Sovereign Arcade: Currency as High-Margin Infrastructure | Eric Jang
This essay is about how the powerful want to become countries, and the implications of cryptocurrencies on the sovereignty of nations. I’m not an economics expert: please leave a comment if I have made any errors.
This essay is about how the powerful want to become countries, and the implications of cryptocurrencies on the sovereignty of nations. I’m not an economics expert: please leave a comment if I have made any errors. Money allows goods, services, and everything else under the sun to be assigned a value using the same unit of measurement. Without money, society reverts to bartering, which is highly inefficient. You may need plumbing services but have nothing that the plumber wants, so your toilet remains clogged. By acting as a measure of value everyone agrees on, money facilitates frictionless…
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