Why we should stop talking about blockchain ideals and start talking about economics.
By London Gibson
Blockchain has been a buzzword in technology and business circles since the rise of bitcoin several years ago — but Texas McCombs Associate Professor of Finance Cesare Fracassi thinks people may be talking about it all wrong.
Discussion about emerging blockchain technology is too wrapped up in ideals and doesn’t focus enough on economics, Fracassi says.
People talk about ideals — decentralization, trust, transparency — instead of talking about what really matters to people,” Fracassi says. “The discussion has to be framed around economic variables.
For people new to the discussion, a blockchain is a decentralized digital ledger, used to record economic transactions with networks of computers.