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Blockchain Works Like Money in Yap

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Blockchain Works Like Money in Yap
"Stone Money of Uap, Western Caroline Islands." Dr. Furness took this photograph during a 1903 stay on Uap (Yap), published it in a 1904 scholarly article, and allowed his sister, Caroline Furness Jayne, to republish it in her 1906 book, “String Figures.” Dr. William Henry Furness III, Public Domain
Jeffrey A. Tucker
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Commentary

Many people, including fans of Bitcoin, think of crypto as a magic money-making token that serves no useful purpose other than to fatten portfolios. Not one holding in a million could give you a standing-on-one-leg description of precisely why it is valuable or why anyone should care about the technology other than as a 21st-century scheme for boosting income.

Jeffrey A. Tucker
Jeffrey A. Tucker
Author
Jeffrey A. Tucker is the founder and president of the Brownstone Institute and the author of many thousands of articles in the scholarly and popular press, as well as 10 books in five languages, most recently “Liberty or Lockdown.” He is also the editor of “The Best of Ludwig von Mises.” He writes a daily column on economics for The Epoch Times and speaks widely on the topics of economics, technology, social philosophy, and culture. He can be reached at [email protected]
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