Facebook is working on their own currency: a stablecoin, pegged to a mainstream currency. It will likely get rolled out first to users of WhatsApp, which could use this currency to send money to friends and family instantly. But will the currency they ultimately use have any value outside of the platform?
While Bitcoin is only ten years old, the origins of the technologies behind it go back much further, and its future implications are still not clear.
Remember when Bitcoin’s energy consumption was going to destroy the world? It turns out that the planet’s demise at the hands of crypto miners may have been greatly exaggerated. Bitmain’s recent financial filings and a new change in in how a much-touted number, the Bitcoin Energy Consumption Index, is calculated should allay fears that crypto will singlehandedly destroy our planet.
The fortuitous appearance of a member of JPMorgan’s Blockchain Strategy Team on the schedule for Columbia University’s LedgerFest conference on February 15th motivated us to duck out early from a different conference in midtown and make the trek up to Morningside Heights.