The Great Hard Fork: An Unraveling of State Legitimacy
The rise of cryptocurrency doesn’t merely threaten the monopoly of central banking, however; in fact the entire nation state apparatus rests precariously on the structure of banking carefully crafted over 400 years. What cryptocurrency threatens is the very existence of the nation state which will have to pivot quite radically in order to survive the coming onslaught from the blockchain. The resulting institutional framework might look entirely alien once the dust has settled.
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