Published On: Fri, Aug 4th, 2017

Op Ed: Is the Blockchain Economy Ushering in a New World Economic Order?

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In this guest post, blockchain theorist Melanie Swan discusses three recent developments in the blockchain economy, using classical economic principles to distinguish between hype and long-term structural change.The Hard Fork of August 1The first important recent event in the blockchain economy is the long-anticipated Bitcoin hard fork that happened on August 1, 2017. A hard fork is a change to the software protocol that creates a permanent divergence from the previous version of the blockchain, such that nodes running the old software are no longer accepted by the newer version. The change was for the purpose of improving scalability, the Bitcoin …

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