Under the Microscope: The True Costs of Banking
Hass McCook is a chartered engineer and freshly minted Oxford MBA. He has been researching bitcoin over the past several months and recently joined the Lifeboat Foundation's New Money Systems advisory board. This is the fourth in his five-part series that compares the relative sustainability of the bitcoin network with gold production, the production of physical currency, and the legacy banking system. It is very hard to quantify the global impact of the banking and finance system, however, there are some key figures that we can draw on for an order-of-magnitude estimate. The World Bank....
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Hass McCook is a chartered engineer and freshly minted Oxford MBA. He has been researching bitcoin over the past several months and recently joined the Lifeboat Foundation's New Money Systems advisory board. This, the final instalment in his five-part series, evaluates the relative sustainability of the bitcoin network against the costs of gold production, the printing and minting of physical currency and the legacy banking system. Under the Microscope has aimed to cast a critical eye over the social, environmental and economic impacts of the way we currently transact and transfer wealth,....
Hass McCook is a chartered engineer and freshly minted Oxford MBA. He has been researching bitcoin over the past several months and recently joined the Lifeboat Foundation's New Money Systems advisory board. This article is the second in a series on bitcoin's sustainability. Having previously examined the cost of bitcoin mining, here McCook seeks to quantify the economic and environmental factors involved in mining gold. Gold has been used for millennia as a means to project and protect wealth. As the data below indicates, 52% of all gold ever mined is used for jewellery and palatial....
Hass McCook is a chartered engineer and freshly minted Oxford MBA. He has been researching bitcoin over the past several months and recently joined the Lifeboat Foundation's New Money Systems advisory board. Here, in the first in a series of articles on bitcoin's sustainability, he seeks to analyse the economic and environmental factors involved in the process of bitcoin mining. There has been a lot of uncertainty surrounding the sustainability of the bitcoin network, with this fascinating nascent technology facing several unsubstantiated claims that it is highly unsustainable from a....
The banking sector is enthusiastic to implement blockchain technology in order to automate most of the processes, This may lead to future job cuts in the sector. The banks were never charmed about Bitcoin for multiple reasons. For starters, when the digital currency was first introduced following the collapse of the US banking system, it was hailed as the killer of the traditional banking sector. As time passed, the digital currency gained enough traction to actually threaten the traditional banking industry with its easy and fast transactions at literally no transaction costs. The fierce....
In 2017 a blockchain-based crypto-lottery Flip’s Star (now True Group iGaming company) conducted its fundraising campaign featuring the TFL token as the native governance token of the project. TFL token is now a part of the True Group company, together with True Partners (casino operator), True Lab (game provider) and True Label (casino developing platform). […]