Cryptocurrency Quotes

They kept saying cows watched sunsets. At that point I wished I’d used the fucking conspiracy theorists instead of the cows. Nobody would’ve cared if I’d turned people inside-out who think vaccines have nanites in them that mine cryptocurrency. But cows watch sunsets, man!

Investing has the best results when you learn from nature.

So, you are telling me that 918 million in cryptocurrency was transferred from these two Android phones to somewhere in Brazil. Can you find out where in Brazil and to whom it was sent?

The best way to protect an asset is with systems that self organize and self execute behaviors which function as protective to the asset.

Our Investments should be consistent with our values.

Everything to do with cryptocurrencies and blockchains is the domain of fast-talking conmen. If anyone tries to sell you on either, kick them in the nuts and run.

Quite a memory, Mr. Ludefance. I’m impressed. Did you at any time during this encounter think about the fact that the now dead person was there to steal the iPhones with the four billion in cryptocurrency?” “It occurred to me.” “And you still took aim and shot him?” “Detective, there was a gun pointed at me. Yes, I shot first. And I’d do the same thing again.

At Mayflower-Plymouth, we are trying to mimic the intelligence of fungi and mycelium to add value in service to businesses.

We all have a responsibility to be efficient stewards of resources.

Investing has the best results when you learn from nature. Planet Earth has been alive for much longer than you or I and and it this thing figured out.

Ethereum, or some other Cryptocurrency is going to be the global standard of payment. It’ll be of greater value than national fiat.

The eleven iPhones are set up identical to the Androids. But it’s a whole different scenario as far as the Bitcoin wallets. They all have currency in them, and none has been sent out. I labeled each one with the amount in each of the wallets. It comes to a total of more than four billion.” “Four billion? Are you sure it’s not million?” “I’m sure, Boss. Four billion in available cryptocurrency.

If your adding value and helping other people in some way, then money should be flowing into your life with ease.

Bitcoin. The cryptocurrency now produces as much CO2 each year as a million transatlantic flights.

The divine line "Bitcoin/Cryptocurrency is for criminals" is a cunning defensive strategy created by so called traditional financial services sector.

Cryptocurrency and Blockchain technology offer a lot of potential with investing.

A dysfunctional society is bad for business. If the society you live in is wasteful or destructive or non-inclusive or inefficient.... It's more difficult to manage a business, and there are less business opportunities available. So every entrepreneur should be concerned about social dynamics and broader society.

Tokens and cryptocurrencies can be used to help coordinate human behavior at scale.

The key to having a permaculture economy is ensuring that the waste from every one is a resource for another. When every ones waste is a resource for another, interesting truths emerge - no waste exists in the system as a whole, resources become abundant and easily accessible, businesses become generally more profitable, and wealth becomes more widely distributed. This is a circular economy. This is a permaculture economy.

When a business utilizes resources wisely, it becomes better able to widen the margins between revenues and expenses.

The Bahamas is becoming a leading nation when it comes to Blockchain Technology and Cryptocurrency.

NFT’s are transforming the way commerce is transacted, contracts are enforced, investments are held, and value is transferred.

Wealth is not a stagnant dry thing. Wealth is money alive. Wealth is money vibrant. Wealth is money in motion. Wealth is money continuously growing into greater and greater abundance, producing more and more of itself. Wealth is about money flowing with ease and grace and definiteness.

In trading Bitcoin and other commodities, everyone wants 1000% in a week, but can't handle 20% drop in a week. That's the beginning of witchcraft.

The Bahamas is becoming a leading nation in regards to Blockchain Technology and Cryptocurrency. I think The Bahamas will supercede the United States in these categories soon. And if Bahamians approach this right, we can pivot from the entrapment of tourism to the leverage of influencing global interactions with cryptocurrency, new forms of capital, and vital technologies.

