By the end of 2017 almost everybody has heard of Bitcoin. Therefore, the topic of this essay is highly relevant and aims to give an insight on Bitcoin and Blockchain technology, as well as analyze the rise of Bitcoin from a socio-economic viewpoint. By applying the ‘personal enterprise concept’ based on the neo-liberal definition from Dardot and Laval (2013), this essay will look at the correlation between the increase of neoliberalism and the rise of Bitcoin. By highlighting the sociological and financial circumstance that Bitcoin has emerged from, the rise of Bitcoin can be explained.
This essay will show how decentralization, the financial crisis of 2008, globalization, digitization and the neo-liberal mindset are the main factors that paved the way for Bitcoin and contributed to its development. The essay will also look at the societal changes that occurred due to digitization to demonstrate why Bitcoin and Altcoins are increasingly popular in today’s network societies.
Inhaltsverzeichnis (Table of Contents)
- Introduction
- Neoliberalism and Decentralization
- Personal Enterprise Concept and Network Societies
- Globalization as an Accelerator of Neo-Liberal Movements
- Changes in the Financial World
- Bitcoin, Blockchain and the Crypto Market
- What is Bitcoin?
- Blockchain Technology
- Global Acceptance and Price Development
- The Use of Bitcoins and Blockchains
- The Rise of Bitcoin in Recent Years as a Consequence of Neo-Liberal Societies
- Bitcoin as a Product of Neoliberalism
- Decentralization and Anti-Government Trust
- Conclusion
Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)
This essay aims to provide an in-depth analysis of Bitcoin and Blockchain technology, examining its rise from a socio-economic perspective. By applying the 'personal enterprise concept' within a neoliberal framework, the essay investigates the correlation between the increase of neoliberalism and the emergence of Bitcoin. The analysis will highlight the sociological and financial circumstances that led to Bitcoin's development, demonstrating how decentralization, the 2008 financial crisis, globalization, digitization, and a neo-liberal mindset have played crucial roles. The essay will further explore the impact of digitization on societal changes and explain why Bitcoin and Altcoins are gaining popularity in today's network societies.
- The relationship between neoliberalism and the rise of Bitcoin
- The role of decentralization and anti-government trust in Bitcoin's popularity
- The influence of globalization and digitization on the emergence of Bitcoin
- The impact of network societies on the adoption of Bitcoin and other cryptocurrencies
- The significance of the 2008 financial crisis in the context of Bitcoin's development
Zusammenfassung der Kapitel (Chapter Summaries)
The introductory chapter presents the essay's objectives and sets the context for the exploration of Bitcoin and Blockchain technology within a neoliberal framework. It highlights the essay's focus on examining the correlation between the rise of neoliberalism and the emergence of Bitcoin.
Chapter 2 delves into the concept of neoliberalism and its relationship to decentralization. It explores the 'personal enterprise concept' as defined by Dardot and Laval (2013) and analyzes the impact of neoliberalism on governance, society, and individual psychology. This chapter also examines the role of globalization and technological advancements as catalysts for neo-liberal movements. It further discusses the transformation of the financial world through liberalization and innovation, highlighting the shift towards a more decentralized and interconnected global market.
Chapter 3 provides a comprehensive overview of Bitcoin, Blockchain technology, and the crypto market. It defines Bitcoin, explores the underlying principles of Blockchain technology, and examines the global acceptance and price development of Bitcoin. This chapter concludes with a discussion on the various uses and applications of Bitcoin and Blockchains in diverse sectors.
Chapter 4 investigates the rise of Bitcoin in recent years as a consequence of neo-liberal societies. It examines Bitcoin as a product of neoliberal principles, highlighting its decentralized nature and the growing distrust in institutional governments. This chapter further explores how Bitcoin's popularity can be attributed to the increasing emphasis on individual responsibility and self-governance, which are characteristic features of neoliberal ideology.
Schlüsselwörter (Keywords)
The primary keywords and focus topics of this essay include neoliberalism, decentralization, Bitcoin, Blockchain technology, network societies, globalization, digitization, financial crisis, personal enterprise concept, and self-governance. The essay explores the interconnectedness of these concepts and their influence on the emergence and popularity of Bitcoin in contemporary society.
- Quote paper
- Michelle Trauth (Author), 2018, Neoliberalism and the Rise of Bitcoin, Munich, GRIN Verlag, https://www.hausarbeiten.de/document/441772
