Bitcoin has failed to live up to the hype that it would democratize finance by enabling cheap, instantaneous, and secure payments that could be conducted without having to rely on stodgy old financial institutions like banks and credit card companies. And the Bitcoin network’s spiraling energy needs are truly staggering when compared to other potential uses.
CGD Policy Blogs
Relying on biased information undermines the effectiveness of evidence-based policymaking. A potential source of bias in many datasets is that most of the world’s data scientists—i.e., the people who collect, organize, analyze data, and make decisions—are men.
Global debates about data governance standards have primarily reflected the priorities and needs of rich countries, with less wealthy countries left in the role of “standards takers.” More needs to be done to ensure that digital governance policies pursued by the world’s largest economies do not create unintended consequences that make it harder for other countries to support a strong domestic digital economy and participate in the global digital economy.