Every problem that we have in society has a suite of relative solutions that are also business opportunities. Agricultural waste is a problem. But solving that problem is a business opportunity. Energy inefficiency is a problem. But solving that problem is a business opportunity. The abusive treatment of animals is a problem. But solving that problem is a business opportunity. Reduced biodiversity is a problem. But solving that problem is a business opportunity. Plastic waste in the ocean is a problem. But solving that problem is a business opportunity. And the list goes on indefinitely. We just have to think creatively and fluidly and we can solve all of these problems that plague Earth and we can grow businesses and earn money and provide for our families in the process.

To put Göbekli Tepe in context, its megaliths predate Stonehenge by at least six thousand years. They predate the first literate civilizations of Egypt, Sumer, India, and Crete by even more. Unearthing this kind of Stone Age sophistication so deep in our past is like finding out your great-grandparents have been secretly coding apps and trading cryptocurrency behind everyone’s back.

Money is better when you have more of it. With money, enough is not enough. You should always have more than enough money - an abundance of money. Look at nature, nature never only makes enough of a good thing. It always makes more than enough. And there’s no scarcity or lack. Everything in nature experiences more than enough.

Investing at large scales is where the greatest impact happens. When we’re investing with billions of dollars or trillions of dollars, it’s easier to effect whole systems and implement society-scale results more rapidly and with more efficiency. When you have big objectives, you need big money. We have big objectives at Mayflower-Plymouth and we have a lot of good things to do in the world that’s going to help a lot of people, so we need to be working with big numbers.

It's not about Bitcoin or Ethereum or NFT's... These things have merely shown us what's possible. But the real value is in Cryptography, Blockchain Technology, Cryptocurrency and Smart Contracts - these are the things with the real business implications.

An intelligent investor sees an opportunity in dip than risk.

The darknet marketplace will continue to grow and with it will grow the demand for anonymous cryptocurrencies.

Learning how cryptocurrency works is like learning a new language. It is incredibly difficult at the beginning, but once it clicks it will stick with you forever.

Most people think the big money in crypto is in day trading, but the holy grail in cryptocurrency industry right now is spotting the gems before the public knows about it. Understanding pre-sale, public sale and pre-exchange purchase arrangements is so vital for massive profits.

This isn’t about nation-states anymore. This isn’t about who adopts bitcoin first or who adopts cryptocurrencies first, because the internet is adopting cryptocurrencies, and the internet is the world’s largest economy. It is the first transnational economy, and it needs a transnational currency.

When new things emerge in our world, its best to put some time into researching them and trying to gain an understanding. With that understanding, you're then able to think about and plan for the new business applications for those things and the new ways in which your business may profit from them.

The decentralized nature of cryptocurrencies means they are often not subject to the same regulatory oversight as traditional financial systems. This can lead to fraud, scams, and market manipulation.

By investing in anonymous cryptocurrencies, you are buying 'insurance' against a recession, as the value of the cryptocurrency could increase significantly if the economy falters and the black market grows.

As cryptocurrency becomes more widespread, we'll have a world where money is easy to access, easy to move, easy to send, easy to receive, and easy to invest.... And we'll be able to do all of this globally. This means for example I can send Eth to my friend in India or my business partner in Panama with ease instantly.

Being a skilled professional at something does not automatically equate to being skilled at leading a business in that same profession. Someone could be a phenomenal hair stylist, but that doesn’t mean that they would be a great manager of a Salon. Business management requires its own skill set separate from being skilled at whatever service or product the business provides.

Modern technologies are 99 percent bravery , and 1 percent investment

Understanding block-chain makes you go mad, unless you start your own cult

I like the concept of 'not spending more money to spend money'. Let's scale it.

Centralized blockchain can be a great boon to the society, especially in the developing parts of the world, whereas decentralized blockchain will only cause chaos and destruction.

The purpose of a centralized financial system or any other system, is not to exploit people, but to ensure stability in the society.

