There needs to be a new term for "technologies" like NFTs and central-bank-backed cryptocurrencies—perhaps something like "confusionware." These products are perpetual-motion-machine-type vaporware that exist *purely* based on the confusion of those who read about them.
It is disturbing when they attract the buy-in of mainstream media and government officials. But that is exactly what has been happening.
For example, this article by @macrocredit should be considered a wild joke—the article literally starts with the argument that "everybody's doing it"—but it's actually printed on Bloomberg's masthead. Key question: does Alberto Gallo know what a hash is?
https://twitter.com/lisaabramowicz1/status/1397192161309995017
Another key question: Can @macrocredit identify one feature of a central bank-backed cryptocurrency that the United States Dollar does not already have?
"In theory, a digital dollar using the blockchain could provide the identity of each buyer and seller in a transaction, giving the Fed real-time data on individual “wallets”."
So could a digital dollar NOT using "the blockchain." So what's the point?
So could a digital dollar NOT using "the blockchain." So what's the point?
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