Cryptocurrencies Exist Because Of Alternative Demand

Central bankers are feeling the heat of Facebook’s Libra digital currency project — but beyond an existential threat to central bank seigniorage, cryptocurrencies are raising the fundamental question of what money is, to begin with.

Patrick Tan
Published in
12 min readOct 27, 2019

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Patrick Tan
The Dark Side

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