Meanwhile, peer-to-peer blockchain networks and cryptocurrencies such as Bitcoin might completely revamp the monetary system, making radical tax reforms inevitable. For example, it might become impossible or irrelevant to calculate and tax incomes in dollars, because most transactions will not involve a clear-cut exchange of national currency, or any currency at all. Governments might therefore need to invent entirely new taxes—perhaps a tax on information (which will be both the most important asset in the economy and the only thing exchanged in numerous transactions). Will the political system manage to deal with the crisis before it runs out of money?

If a social ecosystem is created to legitimize the existence a cryptocurrency token, both will fail. The use case for tokens is to serve naturally occurring social ecosystems — that means people have already assembled in that way prior to the introduction of the token.

As a business owner you should never mix business income with personal income and never mix business expenses with personal expenses. Your business is a separate entity with a life of its own. Your job is to lead and manage that separate entity, not to entangle with it. Entangling with your business will result in chaos. But keeping business and personal separate will facilitate efficiency and reduce stress.

Don’t you think it’s weird how in an age of cryptocurrency and telework, childbirth—something experienced by pretty much half the world’s population—is still so hard and so painful? Breastfeeding, giving the baby all you’ve got, never getting a half hour to just sleep . . .

Incorporating cryptocurrency in the traditional centralized financial system not only speeds up transactions exponentially, but also it makes the system more user-friendly, whereas in a decentralized system cryptocurrency will only breed insecurity and chaos, due to the utter absence of liability.

The proper use case of tokens is to more precisely control behaviors within naturally occurring social ecosystems. Any attempt to transcend beyond the small naturally occurring ecosystem is naive at best and dishonest at most.

Blockchain itself is not dangerous, but if we start using decentralized blockchain as a complete substitute for our traditional transaction methods, then I am afraid, it would destroy the very human foundation of our financial system.

The best way to think about blockchain technology, then, is not as a replacement of trust—as a “trustless” solution, as some cryptocurrency fanatics damagingly describe it—but as a tool upon which society can create the common stories it needs to sow even greater trust, to build social capital, and to forge a better world.

You might think of Bitcoin and blockchain as two halves of a whole, but in reality, they are very distinct commodities.

cashless society: (n.) dystopian civilization where you can be sure the real terrorists have won.

Bitcoin experts argue that deflation is not bad per se. Rather, deflation is associated with a collapse in demand because that is the only example of deflation we have to study.

Bitcoin is the most stellar and most useful system of mutual trust ever devised.

Innovation is the outcome of a habit, not a random act.

Plan your next move because every step contributes towards your goal.

The same people who thought Bitcoin at $100 was expensive, now think it is fairly valued at $30,000.

DeFi boom is a very near equivalent of an apocalyptic event for the traditional financial institutions.

As the Berkeley researcher Nick Weaver had warned, and as cryptocurrency users around the world were finally learning, “The blockchain is forever.

gold is valuable as a currency or investment because we believe it is valuable (which is the same reason for valuing money itself). Gold’s value as currency is an abstract social construct.

The Decentralization of Finance is really good for humanity and it’s ultimately a win for each and every one of us. Because now that we can circumvent banks, exchanges and brokerage companies by using smart contracts on the blockchain… every person, every family, and every business will experience more more liberty, more freedom, more opportunities, more abundance, more power, and more wealth.

Bitcoin isn’t a digital currency. It’s a cryptocurrency. It’s a network-centric money. I really like the idea of a network-centric money. A network that allows you to replace trust in institutions, trust in hierarchies, with trust on the network. ​The network acting as a massively diffuse arbiter of truth, resolving any disagreements about transactions and security in a way where no one has control. ​ ​

Sadly for Bitcoin, most Austrian economists aren’t fans – even as Bitcoiners remain huge fans of Austrian economics.27 You will find Austrian jargon in common use in the cryptocurrency world. Proponents of Austrian economics include the fringe economics blog Zero Hedge, which has confidently predicted two hundred of the last two recessions. Zero Hedge covers Bitcoin extensively, and Bitcoiners are fans in turn.

