The claim being made [by blockchain advocates] is not that we can engineer greater levels of cooperation or trust in friends, institutions, or governments, but that we might dispense with social institutions altogether in favor of an elegant technical solution.
This assumption is naïve, it’s true, but it also betrays a worrying politics—or rather a drive to replace politics (as debate and dispute and things that produce connection and difference) with economics. This is not just a problem with blockchain evangelism—it’s a core problem with the ideology of digital activism generally. The blockchain has more in common with the neoliberal governmentality that produces platform capitalists like Amazon and Uber and state-market coalitions than any radical alternative.
Rachel O’Dwyer on the stoic conservatism of blockchain.