Bits on Blocks Thoughts on blockchain technology

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Reactive Re-intermediation

I have a simple mental model for financial services and blockchains. Before blockchains, customers (people, businesses) would instruct their bank, which would interact with financial rails to execute the instruction.  Customers did not have...

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A Gentle Introduction to DePIN

DePIN – “Decentralised Physical Infrastructure Networks” describes companies that are exploring a new capital-light crowdsourcing business model, where contributors participate in the success of the project. DePIN companies crowdsource resources, sell a product to...

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Cross-Border Payments

With the talk of PayPal issuing a stablecoin, the idea of cheapening cross-border payments is bound to come up again.  But it’s not really about crossing borders, it’s a little more complex than that....

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Metaverse Musings Part One

Some people feel they are already living in the metaverse, given how much time they spend staring at screens and interacting with other humans via video conferences and chat groups. Others say we are...

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What if USDT Tether depegged?

Having spoken with a number of industry participants, it’s clear to me that the large traders do not expect USDT to depeg.  They tend to believe Tether Inc has more than enough assets to cover its...

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The Island of Crypto

Crypto-for-crypto is a normal part of a paradigm-changing shift, it’s to be expected, and follows a natural path.