If The Dollar represents financialization, and The Dollar is dying, and we are moving towards currencies being backed by commodities, then The Future is REAL. BearPaw Duck And Meme Farm Coin is backed by duck eggs.

The Decentralization of Finance is really good for humanity. Now that we circumvent can banks, exchanges and brokerages by using smart contracts on the blockchain… every person, every family, and every business will experience more freedom, more liberty, more opportunities, more power, more abundance, and more wealth. So DeFi is a win for humanity.

There is an intrinsic risk in bitcoins: their physical inconsistency. Discussions about physical cryptocurrency issuing have been going on since 2010, but when we refer to bitcoins, we usually have lines of codes in mind instead of banknotes.

A network state is a social network with a moral innovation, a sense of national consciousness, a recognized founder, a capacity for collective action, an in-person level of civility, an integrated cryptocurrency, a consensual government limited by a social smart contract, an archipelago of crowdfunded physical territories, a virtual capital, and an on-chain census that proves a large enough population, income, and real-estate footprint to attain a measure of diplomatic recognition

To pin the future of blockchain on any one currency, let alone the initial one, means limiting blockchain potential; a potential that once scaled promises to have an unequaled impact on our day-to-day lives. And that really is the stuff of stars.

At their core, cryptocurrencies are built around the principle of a universal, inviolable ledger, one that is made fully public and is constantly being verified by these high-powered computers, each essentially acting independently of the others.

The HSI agent wasn’t caught in the Welcome to Video dragnet because IRS agents had violated his privacy. He was caught, the judges concluded, because he had mistakenly believed his Bitcoin transactions to have ever been private in the first place.

As we discuss later, social media is American glasnost and cryptocurrency is American perestroika. So as the internet scaled, and Americans actually got the rights to free speech and free markets that they were nominally promised, the establishment started to feel threatened. Why? Because while speech only influences volitional behavior (like voting), volitional behavior in turn influences coercive behavior (like legislating). So, if the US establishment lost control over speech they would have lost control over everything.

We have an opportunity to reform the financial system, to turn it into the public utility that it’s supposed to be—a level playing field that everyone can indiscriminately use in their bid to get ahead. Let that be the standard for the coming age of cryptocurrency.

Bitcoin is often mistakenly characterized as “anonymous” currency. In fact, it is relatively easy to connect identities to bitcoin addresses and, using big-data analytics, connect addresses to each other to form a comprehensive picture of someone’s bitcoin spending habits.

Cryptocurrency is here to stay, so we hear on cryptosphere everyday. But there are some fundamental situations that needs to take place for this speculated ‘store of value’ to really have its foot to stand on, and that is, government’s ability to enforce taxation on businesses and individuals making gains with this currency. So, either we like it or not, crypto taxation needs to be enforced for government to really entertain any form of adoption. Asian countries dominates the cryptocurrency spaces but the governments are finding it a bit hard to really tax crypto transactions.

Cryptocurrency should never and will never replace government issued fiat currently. The value of Cryptocurrency is limited to very specific use-cases and small social ecosystems with specific common objectives. That’s not a bad thing. It’s good when things are applied strictly to their proper use cases.

So: in the 1800s you wouldn’t steal because God would smite you, in the 1900s you didn’t steal because the State would punish you, but in the 2000s you can’t steal because the Network won’t let you.40 Either the social network will mob you, or the cryptocurrency network won’t let you steal because you lack the private key, or (eventually) the networked AI will detect you, or all of the above. Put another way, what’s the most powerful force on earth? In the 1800s, God. In the 1900s, the US military. And by the mid-2000s, encryption. Because as Assange put it, no amount of violence can solve certain kinds of math problems.

Ethereum is the second-biggest cryptocurrency in the world after Bitcoin. It’s also very different from Bitcoin in its structure and purpose. Ethereum wasn’t developed as a currency alone. Its innovation lies in opening the blockchain up to development for different applications outside currencies and finance. Developers can build software on top of Ethereum’s blockchain, and use the network’s distributed ledger to build trust for all kinds of applications. Since the Ethereum blockchain is decentralized, once a developer has built an application, it can’t be censored or taken down by any authority. That application lives as long as the Ethereum blockchain continues.

