6. Bitcoin and the developing world

USD $10.00

The significance of bitcoin for the developing world lies in it offering a technical non-political solution to the problem of building a global monetary and financial system. Balance of payment problems and the pursuant financial crises and hyperinflations that have become a seemingly permanent fixture of many developing countries’ modern history are not unrelated to the use of sovereign national currencies as global reserve assets, and the political incentives fostered by the indulgent sovereign lending of financial institutions that face no real accountability or strict funding constraints. (15,150 words)