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Tag Archives: Crisis

Blockchain Can Avert the Next Financial Crisis: Former JP Morgan VP

Pang Huadong was at the heart of the crumbling financial services industry during the 2008 financial crisis, and from his experience during that troubled time, he believes that blockchain technology is the answer to averting such a crisis. Blockchain technology significantly reduces the cost of trust, which in the long run will lower the costs associated with the financial services ...

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Blockchain May Be Key to Avoiding Next Global Financial Crisis

The former vice president of North American investment banking at JPMorgan Chase has said that blockchain “may be the key to avoiding the next global financial crisis,” the China Economic Times reports today, July 23. Pang Huadong, currently an honorary academic advisor of the Asian Blockchain Institute, said that his experience at JPMorgan during the peak of the 2008 financial ...

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EOS’ Crisis of Dispute Resolution

Another week, another squabble involving the beleaguered EOS blockchain. The platform that has recently sustained a round of criticism for its lack of decentralization and its underwhelming technical robustness is now going through a governance crisis. The problem partly stems, quite ironically, from the lack of the system’s mediating capacity and centralized enforcement over the pool of Block Producers – ...

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An Alternative Solution to Venezuela’s Economic Crisis

One million units of a nation’s currency to buy a cup of coffee would have been unthinkable before now. This is the case in Caracas, Venezuela, today, where it now costs one million bolivars to buy a single cup of coffee. This is due to the hyperinflation of the past 12 months in the once-rich OPEC country, which has now ...

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Insight From a Place of Crisis: Bitcoin as an Agent of Change

Delving into bitcoin can take guts — and not just the type of bravado needed to embrace crypto speculation. Sometimes standing up for bitcoin also means standing up for your homeland and fellow citizens, in search of a better way. The latter display of bravery is embedded in the recently launched Let’s Talk Bitcoin! podcast #370 hosted by Adam B. ...

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EOS Faces Constitutional Crisis over Frozen Accounts

“Consensus by conference call” — that’s how one critic characterized the on-chain governance model employed by the nascent EOS network in the wake of several high profile incidents involving block producers. Most recently, the network’s 21 block producers — organizations who verify transactions and validate blocks — froze seven EOS accounts allegedly belonging to thieves who had stolen funds by ...

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Millennials Will Never Recover From 2008 Financial Crisis, Student Loans Worsen the Issue – The Merkle

According to a study released by the Federal Reserve Bank of St. Louis entitled “A Lost Generation”, millennials will never be able to recover from the Great Recession and the 2008 financial crisis. The Fed stated that families headed by someone born in the 1980s have net worths that are 34 percent lower than expected. The report read: We found that typical families headed by ...

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Blockchain-Powered Solutions for Media in Crisis

In the US and around the world, quality journalism is going through difficult times. Against the backdrop of steadily declining trust in the mainstream press, systemic issues like the ever-intensifying political polarization of the media, proliferation of fake news, and asymmetric power relations between platforms and publishers, among others, stand in the way of the press striving to fulfill its ...

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Iranians Turn to Bitcoin Amid Nuclear Deal Crisis

The President of the United States, Donald Trump, announced the country’s withdrawal from the Iran nuclear deal and the restoring of sanctions on the theocratic regime. In response, Iranians are turning to Bitcoin and cryptocurrency to protect their savings from potential future banking restrictions and currency volatility as sanctions storm in. Iranians Turn to Bitcoin, Despite Launch of Local Cryptocurrency ...

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Can Blockchain Help the Data Crisis? | Not Likely

In 2007, as the financial crisis took flight, the market was introduced to Bitcoin and blockchain. Both were supposed to be the markets savior, and, for a while, Bitcoin and blockchain did the job. Now, however, we have entered into a new crisis: a data crisis. So the question on everyone’s mind is, can blockchain help the data crisis? Can ...

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