Max Gulker is a senior research fellow at the American Institute for Economic Research. Gulker holds a doctorate in economics from Stanford University and a bachelor’s degree in economics from the University of Michigan.
Does the world need crypto products?
http://printarchive.epochtimes.com/a1/e ... PINION.pdf
Starts: Liberty Street Economics, the blog of the Federal Reserve Bank of New York, recently did a Q&A session with New York Fed economists Michael Lee and Antoine Martin about cryptocurrencies. It’s a largely neutral and factual interview, but the economists do make one provocative comment:
“Cryptocurrencies arguably solve the problem of making payments in a trustless environment, but it is not obvious that this is a problem that needs solving, at least in the United States and other
advanced economies.” In other words, why go through the trouble of network bottlenecks and proof-of-work schemes when people already trust their government institutions and banking systems?
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