Oct 13, 2019, 6:59 AM
by Alain Dwight
All money is a share in a particular economy. Having money generated by a predefined, publicly visible algorithm might be a step closer to rule of law in finance, but it’s not a full accounting rule of law for finance and it doesn’t magically make the economy it represents more valuable.
To raise the value of shares, rule of law still needs to be applied and enforced separately, at which point crypto’s only advantage (I know of) would be transactions that are marginally more efficient (if true), which would be a fringe benefit, not a revolutionary shift.
You can write software to help expose, cut out, and compete with the parasites but that’s going to hit a hard limit, unless you address the underlying issue (a comprehensive plan to replace parasitic control of law w/ rule of law and high trust).