I describe Bitcoin as "a digital version of gold" eGold.

Privacy Is for Individuals, Not Corporations

Trust me, I get it - there is so much to absorb in the crypto space, but I'm here to help you along the way.

The choice is simple - Learn or get left.

The more you dig deeper into crypto the more you will discover you know little about so many things in life. Keep learning and never stop!

The global economic system must avoid being dominated by a single currency.

Even the crowded movie theater trick, it turns out, breaks down when the robber is carrying a large enough sack of loot and the cops are watching every exit.

The Decentralization of Finance is really good for humanity and it’s ultimately a win for each and every one of us. Because now that we can circumvent banks, exchanges and brokerage companies by using smart contracts on the blockchain… every person, every family, and every business will experience more liberty, more freedom, more opportunities, more abundance, more power, and more wealth. This makes way for more opportunities around financial wellness, permaculture investing, more effective crowdfunding, better ownership and equity arrangements, and more.

By the time you look a few hundred feet down, you are looking at a snapshot of the past that has remained undisturbed for millions of years. In the blockchain, the most recent few blocks might be revised if there is a chain recalculation due to a fork. The top six blocks are like a few inches of topsoil. But once you go more deeply into the blockchain, beyond six blocks, blocks are less and less likely to change.

certainly influence the future course of cryptocurrencies, which we take up in chapter 14; governments everywhere are facing the question of how to balance regulation with fostering innovation in this space. Nevertheless, one should have little doubt that governments have all the tools necessary to prevent any alternative transaction media from deeply infiltrating the legal economy on a sustained basis, thereby greatly undermining their value relative to the present-day status of cash.

We have been through a torrid decade and more, where living standards have declined but we are constantly told this one of the longest running economic expansions in history. It's as if truly live in George Orwell's 1984 and the powers that be speak a form of doublespeak. When they say employment is at a record high they fail to say wages have been going down in real terms for decades.

the thesis is that after many generations in which technology favored centralization (railroads, telegraph, radio, television, movies, mass production) since about 1950 it is now favoring decentralization (transistor, personal computer, internet, remote work, smartphone, cryptocurrency). So by this measure, peak centralization was about 1950, when there was one telephone company (AT&T), two superpowers (US/USSR), and three TV stations (ABC/CBS/NBC). Even though the 1950s are romanticized in the US, and there were certainly good things about the era, that level of centralization was not natural. This was an enormous degree of cultural homogenization, conformity, and sameness relative to the pre-1914 world just a few decades prior. Many aspects of individual initiative, creativity, and freedom had been dulled down or eliminated in the standardization process.

As Ethereum’s promise became apparent, people jockeyed for position. Charles, who had lobbied to be CEO, had casually asked Gavin, over a game of chess, to be his chief technology officer (CTO). Gavin, who, on Wednesday, sent the first ether transaction from his laptop to Charles’s, asked Vitalik if that was cool. Vitalik, being less interested in a title or in ordering people around than in conducting research (or learning Chinese), said sure and gave himself the title C3PO.

