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he Blockchain technology has fundamentally changed the idea of creating crypto currencies compared to the purpose of private money.

Eliminating Shadow Economy: Why Is Blockchain Unprofitable for Bureaucrats?

4 mins read

Private money emerged a long time ago and was quite a common thing. But despite this, a monopoly on the emission of such money was established only in the 19th century. At the time when only metal coins were used, private money posed no threat to state economy, served as banknotes and was legal. With the emergence of fiat money, which was not backed by precious metals, the emission of private money was limited. This and other factors, which negatively influence  the stability of state currency, are often followed by the emergence of pyramid schemes based on private money, emission…

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Eliminating Shadow Economy: Why Is Blockchain Unprofitable for Bureaucrats?

4 mins read

Private money emerged a long time ago and was quite a common thing. But despite this, a monopoly on the emission of such money was established only in the 19th century. At the time when only metal coins were used, private money posed no threat to state economy, served as banknotes and was legal. With…