Proof of Work: The tide is turning for state power

Benjamin Friedrich | The Block

Quick Take

  • Cryptocurrencies are eroding the State’s ability to print money. Corporate and decentralized currencies like Bitcoin will compete with national fiat currencies

  • The ability of the state to wage war even on supposedly much weaker adversaries has become way more costly

  • The internet has allowed for information to be spread widely in a way that was previously only available to state actors

The following newsletter is republished with permission from Eric Meltzer of Primitive Ventures, a global venture investment firm with a focus on blockchain and related technologies. You can follow Eric on Twitter at @wheatpond and subscribe here to Proof of Work.