All 250 + episodes to date can be found at tim.blog/ podcast and itunes.com/ timferriss Jamie Foxx on Workout Routines, Success Habits, and Untold Hollywood Stories (# 124)—tim.blog/ jamie The Scariest Navy SEAL I’ve Ever Met . . . and What He Taught Me (# 107)—tim.blog/ jocko Arnold Schwarzenegger on Psychological Warfare (and Much More) (# 60)—tim.blog/ arnold Dom D’Agostino on Fasting, Ketosis, and the End of Cancer (# 117)—tim.blog/ dom2 Tony Robbins on Morning Routines, Peak Performance, and Mastering Money (# 37)—tim.blog/ tony How to Design a Life—Debbie Millman (# 214)—tim.blog/ debbie Tony Robbins—On Achievement Versus Fulfillment (# 178)—tim.blog/ tony2 Kevin Rose (# 1)—tim.blog/ kevinrose [If you want to hear how bad a first episode can be, this delivers. Drunkenness didn’t help matters.] Charles Poliquin on Strength Training, Shredding Body Fat, and Increasing Testosterone and Sex Drive (# 91)—tim.blog/ charles Mr. Money Mustache—Living Beautifully on $ 25–27K Per Year (# 221)—tim.blog/ mustache Lessons from Warren Buffett, Bobby Fischer, and Other Outliers (# 219)—tim.blog/ buffett Exploring Smart Drugs, Fasting, and Fat Loss—Dr. Rhonda Patrick (# 237)—tim.blog/ rhonda 5 Morning Rituals That Help Me Win the Day (# 105)—tim.blog/ rituals David Heinemeier Hansson: The Power of Being Outspoken (# 195)—tim.blog/ dhh Lessons from Geniuses, Billionaires, and Tinkerers (# 173)—tim.blog/ chrisyoung The Secrets of Gymnastic Strength Training (# 158)—tim.blog/ gst Becoming the Best Version of You (# 210)—tim.blog/ best The Science of Strength and Simplicity with Pavel Tsatsouline (# 55)—tim.blog/ pavel Tony Robbins (Part 2) on Morning Routines, Peak Performance, and Mastering Money (# 38)—tim.blog/ tony How Seth Godin Manages His Life—Rules, Principles, and Obsessions (# 138)—tim.blog/ seth The Relationship Episode: Sex, Love, Polyamory, Marriage, and More (with Esther Perel) (# 241)—tim.blog/ esther The Quiet Master of Cryptocurrency—Nick Szabo (# 244)—tim.blog/ crypto Joshua Waitzkin (# 2)—tim.blog/ josh The Benevolent Dictator of the Internet, Matt Mullenweg (# 61)—tim.blog/ matt Ricardo Semler—The Seven-Day Weekend and How to Break the Rules (# 229)—tim.blog/ ricardo

A bubble starts when any group of stocks, in this case those associated with the excitement of the Internet, begin to rise. The updraft encourages more people to buy the stocks, which causes more TV and print coverage, which causes even more people to buy, which creates big profits for early Internet stockholders. The successful investors tell you at cocktail parties how easy it is to get rich, which causes the stocks to rise further, which pulls in larger and larger groups of investors. But the whole mechanism is a kind of Ponzi scheme where more and more credulous investors must be found to buy the stock from the earlier investors. Eventually, one runs out of greater fools.

Using an example of how this would work in a more relatable scenario. If you were to imagine a hacker accessing the computer system of your bank and transferring all your funds from your own account into his and deleting all evidence of the transaction, existing technology would not be able to pick this up and you would likely be out of pocket. In the case of a blockchain currency like Bitcoin, having one server hacked with a false transaction being inserted into the database would not be consistent with the same record across the other copies of the database. The blockchain would identify the transaction as being illegitimate and would ultimately reject it meaning the money in your account would be kept safe.

What Ethereum Is Good For Ethereum is suited to building economic systems in pure software. In other words, it’s software for business logic, wherein people (users) can move money (data representing value) around with the speed and scale that we normally get with data.12 Not the three- to seven-day floating period you get with the commercial banking system. Or the fees associated with vendors such as Visa, MasterCard, and PayPal. With a simple Ethereum application, for example, it is fairly trivial to pay hundreds of thousands of people, in hundreds of countries, small amounts every few minutes, whereas in the legacy banking system you would need an entire payroll department working overtime to constantly rebalance your account ledgers and deal with the cross-border issues.

