Blockchain image courtesy of David Stankiewicz under Creative Commons Attribution-Share Alike 4.0 International license.
Blockchain image courtesy of David Stankiewicz under Creative Commons Attribution-Share Alike 4.0 International license.
Bitcoin, the original cryptocurrency, was designed to serve as a medium of exchange that could be used for financial transactions without relying on central bank money or a trusted intermediary, such as a commercial bank or credit card company (Nakamoto 2008). Equally alluring from a libertarian perspective, bitcoin promised to enable transactions using only transacting parties’ digital rather than real identities. That is, it enabled pseudonymous transactions. Its creation in 2009, amidst the global financial crisis when trust in governments and traditional financial institutions was at its nadir, perfectly fit the zeitgeist of the time.
How does bitcoin work?
As the Russian invasion of Ukraine shows, nuclear threats are real, present, and dangerous
The Bulletin elevates expert voices above the noise. But as an independent, nonprofit media organization, our operations depend on the support of readers like you. Help us continue to deliver quality journalism that holds leaders accountable. Your support of our work at any level is important. In return, we promise our coverage will be understandable, influential, vigilant, solution-oriented, and fair-minded. Together we can make a difference.
Get alerts about this thread
0 Comments
Eswar Prasad
Eswar Prasad is the Nandlal P. Tolani Senior Professor of Trade Policy and Professor of Economics in the Dyson School at Cornell University, a senior... Read More
ALSO IN THIS ISSUE
