As ultramodern as they may seem, cryptocurrencies and their underlying distributed ledger technology (commonly referred to as the blockchain), represent the intertwined evolution of two prosaic yet fundamental pillars of civilisation: money and accounting. From the earliest issuance of barter tokens, to coins of precious metal, paper notes, then digital strings of ones and zeros – and the single and double-entry ledger accounting methods used to record transactions and ownership by trading houses and the first banks – one feature of these two pillars has been ubiquitous and constant: centralisation.
|Number of pages||7|
|Specialist publication||AQ (Australian Quarterly)|
|Publication status||Published - Jan 2018|