Cryptocurrencies Don’t Need Your Permission

Facebook’s Libra cryptocurrency is all but dead, but should it have even asked for permission to live to begin with?

Patrick Tan
The Capital

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Working it. (Photo by Nadya Spetnitskaya on Unsplash)

In a nondescript kitchen, in an anonymous suburb in the outskirts of another American city, Joy Devereux was laboriously kneading the dough for another batch of her immensely popular Kougin-amann, a decadent and fatty pastry honed in the Brittany region of France.

Beads of sweat now starting to emerge on her forehead, like a string of pearls circling a Stepford wife’s neck before an evening at the town club, Devereux’s techniques look like they were learned somewhere between the Culinary Institute of America and the diner on the corner of 8th Avenue and 42nd Street in midtown Manhattan.

But Devereux was no professional chef, she was in fact peddling her fine pastries from her own home kitchen.

As her skills at baking grew, more and more friends and family members suggested that Devereux actually start to sell her wares.

Yet with no penchant for business, the only thing she knew was to bake and take orders on the phone or through introductions.

So as her business started to grow, it never occurred to Devereux that running a bakery out of her home…

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Patrick Tan
The Capital

General Counsel for ChainArgos, the blockchain intelligence firm made famous for breaking the story that BUSD was unbacked by US$1.4bn