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Morning Must-Read: Izabella Kaminska: Closed-System Blockchains - Washington Center for Equitable Growth

You’ve just found a genius way of passing on your clearing costs to a network of unsuspecting volunteers and speculators. Even better than that, they don’t seem to notice the huge favour they’re doing for big financial businesses, because they’ve become so distracted by the idea of not depending on banks, they’ve overlooked that in the process they’ve become poorly-paid bank employees instead…
#Izabella-Kaminska - equitablegrowth.org