Published: Feb 13, 2018 11:35 a.m. ET Digital Tradecoin would pick up where bitcoin, ethereum and others fall short New technologies that make it possible to reinvent our financial system have exploded over the past decade. Bitcoin
ethereum and other cryptocurrencies are proof that there’s a market for alternatives to the big, powerful players.
And yet, it’s unclear how these cryptocurrencies will affect the economic landscape. Problems like bubbles, financial crashes and inflation aren’t going away any time soon.
(Ahem, note recent events.) But in the future, things could be different. These digital currencies and their supporting infrastructure hold great promise for deepening our understanding of the monetary circuit.
With newfound clarity, we can build tools for minimizing financial risk; we can also learn to identify and act on early-warning signals, thus improving system stability. In addition, this new level of transparency could broaden participation in the economy and reduce the concentration of wealth.
For the past three years, our lab at the Massachusetts Institute of Technology (MIT) has worked on creating a new global currency, Digital Tradecoin, that combines the most recent technologies with the very old idea of a gold coin having intrinsic value. The currency will be backed by alliances of diverse players and anchored to a basket of real-world assets such as crops, energy and minerals, or perhaps by a portfolio of national currencies and bonds. Read more from marketwatch.com…
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