Cryptography Pioneer Adi Shamir: World 'Would Be Better' Without Cryptocurrencies
Cryptocurrencies have not fulfilled their promises, according to cryptography pioneer Adi Shamir at the RSA Conference. Shamir believes the world would be better off without cryptocurrencies, criticizing their centralization within a few large exchanges and their primary use for speculation rather than payments. He also stated that cryptocurrencies have facilitated malware and financial crimes. Ed Felten, a panelist and Professor Emeritus at Princeton, acknowledged the issues but highlighted the potential value of cryptocurrencies, comparing them to the early internet. Shamir conceded that blockchain technology might have significant applications. Shamir co-invented the RSA encryption algorithm, which is foundational for secure digital communication and has influenced cryptocurrency security.
