In a recent interview with tech expert and entrepreneur Brian Roemmele, renowned Canadian psychologist and political commentator Jordan Peterson expressed his belief that Bitcoin is the sole “viable” monetary alternative in a future world dominated by central bank digital currency (CBDC). Peterson’s insights shed light on the potential of Bitcoin to shield society from the potential excesses of centralized control. This article explores Peterson’s perspective on Bitcoin and its role as an alternative to CBDCs.
Bitcoin’s Decentralization and Resilience
Peterson emphasizes that Bitcoin’s decentralized nature sets it apart from a potential centralized bank digital currency. He contends that the latter will likely be imposed upon society at any given point, making Bitcoin the only alternative that can offer individuals true financial autonomy. As a decentralized cryptocurrency, Bitcoin operates outside the purview of any single entity or governing body, which prevents it from being controlled by a bureaucracy. Peterson’s assertion underscores the significance of Bitcoin’s resilience in the face of potential tyrannical excesses.
Roemmele adds to the discussion by highlighting Bitcoin’s potential beyond monetary transactions. He suggests that blockchain, particularly Bitcoin’s blockchain, can be integrated into a popular payment system due to its inherent design. Roemmele posits that Bitcoin can serve as a means of communication, allowing for the decentralization and preservation of information. The encrypted nature of the blockchain ensures that data can be memorialized and stored indefinitely, further strengthening the case for Bitcoin as an alternative to CBDCs.
Bitcoin as a Tool for Permanent Information Storage
Peterson offers an intriguing idea for utilizing Bitcoin’s properties as a form of “permanent, incorruptible information storage.” He suggests developing a “blockchain corpus of general knowledge questions” to conduct IQ tests while preventing manipulation and bias. By leveraging Bitcoin’s decentralized structure, Peterson envisions a robust and tamper-proof system that could derive random samples of general ability tests, free from any gerrymandering. This concept showcases Bitcoin’s potential beyond financial transactions, highlighting its versatility and applicability in various domains.
Peterson has previously praised Bitcoin as a powerful tool against tyrannical control imposed by CBDCs. He views it as a safeguard against potential abuses of centralized authority. Furthermore, Peterson has recognized Bitcoin’s potential as an inflation hedge. In November 2021, he acquired Bitcoin as a shield against inflation. Although the asset’s performance has been volatile since then, Peterson’s endorsement underscores his belief in Bitcoin’s ability to protect wealth from the erosion caused by fiat currencies.