Issue #47: Consensus Mechanisms in Traditional Finance and Decentralized Finance
maroonmacro.substack.com
In Issue #36 of Monetary Mechanics, I introduced the idea that blockchain-based finance (i.e. decentralized finance a.k.a. DeFi) is a fundamental improvement in the accounting of economic transactions that facilitates the expression of a whole series of novel financial functions. This expansion in financial functions will undoubtedly be commensurate with the historic explosions in the volume and variety of economic activity that are associated with the Renaissance, the Industrial Revolution, and the post-WWII economic boom.
Issue #47: Consensus Mechanisms in Traditional Finance and Decentralized Finance
Issue #47: Consensus Mechanisms in…
Issue #47: Consensus Mechanisms in Traditional Finance and Decentralized Finance
In Issue #36 of Monetary Mechanics, I introduced the idea that blockchain-based finance (i.e. decentralized finance a.k.a. DeFi) is a fundamental improvement in the accounting of economic transactions that facilitates the expression of a whole series of novel financial functions. This expansion in financial functions will undoubtedly be commensurate with the historic explosions in the volume and variety of economic activity that are associated with the Renaissance, the Industrial Revolution, and the post-WWII economic boom.