In little more than thirty years, the microcredit concept has gone from being equated with Zorro, the mythical Mexican hero and friend of the poor and exploited, to being widely referred to as a zombie policy, a dead and rotten idea that nevertheless keeps rising from the grave. How did it come to this?
If Bitcoin’s strength comes from decentralization, why pour millions into a single company? Ah, because Coinbase provides an “accessible interface to the Bitcoin protocol”, we’re told. We must centralize to decentralize, you see; such is the perverse logic of capital co-opting power.
Hyperconnectivity makes informational asymmetries a thing of the past; every party to a transaction can negotiate a sale fully informed.
Mark Pesce – Hypereconomics.