Found a startup society. This is simply an online community with aspirations of something greater. Anyone can found one, just like anyone can found a company or cryptocurrency.2 And the founder’s legitimacy comes from whether people opt to follow them. Organize it into a group capable of collective action. Given a sufficiently dedicated online community, the next step is to organize it into a network union. Unlike a social network, a network union has a purpose: it coordinates its members for their mutual benefit. And unlike a traditional union, a network union is not set up solely in opposition to a particular corporation, so it can take a variety of different collective actions.3 Unionization is a key step because it turns an otherwise ineffective online community into a group of people working together for a common cause. Build trust offline and a cryptoeconomy online. Begin holding in-person meetups in the physical world, of increasing scale and duration, while simultaneously building an internal economy using cryptocurrency. Crowdfund physical nodes. Once sufficient trust has been built and funds have been accumulated, start crowdfunding apartments, houses, and even towns to bring digital citizens into the physical world within real co-living communities. Digitally connect physical communities. Link these physical nodes together into a network archipelago, a set of digitally connected physical territories distributed around the world. Nodes of the network archipelago range from one-person apartments to in-person communities of arbitrary size. Physical access is granted by holding a web3 cryptopassport, and mixed reality is used to seamlessly link the online and offline worlds. Conduct an on-chain census. As the society scales, run a cryptographically auditable census to demonstrate the growing size of your population, income, and real-estate footprint. This is how a startup society proves traction in the face of skepticism. Gain diplomatic recognition. A startup society with sufficient scale should eventually be able to negotiate for diplomatic recognition from at least one pre-existing government, and from there gradually increased sovereignty, slowly becoming a true network state.

centuries-long debate over the nature of money can be reduced to two sides. One school sees money as merely a commodity, a preexisting thing, with its own inherent value. This group believes that societies chose certain commodities to become mutually recognized units of exchange in order to overcome the cumbersome business of barter. Exchanging sheep for bread was imprecise, so in our agrarian past traders agreed that a certain commodity, be it shells or rocks or gold, could be a stand-in for everything else. This “metallism” viewpoint, as it is known, encourages the notion that a currency should itself be, or at least be backed by, some tangible material. This orthodox view of currency is embraced by many gold bugs and hard-money advocates from the so-called Austrian school of economics, a group that has enjoyed a renaissance in the wake of the financial crisis with its critiques of expansionist central-bank policies and inflationary fiat currencies. They blame the asset bubble that led to the crisis on reckless monetary expansion by unfettered central banks. The other side of the argument belongs to the “chartalist” school, a group that looks past the thing of currency and focuses instead on the credit and trust relationships between the individual and society at large that currency embodies. This view, the one we subscribe to and which informs

Key Points: ● Transparency - Blockchain offers significant improvements in transparency compared to existing record keeping and ledgers for many industries. ● Removal of Intermediaries – Blockchain-based systems allow for the removal of intermediaries involved in the record keeping and transfer of assets. ● Decentralization – Blockchain-based systems can run on a decentralized network of computers, reducing the risk of hacking, server downtime and loss of data. ● Trust – Blockchain-based systems increase trust between parties involved in a transaction through improved transparency and decentralized networks along with removal of third-party intermediaries in countries where trust in the intermediaries doesn’t exist. ● Security – Data entered on the blockchain is immutable, preventing against fraud through manipulating transactions and the history of data. Transactions entered on the blockchain provide a clear trail to the very start of the blockchain allowing any transaction to be easily investigated and audited. ● Wide range of uses - Almost anything of value can be recorded on the blockchain and there are many companies and industries already developing blockchain-based systems. These examples are covered later in the book. ● Easily accessible technology – Along with the wide range of uses, blockchain technology makes it easy to create applications without significant investment in infrastructure with recent innovations like the Ethereum platform. Decentralized apps, smart contracts and the Ethereum platform are covered later in the book. ● Reduced costs – Blockchain-based ledgers allow for removal of intermediaries and layers of confirmation involved in transactions. Transactions that may take multiple individual ledgers, could be settled on one shared ledger, reducing the costs of validating, confirming and auditing each transaction across multiple organizations. ● Increased transaction speed – The removal of intermediaries and settlement on distributed ledgers, allows for dramatically increased transaction speeds compared to a wide range of existing systems.