11 Sep '17, 7pm

'Revolutionary': Finland Central Bank Paper Heaps Praise on Bitcoin

Researchers at Finland's central bank have dubbed bitcoin's economic system "revolutionary" in a new staff paper. The paper , released on September 5, constitutes an investigation into the ins and outs of bitcoin's infrastructure, notably arguing that it constitutes a "monopoly run by a protocol." The three authors – Gur Huberman, Jacob Leshno and Ciamac Moallemi – contend that this characteristic offers a degree of protection against manipulation by bad actors by virtue of the protocol-layer dynamics. The group write: "Bitcoin is a monopoly run by a protocol, not by a managing organization. Familiar monopolies are run by managing organizations with discretion to determine and then change prices, offerings and rules. Monopolies are often regulated to prevent or at least mitigate their abuse of power." Other notable assertions featured in the paper include the argument that...

Full article: https://www.coindesk.com/revolutionary-finland-central-ba...

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Namibian Central Bank: Bitcoin Purchases Illega...

coindesk.com 14 Sep '17, 9am

Cryptocurrency exchanges are not allowed in Namibia under a decades-old law, and merchants in the African country may not ...