The Wall Street industry buzzword of the past two years has been “blockchain”. In less than a decade, blockchain technology grew from an obscure experiment into the hottest topic in the payments industry. The problem is that many people still have trouble wrapping their minds around the concept. Let’s...
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Preface ICOs, also known as “token sales,” are a relatively new fundraising phenomenon used to launch new companies or fund a development project. According to ICOStats, nearly $2.3 billion has been raised in 2017 in ICOs. This amount eclipses the amount of money raised by early stage venture...
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J. R. Willett’s “The Second Bitcoin White paper” describes (among other things) user currencies which track value of a specific assets without being backed by that asset by issuer. At first this seems to be counter-intuitive… You can’t create digital gold out of nothing. However, something very similar happens...
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