Bitcoin Is Global Money For An Interconnected World
Globalization has occurred to people, products and corporations — but what about our money?Globalization + What Is Money = BitcoinWhat is money? It's one of the more popular questions of the last few years. Especially in 2020 and 2021, when the grand, new U.S. administration decided to act as if a drunken sailor had taken over the keys to the printing press. “You get money, you get money, and you get …” CTRL+P … CTRL+P … CTRL+P … So — what is money? It’s a question I asked early in my journey that started in the depths of the Great Financial Crisis (GFC). I asked this question for years....
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The Internet of Things (IoT) and many technological innovations are driving a vast economic transformation. Billions upon billions of smart devices are being interconnected through the Internet. Many of these devices communicate with each other, seamlessly, across country boundaries. They are also capable of performing all sorts of tasks, including....
Ethereum is a worldwide network of interconnected computers (nodes) that enforce, execute and validate programs in a decentralized manner without requiring a server, memory, CPU power, or any other computing function, as it is all provided by thousands of ethereum nodes scattered across the world. In short, ethereum is a global computer. This global computer allows applications, called Decentralized Apps or DApps, through the use of smart contracts – simple javascript like code – to run exactly as they have been programmed, requiring no permission, having no intermediary, in a largely....
Systemic risk in the financial world has increased in recent years due to the interconnected nature of global financial markets. Could the blockchain make a difference in reducing risk associated with failure of global players? Lehman Brothers and Systemic Risk. The collapse of Lehman Brothers in 2008 shook global financial markets. It reduced investor confidence in banks and contributed to recessions across the world. Interbank lending froze as banks did not have the confidence to place even overnight deposits in their fellow banks. When the fortunes of firms can change in a matter of....
Bitcoin private keys often find themselves residing in devices populating the Internet of Things. The number of these devices continues to grow exponentially. Today, billions of devices are seamlessly interconnected in the Internet of Things cloud, collecting and sharing data all over the world. They are also performing a variety of tasks, including....
You can hate globalization or love it. But you cannot deny that, today, we are living in the most interconnected global society the world has ever known. For the first time in human history, almost everyone in the world has reasonable access to near-instant communication with the rest of the planet. Pondering the consequences of this situation fascinates me. It is hard for many people to imagine a borderless, united world, but I cannot help but come to this conclusion when looking at current trends. While some people may consider it unlikely based on our species' historical penchant for....