I've been spending a lot of time thinking deeply about what it truly means to work in crypto. Crypto is the embodiment of the cypherpunk manifesto — to work here is our attempt to truly be free. In this post, I describe what it means to be a cypherpunk and how it really translates into the work this industry does.
Self-Sovereignty: This is perhaps the most fundamental right for cypherpunks — we want to own our data, our assets, and our digital identity. Recent events starkly illustrate how centralized control can undermine this. From the catastrophic hack of Mt. Gox in 2014, which obliterated the digital assets of thousands, to the Hong Kong government freezing the assets of pro-democracy activists, the risks are clear and present. Even social media platforms like X, Instagram, and Facebook routinely seize control over user accounts without transparent recourse, sparking debates over digital identity and expression. These examples underscore a pivotal conflict: as we pivot towards decentralised technologies that promise greater individual autonomy, the clash with old systems of control intensifies, echoing historical shifts where new technologies disrupt established power structures, redefining sovereignty in the digital age.
Immutability: Immutability ensures that records and transactions, once created, cannot be altered. Immutability is critical for financial integrity, as shown by the LIBOR scandal where banks manipulated interest rates affecting global markets. If these submissions had been immutable—unalterable once entered—such deceit would have been prevented, ensuring transparency and fairness essential for financial stability.
Decentralisation: Decentralisation spreads power and control, eliminating central points of failure to boost system resilience. A striking example of the risks of centralisation is the Equifax data breach in 2017, where sensitive information of approximately 147 million people was exposed due to vulnerabilities in a centralised database.
Censorship-Resistance: Censorship-resistance is crucial for open communication, particularly under restrictive conditions. During the Hong Kong protests, activists used minted NFTs encoding protest-related artwork and messages. This approach ensured that their digital expressions remained unalterable and accessible worldwide, demonstrating how decentralised technologies can safeguard freedom of expression against censorship.
Code is Law: "Code is law" encapsulates the idea that digital systems are governed by immutable algorithms, replacing traditional legal oversight. For instance, in smart contracts, terms are encoded directly into software. These contracts execute automatically and impartially when conditions are met, ensuring strict adherence to the code without human intervention or reinterpretation. This not only enhances transparency but also ensures consistent application of rules across the platform.
End-to-End Encryption: End-to-end encryption embodies the principle that privacy is a fundamental right for cypherpunks. This technology ensures that data transmitted over the internet is only accessible to the communicating users.
Open Access: Open access promotes unrestricted availability of information, a cause championed by Aaron Swartz. As a cypherpunk, Swartz fervently advocated for public access to knowledge, notably attempting to liberate academic articles from JSTOR. His actions reflect the cypherpunk commitment to free information exchange and continue to inspire movements for open access across the digital world.
Trustlessness: Trustlessness eradicates the need for third-party intermediaries. This principle is rooted in cryptographic verifications rather than institutional trust, fortifying the autonomy of each interaction. Systems that embrace trustlessness allow entities to interact directly, secured by code.
Transparency/Open Source: Transparency and open-source principles make code and processes publicly visible and auditable. This openness allows anyone to review, modify, and improve the technology, enhancing security and trust.
Anonymity: Anonymity allows individuals to interact digitally without revealing their identity. This principle protects privacy and enables freedom of expression, particularly in environments where personal information might be exploited. Tools like Tor and privacy-focused cryptocurrencies like Monero exemplify this, offering users the ability to communicate and transact without exposing who they are.
Tamperproofing: Tamperproofing ensures that data and systems resist unauthorised modifications. By securing information against alteration, it protects the integrity and reliability of digital records. Blockchains are a prime example, where each transaction is cryptographically linked to the next, making it virtually impossible to alter past data without detection.
Interoperability: Interoperability allows diverse digital systems and networks to interact seamlessly. It ensures that different technologies can communicate and work together, enabling a more connected and efficient digital environment. For example, protocols like Polkadot and Cosmos enable blockchains to interact, bridging isolated systems into a cohesive whole.
As the digital landscape evolves, we stand on the cusp of a new era, where the principles of the cypherpunk manifesto are not just ideals but are becoming integral to our daily lives. To work in crypto is to engage in this profound shift, to challenge and redefine what it means to be truly free in a world increasingly shaped by technology.
Each principle we uphold—whether self-sovereignty, immutability, or censorship-resistance—serves as a defense against the encroachments of centralized power. We are witnessing the emergence of a new phase in history, where power is redistributed, and individuals gain unprecedented autonomy. Just as the Information Revolution redefined society, the work in crypto is poised to reshape the future, creating systems where trust is embedded, privacy is protected, and control is decentralized.
As we approach this transformation, it is clear that the stakes are high. The choices we make today in building these systems will have long-lasting impacts, determining the future where individuals reclaim their sovereignty. In this rapidly changing landscape, the work we do is not just about advancing technology; it’s about ensuring that, as the old structures give way, a new form of freedom emerges—one that is more resilient, more secure, and more just than ever before.
