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When I first met Yanis Varoufakis in the summer of 2014, he was a highly respected but relatively obscure economist. Back then, the price of one bitcoin fluctuated around $440.

Fast-forward three years and his career has followed a similar trajectory to bitcoin’s valuation. Both have experienced a meteoric rise in popularity, characterised by high-drama and volatility.

Varoufakis would be thrust into the limelight as Greece’s finance minister; battling the austerity programme put forward by the Troika and today pursues the lofty ambition of trying to reform Europe. Reaching similar heights, just two weeks ago the price of one bitcoin broke $20,000 for the first time.

Varoufakis may have been one of the very first senior political leaders to explore the use of blockchain-based payments for a national economy. At the height of Greece’s financial crisis, he developed a plan for creating a peer-to-peer parallel payments system, based on the blockchain. Read more from wired.co.uk…

thumbnail courtesy of wired.co.uk