Lessons from 2008: Can #blockchain Pioneers Avoid Repeating the Mistakes of the Past?
▻https://hackernoon.com/lessons-from-2008-can-blockchain-pioneers-avoid-repeating-the-mistakes-o
And so the creator carved unto the block of genesis, a reminder to those who would come after.“Chancellor on brink of second bailout for banks.”These were the first words inscribed onto the first block, of the very first blockchain. Satoshi Nakamoto, the creator of Bitcoin, did not choose these words lightly. Even then, I think they knew of the historical significance of that “genesis block”. Even then, they knew that their technology could fundamentally change the way we approach transactions.For Satoshi, “Eat Out from £5” was a close runner up.In the aftermath of the 2008 financial crash, public confidence in the capital markets plummeted even further as the government poured billions into the “bailout”. By then, it was already clear to investors that the credit-ratings couldn’t be trusted, the (...)
#blockchain-pioneers #financial-institutions #blockchain-innovators #economics