Bitcoin 

Could Blockchain Technology Prevent the Next Financial Crisis?

A central bank’s role is to manage a nation’s currency, money supply and interest rates. The United States did not have a central bank until 1913, when Woodrow Wilson signed the Federal Reserve Act into law. Since then, the Federal Reserve has been accountable for the elasticity of the U.S. economy through the expansion and contraction of liquidity in the form of credit and new fiat money supply. Retail and institutional banks abide by the Fed’s stringent economic rules, which in turn trickle down to affect the daily lives of…

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Bitcoin 

Bitcoin Price ‘Will Struggle’ in Big Financial Crisis, Says Investor

Spencer Bogart, a general partner at venture capital firm Blockchain Capital, thinks that Bitcoin (BTC) will be a safe haven in the long term. However, he has a nuanced view of how BTC price will play out with respect to various economic events. Bogart shared his views during an interview with Bloomberg on Aug. 20. According to him, risks of monetary devaluation can drive Bitcoin’s price up. Bogart commented: “I think longer term Bitcoin will absolutely be a safe haven […] I think that when you have looming risks of…

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Ethereum 

Blockchain-Powered Solutions for Media in Crisis

In the US and around the world, quality journalism is going through difficult times. Against the backdrop of steadily declining trust in the mainstream press, systemic issues like the ever-intensifying political polarization of the media, proliferation of fake news, and asymmetric power relations between platforms and publishers, among others, stand in the way of the press striving to fulfill its crucial societal functions. The central role of the media in the society is, at least normatively, to provide the public with essential knowledge of the state of the world that…

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Blockchain 

‘This Tech Can Solve the Trust Crisis’

Head of Blockchain and Distributed Ledger Technology at the World Economic Forum (WEF), Sheila Warren, claims that blockchain could be a solution to the worsening trust crisis globally. Warren made her comments during an interview with Cointelegraph on May 31. During the interview, Warren claimed that public trust towards governments, banks, media and institutions, namely in the U.S., is “rapidly eroding.” She then noted that she thinks that blockchain, if used correctly, can be a solution to this problem: “This technology could provide access to information that could enable third…

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Bitcoin 

How Security Tokens Can Prevent an Impending Financial Crisis

Many economists argue that the root causes of the 2008 global financial crisis have yet to be addressed comprehensively, or that measures taken have been exhausted, such as the extent to which quantitative easing was used, which has been put forward by the deputy director of the International Monetary Fund (IMF). Some argue that the efforts to address the causes of the crisis have actually made the system more — rather than less — susceptible to a catastrophic collapse. On the heels of the recent yield curve inversion, finding new…

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Bitcoin 

QuadrigaCX Is Filing for Creditor Protection Amid Liquidity Crisis, Community Remains Largely Skeptical

Canadian cryptocurrency exchange QuadrigaCX is in hot water: Following the sudden death of its 30-year-old founder, Gerald Cotten, the exchange has allegedly lost access to its cold wallets, where most of the funds were stored. Now, the exchange has taken to court to avoid the collapse, but some community members suggest that QuadrigaCX’s cold wallets never existed. Canada’s largest crypto exchange with a complex history QuadrigaCX was launched in December 2013 and operated from Vancouver, British Columbia. The digital assets exchange was founded by Gerald Cotten and Michael Patryn. Prior…

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Bitcoin 

European Central Bank Exec Calls Bitcoin the ‘Evil Spawn of the Financial Crisis’

Executive Board member of the European Central Bank (ECB) Benoit Coeure considers Bitcoin (BTC) to be the “evil spawn of the [2008] financial crisis,” Bloomberg reports Nov. 15. Coeure reportedly made his acid remarks at the Bank for International Settlements (BIS) in Basel. The BIS’ general manager Augustín Carstens has likewise previously made a spate of crypto-skeptical remarks, notably characterizing Bitcoin as a “combination of a bubble, a Ponzi scheme and an environmental disaster.” Explicitly recalling Carstens’ characterization, Coeure framed his criticisms of the ten year old innovation with a…

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