Cryptopia is an excellent documentary for newcomers to cryptocurrency

‘Cryptopia: Bitcoin, Blockchains and the Future of the Internet’, is a documentary on, you guessed it, cryptocurrencies. Made by Australian filmmaker Torsten Hoffman, it is a follow-up to his award-winning 2015 documentary ‘Bitcoin: The End of Money As We Know It’.

Hoffman’s experience in making the first movie is what shines through in this one, as there are various nuances and explanations that are made in this documentary that make it easy for people who have no idea about cryptocurrencies to follow as well. It is thus an excellent film for newbies to this space to watch and learn more about cryptocurrencies. Documentaries such as this one, which can educate the wider public, are extremely important, especially in the case of cryptocurrencies. With more and more merchants and online stores accepting cryptocurrencies as a form of payment, it is important that people know about this type of currency and how it works. Many new crypto casinos have begun accepting deposits in the form of cryptocurrency and announce interesting crypto casino promotions, which has proven to be a very popular feature. There are many other ways in which cryptocurrencies have become relevant, from being a potential investment for those looking for high returns, to the underlying technology, blockchain, and its various applications.

The movie itself is split into three parts. The first part looks at Bitcoin itself, with an introduction to the fundamentals of how the currency works. It is effectively a summary and recap of Hoffman’s first movie, highlighting the issues with traditional currency which Bitcoin and other cryptocurrencies are attempting to solve. Hoffman interviews a series of people in this section, who are some of the most influential people in the cryptocurrency space, such as Wences Casares, Laura Shin and Andreas Antonopoulos. They explain why governments and big banks are being so resistant to the idea of cryptocurrencies, since that would take the control of money supply away from them. Other influencers in this area, such as Samson Mow, Roger Ver, and Charlie Lee, who founded Litecoin, also feature through interviews in this section, as the evolution of Bitcoin since its launch is discussed.

The second act moves on to blockchain, the technology that underpins cryptocurrencies. The movie explains the concept of smart contracts, as well as the Ethereum network, with the likes of Tone Vays, Vitalik Buterin and Vinny Lingham featuring in this segment with their opinion on blockchain. Hoffman then takes a look at the recent explosion in initial coin offerings or ICOs, which is the way in which new virtual currencies are offered to the public. This has brought digital currencies created for various purposes into existence, but has also brought a wave of scams and fraud as well. At the same time, big businesses are trying to harness the benefits of blockchain through the use of private centralized networks. ICOs have also led to the creation of completely new forms of digital assets as well.

The last part of this documentary looks at the future of the internet. Hoffman looks at the evolution of other industries over time, such as automobiles, to compare it with where blockchain is today. The rise of censorship online, and the potential to overcome this using blockchain, is an important topic that is discussed. The possibility of decentralized finance and the changes this could bring about is also discussed, while the end of the movie focuses on the disappearance of Satoshi and its impact on Bitcoin.

This is an extremely well-researched movie, and it assumes that the viewer knows nothing about the topic, making it easy to follow for those who have no knowledge about bitcoin and cryptocurrencies. It is thus a must-watch for those new to this space, as Hoffman does a great job in the interviews as well, getting his subjects to ease up and speak their mind, while also not being afraid to poke fun and challenge them when needed. 

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