Bitcoin and Blockchain

Thursday, June 28th, 2018

Facing competition from blockchain-based tokens, SWIFT has made significant upgrades we all benefit from.

Friday, June 22nd, 2018

Instead of addressing misconceptions and increasing public understanding of cryptocurrencies, the Netflix-Vox documentary repeats scare-mongering that has been the staple of shallow tech journalism.

Wednesday, June 20th, 2018

It’s hard to say with a straight face that Bitcoin is “the stable cryptocurrency,” but compared to its cousins, its wild price swings are a little less wild.

Tuesday, June 19th, 2018

The Howey Test is legacy content from our civilization past, same as Morse Code, the horse-drawn plow, and the presidential fireside chat. We’ve moved on. At least we are trying to.

Friday, June 8th, 2018

The beauty of the art example of distributed ownership is that it gets the creative juices flowing. How many other applications of blockchain are out there waiting? Blockchain is like oil, like the Internet, like fire; that is, not a single instance with one use case but a resource with potentially limitless uses. doing countless other things. It is technology for building things and for making human relationships more peaceful and more prosperous.

Friday, June 8th, 2018

Telling an entrepreneur with a great idea in a blossoming industry to sit on their hands for a couple of years is a tough sell, but there are of reasons why sitting down and taking a deep breath today might lead to greater success down the road.

Wednesday, June 6th, 2018

Bitcoin and fiat money are not cousins. They are on entirely different branches of the family tree.

Tuesday, June 5th, 2018

Get ready, crypto community, because the czars are coming for you! On Monday, June 4, the Securities and Exchange Commission appointed Valerie Szczepanik to a new position: “associate director of the Division of Corporation Finance and senior advisor for digital assets and innovation,” known informally as the “crypto czar.”

Friday, June 1st, 2018

Blockchain enthusiasts often focus on the potential for smart contracts to replace biased and fallible humans with cut-and-dry computer code. But this emphasis on code over humans can confuse both the definition and true potential of smart contacts.

Monday, May 28th, 2018

This week, it was my pleasure to sit on a panel with Gavin Brennen of Macquarie University in Sydney, Australia, a physicist and one of the world experts on this topic. He presented a very nice paper that examined this question in some detail. He began with his frustration over the headlines that swept the tech world last October and November. They were as alarmist as they were misleading. He set the record straight.

Monday, May 28th, 2018

Bitcoin is cheap and easy to use. But it has a long way to go before becoming widely accepted.

Monday, May 21st, 2018

Blockchain technology could be as big as they say. The particular assets and governance models behind them are subject to the market test, both in terms of the price and their ultimate viability.

Wednesday, May 16th, 2018

Can stablecoins compete with existing government currencies?

Tuesday, May 15th, 2018

The fact that about half of altcoins failed or came close to doing so over five years is a promising sign for that market, rather than an indictment of anything not named Bitcoin.

Wednesday, May 9th, 2018

We love to prognosticate, but it’s impossible to do so without severely glossing over the complexities of the real world. That leads us to false dichotomies, like “Blockchain technology will change everything” versus “Blockchain is all hype.”

Sunday, May 6th, 2018

It is the great presumption of public policy that some people with power, resources, and status can know what is true, and therefore what must be better. This is in contrast to the lowly actors in the marketplace who must deal daily with the problem of not knowing. To navigate life, to find profitable investment opportunities, to discover what it is that society needs now and what can wait, is the great challenge of material life. But the state takes a different route. It declares what is true, attempts to freeze the process of life, and then impose it as a matter of law.

Friday, April 20th, 2018

Dividing the world into “centralized” and “decentralized” obscures important features of the bitcoin protocol. A more sophisticated lexicon would leave scope for “distributed” processes.

Thursday, April 19th, 2018

Venezuela recently launched its own cryptocurrency. If recent history is any indicator, investors should steer clear.

Tuesday, April 17th, 2018

The fact that Anderson’s theory of money seems to fail the Bitcoin test forces us to question our long tradition of issuing new coins that contain precious metals, or banknotes redeemable for some other, already valuable instrument.

Monday, April 16th, 2018

Many people who are bullish on blockchain make grandiose claims that the technology will completely overhaul industries and institutions. But these claims often ignore the complexity of the real world and misunderstand what revolutionary technologies actually do.