Too Big to Fail? Not in the Blockchain World
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....
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Bitcoin never asked for permission to exist, and some experts still feel the concept should not be allowed to exist in the first place. Andreas Antonopoulos recently held a presentation about the relationship between Bitcoin and blockchain. To some people, it is possible to separate the two entirely, but in reality, things are different. In fact, industry experts seem to think Bitcoin will fail, whereas the blockchain will succeed. It is not fundamentally correct to think either Bitcoin and blockchain will completely succeed, or utterly fail. At its core, both Bitcoin and the blockchain....
In an earlier article, I conceded too much and suggested that Bitcoin doesn’t need to be a unit of account. What I should have said is that Bitcoin is a great unit of account—much better than the dollar. The objection that Bitcoin is not a good unit of account actually hides a circular argument that invalidates it. Bitcoin’s utility as a unit of account depends on what you already believe about Bitcoin. If you are skeptical of Bitcoin, then it makes no sense to use Bitcoin as a unit of account. If you believe that Bitcoin will become the world currency, then it makes no sense to use....
The applications of blockchain technology are virtually unlimited and it can't be realized until people see the bigger picture. Is there anything that blockchain technology can’t do? The question is hard to answer as long as we don’t change the way we perceive the distributed ledger technology. The blockchain technology is still in its nascent stages, but we fail to look at it with a fresh pair of eyes, says George Benner — Head of Digital Strategy at Droga5 Advertising Network. In an article on one of the websites, George points out that by the overt commercialization of Blockchain....
Prominent research organizations such as the World Economic Forum (WEF) have made ambitious predictions over the past year and outsold Blockchain technology to the general public. The WEC previously stated that 10 percent of the world’s GDP will be overseen by Blockchain technology which is currently being tested by leading banks and financial institutions worldwide. That is trillions of dollars managed by Blockchain technology. Overhyped. However, many argue that the Blockchain industry is exceedingly overhyped. So-called experts or analysts within the field of Blockchain fail to....
A recent study suggests that 99% of people from Mexico and Brazil and 96% of Americans fail to grasp the basic concepts of cryptocurrencies. Out of all the survey respondents aware of bitcoin, 17% in the U.S., 15% in Brazil, and 14% in Mexico own the crypto asset. The report published by cryptoliteracy.org further explains that 9 out of 10 survey respondents did not know that Bitcoin’s supply is capped off at 21 million.
Despite the Bull Run in 2021, Study Shows Crypto Knowledge Is Lacking in the US, Mexico, Brazil
According to a study published by cryptoliteracy.org....