Kik, Kin, digital, innovation, cryptos, cryptoassets, cryptocurrencies, decentralization, ICO, SEC, initial coin offering

The Wall Street Journal recently reported that Kik, a messaging app that raised close to $100 million dollars in a 2017 initial coin offering (ICO) of its “Kin” token, is challenging a proposed Securities and Exchange Commission enforcement action against the company. As has been discussed by…

cryptoassets, Kareken-Wallace, currency substitutes, cryptocurrencies

Some prominent economists have begun to analyze formally the market for a privately issued outside money that they associate with Bitcoin. Rodney Garratt and Neil Wallace (2018) (ungated version here) model the relative values of (exchange rates between) “Bitcoin 1” and other hypothetical cryptoassets (“Bitcoin 2,” etc.)….

Bitcoin, Bitcoin energy use, payments systems

The environmental impact of cryptocurrencies looms large among the many concerns voiced by sceptics. Earlier this year, Agustín Carstens, who runs the influential Bank for International Settlements, called Bitcoin “a combination of a bubble, a Ponzi scheme and an environmental disaster.” Carstens’ first two indictments have been…