The Cryptocurrency Trust Architecture

Cryptocurrencies have a long way to go to achieve mass adoption. The total market cap of all (4,991!) cryptocurrencies is about $203B, less than a fifth of Apple’s [1]. Still, a recurring theme coming from crypto thought-leaders is the salvation of the unbanked. Recently, Twitter’s CEO, Jack Dorsey, who is a longtime bitcoin advocate, pronounced that Africa... Continue Reading →

China’s Digital Currency Scare

Mark Zuckerberg, in his October 23, 2019 testimony before the U.S. House of Representatives, positioned the Libra project as the answer to China's efforts to create its own digital currency and raised the alarm of a weakening American financial leadership. He also warned that foreign companies and countries that are launching their own digital currencies might adopt... Continue Reading →

The Truth Behind Venezuela’s Adoption of Bitcoin

Stories have been circulating about bitcoin usage in Venezuela, which has been and still is experiencing a historic economic crisis. Against the backdrop of hyperinflation and extreme poverty, pieces in media outlets like the BBC and the New York Times reinforce what many crypto-enthusiasts have been spreading online and in events: Many Venezuelan's are turning to bitcoin to preserve... Continue Reading →

Libra’s Mission Impossible

Facebook-led Libra wants to provide a global currency to the 1.7 billion individuals who are unbanked, the overwhelming majority of whom reside in developing nations. The Libra white paper and the many discussions that ensued failed to mention that many developing nations already have vibrant mobile money/e-wallet services with specific goals to serve the unbanked.... Continue Reading →

Let’s Put Libra to the Test

A Swiss-based association formed by Western behemoths wants to spread financial inclusion in the developing world. Hold my Sanpellegrino Aranciata! The Facebook-led Libra cryptocurrency has the aspirational goal of bringing the world's 1.7 billion unbanked into the fold of digital finance. The Libra white paper makes it clear that it aims to serve the likes of farmworkers... Continue Reading →

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