Summary of The Big Blockchain Lie

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Known as “Dr. Doom” for his voice-in-the-wilderness prediction in 2006 of an impending housing market collapse and financial crisis, professor Nouriel Roubini now sets his sights on a new area of financial concern: blockchain. He posits not only that digital currencies are financial losers but that blockchain itself is an essentially worthless architecture. He dissects the technology and questions its efficacy in finance, health care and other areas. Roubini’s provocative take will leave investors, analysts and curious readers armed with a whole new perspective.

About the Author

Nouriel Roubini is a professor at New York University’s Stern School of Business and the CEO of Roubini Macro Associates.

 

Summary

Depending on your viewpoint, blockchain and the cryptocurrencies stemming from the distributed ledger design are either the next transformative technology or will soon vanish into the junkyard of failed enterprises.

In 2018, investors long in digital currencies have taken a beating, with high-profile names such as Ether, EOS, Litecoin and XRP giving up more than 80% of their valuations. Second- and third-tier cryptocurrencies have fared even worse, falling between 90% and 99%. Moreover, 80% of initial coin offerings are frauds. Against this backdrop, proponents...


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