Crypto May Be Another "Time Store", Shiller Believes

Nobel laureate in economics believes that cryptocurrency is another attempt to change the format of money
22 May 2018   638

Nobel laureate in economics Robert Shiller said that cryptocurrencies are not the first attempt to change the existing format of money, and that all previous attempts ended in complete failure. This is reported by Bloomberg.

So, he gave an example of the so-called "time store", which was created by anarchist Josiah Warren in 1827 in Cincinnati. In this retail store, products were sold for hours of work or "labor bills."

Two years later, in London, textile industrialist Robert Owen attempted to found the Labor Exchange on the basis of labor tickets.

The concept of the "electric dollar," stressed Shiller, completely failed and was rather a comedy, not an innovation.

No one, outside of computer science departments, can explain how cryptocurrencies work. That mystery creates an aura of exclusivity, gives the new money glamour, and fills devotees with revolutionary zeal. None of this is new, and, as with past monetary innovations, a compelling story may not be enough.
 

Robert Shiller

Nobel laureate in economics

Earlier, Shiller called bitcoin "a psychological experiment." 

EOS to Buy $30M Worth Domain For Its Social Network

Earlier, CEO reported that his company will spent about $150M to develop Voice, and looks like "voice.com" purchase for $30M is one of the first steps
19 June 2019   109

The Block.One company, known for developing the EOS blockchain protocol, acquired a domain for its new social network Voice for $ 30 million. This is evidenced by documents published on the website of the US Securities and Exchange Commission (SEC).

Documents were provided by MicroStrategy, an analytical and mobile software provider. It follows the “voice.com” domain, registered in the GoDaddy domain name registry, was transferred to the EOS developer on May 30, 2019. After 2 days, Block.One officially announced preparations for the launch of a social network.

Block.one has made a smart strategic decision in choosing Voice.com to be the internet domain name for its new social media platform. The word ‘voice’ is simple and universally understood. It’s also ubiquitous — as a search term, it returns billions of results on the internet. An ultra-premium domain name like Voice.com can help a company achieve instant brand recognition, ignite a business, and massively accelerate value creation.
 

Marge Breya 

Senior Executive Vice President and Chief Marketing Officer, MicroStrategy Incorporated. 

The commercial model of MicroStrategy is based, among other things, on the accumulation and sale of such expensive domain names.

According to Block.One, the identification of users and the use of the EOS blockchain in the social network will help to avoid the massive influx of bots, which often affect other members of this niche. Earlier, CEO Block.One Brendan Blamer reported that his company spent about $ 150 million to develop Voice.