“Proof-of-Nuclear-Bombs”: a most reliable design for stablecoin utility (Part I)
▻https://hackernoon.com/proof-of-nuclear-bombs-a-most-reliable-design-for-stablecoin-utility-par
David Landes’s The Unbound Prometheus (1969) was published just as the Nixon Administration was establishing the new fiat currency regime. Perhaps nuclear power was Prometheus’s “gift of fire” to the US dollar and United States… or was it?This is a 3-part analysis on a more sociological take on the history of world reserve currencies to preface the purely financial or technical discussions of stablecoin and digital currency mechanics. By no means am I providing the end-all-be-all guide on stablecoin design, but merely providing some anthropological equipment on how to approach the stablecoin discourse and what other thoughts came about from this mode of analysis and way of thinking. Part II aims to explain a theory on the origination of the velocity (or vortex) of money created by this (...)
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