Cryptocurrencies and the emperor's new clothes

I think about the emperor's new clothes when the subject of cryptocurrencies comes up. (Image: iStock)

Mon, 31 Jan 2022

Every time I think about cryptocurrencies, the big question is why? What is it good for? What unmet need does it fulfil? What need does it better fulfil than any other option?Money laundering, illegal drug dealing and tax evasion seem the only logical answers, activities that most countries want to discourage.But the true believers in the blockchain technology that makes cryptocurrencies possible got a boost last year when El Salvador became the first country to accept bitcoin, the largest cryptocurrency, as legal tender from September.Accordin...

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