduyn offer a fresh perspective from scholars across many fields. This book even includes sociology and anthropology scholars examining the implication of Bitcoin and Blockchain for modern governance. This book has several authors, with Malcolm Campbell-Verduyn as the editor. Interestingly, Verduyn background is a philosophy of arts, unlike many known authors in the Blockchain with an engineering or STEM background.

This book is divided into nine chapters, starting with the first chapter discussing the relevancy of Blockchain to contemporary governance. For those who might not be familiar with Blockchain and bitcoin, this book also explores the fundamental concept while examining several other topics, such as the idea of a cashless society. The following chapters until the 8th chapter explores problems and challenges that Blockchain and cryptocurrencies have. Finally, the conclusion asserts the book's aim, which attempts as an "initial" the beginning of a discussion about the broader social scientific analysis of Blockchain.

One of the most intriguing chapters from this book is chapter 5, titled between liberalization and prohibition. It attempts to answer two questions; 1) What are the challenges Bitcoin has brought to states?2) how have states responded to these challenges. It uses a study case of powerhouses, which are the USA, Russia, and China. In this chapter, the author argued that China's balanced policy on Blockchain made the country the largest Bitcoin market globally.

What is the political spectrum of Bitcoin?

Satoshi Nakamoto never writes nor imply that Bitcoin belongs to the left or right nor the center. He wrote the white paper in a very technical manner. But over time, Bitcoin becomes a political statement. Chapter 5 also discusses the origin of the ideology behind Bitcoin, which is called " The Cypherpunk Movement. It is a movement that originated from the political struggle against the US government that tried to suppress the development of cryptography in the 1990s," quoted in Verdun 144.

" Cypherpunk sought to build an anonymous society using cryptography as a means of achieving greater privacy and security in the face of massive surveillance."

One can argue that perhaps due to its nature of being a rebel against the states, it caused some concerns. Further, this book explores the problems, including the familiar "illegal use" and "volatility" case. After examining the problem, the author lays out three governance models.

1. Liberalized governance of technology in the United States
2. The prohibitory approach in Russia
3. A balanced middle ground to the governance of technology: prudent enthusiasm of China

For those who are keen to understand more about these approaches, this book has successfully attempted to give a reasonable explanation for that matter. Chapter five is only one among eight other chapters with more intriguing topics and problems regarding Bitcoin.

Bitcoin and Beyond shall be a supplemental read for policymakers to understand the implication of the technology. It explores beyond the economic hype that is associated with it. The book also decently explores the non-technical side of Bitcoin and the Blockchain. Indeed, unlike many books circulating out there, reading this book can seem to equal reading a piece of work from JSTOR or a similar scholarly website. But don't let it discourage you from picking this book.

Even a casual reader and supporters of Bitcoin or Blockchain can pick this book for a recreational read. This book will deepen your understanding as you participate in the network and the culture of Bitcoin.

Reference

Campbell-Verduyn, Malcolm. Bitcoin and beyond: Cryptocurrencies, Blockchains, and Global Governance. Routledge, 2019.