Why Crypto Needs Institutions
▻https://hackernoon.com/why-crypto-needs-institutions-f089410e2506?source=rss----3a8144eabfe3---
Most #cryptocurrency pioneers would not call what they’re building “institutions.” The term reeks of centralization — it’s too unsexy. (Except when it’s “institutional capital”, then it’s welcomed with open arms.)In a recent debate between Paul Krugman and Katie Haun on cryptocurrencies, Krugman is asked why he rejects the decentralized vision behind cryptocurrencies. He responds:“We developed this socially ingenious thing: enduring institutions […] and it’s going to be really, really hard to come up with something better.”This is an unpopular view within the crypto world, but I think he’s absolutely right.Ask what has driven the economic vitality of the most advanced nations in the world, and we pretty much know the answer: it’s strong institutions. If you improve a country’s institutions, the society (...)
#ethereum #crypto-institutions #blockchain #hackernoon-top-story