Could #blockchain Prevent Market Crashes Like in 2008?
▻https://hackernoon.com/could-blockchain-prevent-market-crashes-like-in-2008-98240bfeed7f?source
In 1929 the Great Depression started in the United States. The economic depression lasted until 1933, and it is marked as the longest, most profound and most widespread financial crisis of the 20th century. During this period nearly 11,000 banks failed, the unemployment rate only in the US rose above 25%. After that, governments across the world set up new laws to prevent such a crisis again. Nevertheless, there were at least two major crises across the globe after the Great Depression. And even though it was believed that the financial sector would learn from its mistakes, 2007 came and the most recent global financial crisis hit the world.The global financial crisis was primarily caused by a lack of transparency and deregulation in the financial industry. That allowed banks to engage (...)