At the RSA Conference in San Francisco, cryptography pioneer Adi Shamir expressed his disapproval of cryptocurrencies, stating that the world would have benefited from their absence. While acknowledging the visionary ideals of Bitcoin's original whitepaper, he criticized the current state of cryptocurrencies, claiming they have become centralized within a few dominant exchanges. Shamir noted that these currencies are primarily used for speculation rather than payments and highlighted their role in enabling malware, suggesting they have facilitated significant financial harm. He pointed out that without cryptocurrencies, extracting vast sums from companies would have been more challenging. Responding to Shamir, Ed Felten from Princeton University maintained a more tempered perspective, suggesting that, despite some negative aspects, blockchain technology still holds promise for innovative applications. Shamir agreed that blockchain might have valuable uses outside of cryptocurrencies, indicating a potential for future development in the space.

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