Tim Wu reflects on the rise of Bitcoin and wonders about the wider implications for society. He suggests that it may herald a move away from trust in sovereign entities to a trust in code:
Yet as Bitcoin continues to grow, there’s reason to think something deeper and more important is going on. Bitcoin’s rise may reflect, for better or worse, a monumental transfer of social trust: away from human institutions backed by government and to systems reliant on well-tested computer code. It is a trend that transcends finance: In our fear of human error, we are putting an increasingly deep faith in technology. (Source)
The concern that this raises is that it implies that 'code' is somehow pure and unbiased. Audrey Watters' work around the Blockchain paints a different picture, while Cathy O'Neil's book Weapons of Mass Destruction highlights many concerns too.