On scarcity, ubiquity, and value; or, what is an NFT?

The last few weeks, “NFTs” have been all the rage. So far, the US National Basketball Association Top Shot product from Dapper Labs has had over $230US million in sales. And there’s purportedly another $150 million in NFT art. Some of these things may be bubbles, but I do think there’s something real going on […]

US Senate discusses “digital dollar”

Last November, Beijing went “all in” on blockchain (Newsletter #14), saying they were going to move forward with a state-backed crypto currency. Unsurprisingly, when Xi Jinping made that announcement, things were already well underway. They launched a pilot of the digital currency the next month, and announced just last Wednesday that they were expanding the trial to include […]

Beijing is going all-in on blockchain

Chinese President Xi Jinping said China should “seize [the blockchain] opportunity”. There’s a lot in there, but the big play is that they’re intending to launch a state-backed crypto currency. Of course, this won’t have the purported benefits of true, open cryptocurrencies, but it does represent a huge opportunity for China, including (by no means […]