V. Cryptocurrencies: looking beyond the hype

Jay OwenReforming Global Finance

 

Chapter V of the Annual Ecomomic Report 2018. Cryptocurrencies promise to replace trusted institutions with distributed ledger technology. Yet, looking beyond the hype, it is hard to identify a specific economic problem which they currently solve. Transactions are slow and costly, prone to congestion, and cannot scale with demand. The decentralised consensus behind the technology is also fragile and …

Continue Reading