The simple answer for “What is blockchain in one sentence?” points to the example of Yap Island once again. You can find a lot of similarities between theworking of blockchain technologyand the old transactions on Yap Island. Just like announcing a transaction to the tribe, everytransaction...
as commercial banks are able to do, at least in principle.” And: “This is nonsense, Spencer. It amounts to saying that there is no such things as ‘financial intermediation,’ for what you claim never happens is precisely what that expression refers to.”...