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Category Archives: Blockchain

Blockchain – Innovation or Illusion?

Via Slashdot, EditorDavid: “Adam R. Smith, a software engineer with 40+ years of experience reportedly became frustrated with his friends and associates’ claims about the potential of crypto technology and their subsequent losses of money in various schemes, and set out to write a series of articles explaining what blockchain is and whether it lives up to its claims. This ended up morphing into a passion project that produced an 84 minute documentary entitled, “Blockchain — Innovation or Illusion?  The film, which is currently making the rounds at various film festivals, has recently been released online in its entirety on YouTube. In it, Smith, who goes by the alias, “American Scream” explains what blockchain is in layman’s terms, how it relates to conventional databases and tech, and how the crypto industry seems more dependent upon coercive psychology, than innovation. The film addresses a wide variety of topics including, “Is blockchain disruptive?”, “Is de-centralization even worthwhile?”, and explains the how and why tokens, mining, and other blockchain-based elements like smart contracts and NFTs operate. In the second half of the film, Smith goes into specific claims and scenarios such as, “Is blockchain really immutable?” and “Can blockchain verify authenticity?” identifying common issues like “The Oracle problem” and whether arguments like, “Crypto helps bank the unbanked” and “Crypto is digital gold” really make sense? John Reed Stark, former Chief of the SEC Office of Internet Enforcement called Smith one of his favorite technologists and that the film was “spot on” in its characterization of the technology.

  • Watch the full documentary here.

The Stable in Stable Coins

Federal Reserve Borad, December 16, 2022 – The stable in stablecoins – Garth Baughman, Francesca Carapella, Jacob Gerszten, and David Mills: “Stablecoins have garnered much attention as a key part of the emerging decentralized finance (or “DeFi”) ecosystem, and as a potential way to pay for goods and services. Stablecoins facilitate trades on crypto exchanges,… Continue Reading

CRS Video Seminars on Disruptive Technologies

CRS Seminars on Disruptive Technologies: Videos – Updated December 8, 2022: CRS Seminars on Disruptive Technologies: Videos – “New technologies, and those that represent an evolutionary improvement of an existing tool or process, that exhibit the potential to have large-scale effects on social and economic activity are often referred to as “disruptive” technologies. They can… Continue Reading

CFPB Publishes New Bulletin Analyzing Rise in Crypto-Asset Complaints

“Today, the Consumer Financial Protection Bureau (CFPB) released a new complaint bulletin that highlights complaints the CFPB received related to crypto-assets. Consumers most commonly reported being victimized by frauds, theft, account hacks, and scams. Consumers also had issues with executing transactions and transferring assets between exchanges. Many consumers had issues with accessing funds in their… Continue Reading

Climate Action Data Trust

“The International Emissions Trading Association (IETA) today revealed information on the forthcoming launch of Climate Action Data Trust (CAD Trust), a decentralised metadata system that can link, aggregate and harmonise all major carbon market registry data.Climate Action Data Trust (CAD Trust) is a joint initiative of the International Emissions Trading Association, The World Bank and… Continue Reading

A new definition of crypto comes from the IRS

Coin Telegraph: “…No matter how much attention the United States Securities and Exchange Commission (SEC) or Commodity Futures Trading Commission gets in the crypto industry, for individual traders and investors, it often comes down to the Internal Revenue Service’s (IRS) position — and how much tax one owes. Last week, the IRS last week released… Continue Reading

Existing and Potential Use Cases for Blockchain in Public Procurement

Telles, Pedro, Existing and Potential Use Cases for Blockchain in Public Procurement (July 20, 2022). Available at SSRN: or “The purpose of this paper is to assess the possibility of using blockchain technology in the realm of public procurement within the EU, particularly in connection with the award of public contracts. In this… Continue Reading