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Cryptocurrency and the Problem of Intermediation

By
  • Cameron Harwick

Originally published in The Independent Review

Can bitcoin or other cryptocurrencies replace government-issued monies? To do so, they must overcome several obstacles, including the lack of financial intermediaries whose liabilities are denominated in cryptocurrencies and circulate as media of exchange.

Can bitcoin or other cryptocurrencies replace government-issued monies? To do so, they must overcome several obstacles, including the lack of financial intermediaries whose liabilities are denominated in cryptocurrencies and circulate as media of exchange.

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