Comedian John Oliver on the Sunday night’s episode of the show “Last Week Tonight” focused on discussing technologies. He said that technology is the thing that would make television so high def that he would no longer be allowed to appear on it.
Basically, the comedian had the motive to have a discussion about cryptocurrencies which are the virtual currencies that combine everything one does not understand about money along with everything one does not understand about computers.
Cryptocurrencies have lately been grabbing headlines because of the amazingly dramatic hike in the worth of Bitcoin. While it has depreciated in value currently, cryptocurrency is generating a “cult-like devotion” amidst the enthusiasts who regard the bank-free medium of exchange as the solution to financial freedom. John Oliver seemed to believe cryptocurrency as related to gathering Beanie Babies of which they are worthy if the mass agrees that they have value.
Another term that hits the mind when thinking of cryptocurrency is blockchain. The Blockchain is a technology that permits for the decentralized banking records that keep a record of all the transactions made by Bitcoin thereby making them impossible to hack.
The comedian said that this can possibly improve efficiency, security, and trust for banks and large corporations. The blockchain technology is so much buzz that the organizations which add it to their name witness their values to triple. This led John Oliver to think of the changing the name of the show to “Last Bit Tonight with Block Chainiver” in the hope that doing so would triple the ratings of the show.
Oliver is becoming more and more skeptical with the increasing popularity of cryptocurrencies. He indicated at a cryptocurrency based on a meme featuring a skeptical Shiba Inu, called Dogecoin considering the fact that people purchase coins for no other reason than that other people are purchasing them.
As a part of another case-study, Oliver indicated to Eos, a blockchain platform that has made a billion dollars even though it has not yet proven to be of any use. Oliver does not think that Eos would become the next Google but as a massive amount of money fly around, he thinks to warn armchair speculators and investors to be careful. He conscripted the American actor Keegan-Michael Key to give a crypto-culture inspired rap performance advising people to be careful.