Showing posts from October, 2019

Real Issues in Cryptocurrencies

Brief History of Coins Driven Economy Remember those young care-free days when we were collecting stamps, currency notes and coins of various countries? What interested me most were the coins of various Kings of India. Each king had their own coin imprinted on some form of metal or stone. While barter system (before coins were introduced) was perfect on many grounds, it was rigid and limited, it forced us to have a transaction only when both parties had what other didn’t have but wanted it. There is more to this but in nutshell coins (currency) became a great engine to fill the gaps in the barter system — giving birth to a much flexible economy. Currencies, however also gave rise to an issue. Currencies were essentially a printed resource. There are regulations around printing currencies, however it is always subjective and at the mercy of the “expert”, there are also various forms of pressure from stakeholders and not more than often the resources are exploited and more cu