The Implications of Bitcoin: Money Without Government
One of my favorite things about bitcoin is how it's such an all-inclusive tent. Bitcoin attracts political idealists from the right, political idealists from the left, Silicon Valley technologists, social science academics, philosophers, capitalists, socialists, and even apolitical speculators. Alex Payne kicked off this latest round of analysis with his blog piece: "Bitcoin, Magical Thinking, and Political Ideology". A self-described programmer and secular humanist, Payne worked as an early engineer at Twitter building the service's developer platform and backend infrastructure. Mostly,....
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The creator of the Nakamoto Terminal will help government and business understand the interaction of traditional and digital financial systems and track money into and out of blockchains. Digital asset data analytics company Inca Digital will study the implications of digital assets for national security under a year-long contract with the Defense Advanced Research Projects Agency (DARPA), the company announced Sept. 23. DARPA is the R&D branch of the United States Department of Defense. Inca Digital will work on a project called "Mapping the Impact of Digital Financial Assets" that will....
Congratulations, virtual currency world-New York wants to expressly regulate you! That's how important Bitcoin and other digital currencies have become in recent years. And as we know, what happens in New York's financial world often has implications for the wider world. All the recent attention New York has paid to virtual currency is raising many important legal questions, with potentially profound implications. This article will offer a brief survey of just some of them. A Cryptic History of Money. Bitcoin is the latest and best known in a long line of digital currencies. The basic....
Kenneth Rogoff, the Thomas D. Cabot Professor of Public Policy and Professor of Economics at Harvard University and former Chief Economist at the IMF, recently posed the question about the future of paper money. I reported the academic paper myself last month and the arguments he put forward for Cryptocoinsnews. At that time, I agreed with Rogoff on the technological obsolescence of paper money however I now wish to look at some of the reasons, that society must consider, for holding onto paper money. I have an acquaintance that works as a handyman, he has two prices that he charges per....
The growing disruptive implications of Blockchain in a range of settings including the financial and health sectors is key to IBM’s decision to open an innovation center in Singapore. According to the Vice President, Global Labs at IBM Research, Robert Morris, this first collaboration between IBM and the private sector and multiple government agencies within the same country to explore the use of Blockchain and cognitive technologies will aim at improving business transactions across several different industries. He said: “Now with new cloud services that make these technologies more....
Let’s finish the 4th chapter once and for all, book lovers. As promised, we’re going to take government money to court and analyze its track record. How do you think it did? We’ll also analyze the hyperinflation phenomenon, which as it turns out, “is a form of economic disaster unique to government money.” How does […]