Is the Concept of Blockchain Technology and Cryptocurrencies Ethical in a Society?

Ethics describes the moral principles that direct an individual’s behavior or how they perform an activity. It draws the line between what is morally good or bad and what is morally right or wrong. Therefore, it would be best to peruse the different cryptocurrency scenarios to determine whether cryptocurrencies and blockchain technology are ethical to society. The increase of 38.38% in cryptocurrency hacks from 2019 to 2020 is an excellent example of its unethical nature. In 2020 alone, there were…