For our upcoming book, we’ve been exploring the history surrounding the founding of the Bank of England, often referred to as a "revolution bank" by contemporary commentators.
What stands out to me are the striking parallels between this monumental project and the development of Ethereum. Both embody a blend of meticulous planning and inherent hubris. Despite the founders' well-meaning intentions, the reality often strays far from their original vision—true for both the BoE and Ethereum.
Just as the BoE became the blueprint for central banks across the globe, Ethereum has inspired a vast ecosystem of crypto networks.
One might argue that Ethereum is the modern-day equivalent of the BoE—a project aimed at creating and steering “optimal” monetary systems, yet accompanied by unintended consequences and interventions.
From a high-level perspective, I would categorize the systems as follows:
Central banking, as seen with institutions like the BoE, revolves around creating money, controlled by a select few—the "high priests" of fiat currency.
Platforms like Ethereum democratize money creation, making it accessible to a wider group (though it still concentrates power in certain hands, it’s arguably more open than the traditional central bank model).
Bitcoin represents the attempt to remove human control over money altogether—designed to prevent anyone from arbitrarily creating currency.
There will be a more detailed post on how Ethereum resembles the BoE.
Also, thanks to preston (npub1s5y…6q7z) for agreeing to take a look at our book and support us with his knowledge on the various Bitcoin topics🙏
pahueg / Pascal Hügli
npub1qh…n04l8
2024-09-05 05:55:25
Author Public Key
npub1qhx7lnggpv64f0wt5xyjj7h90qh5ewu35pspr66sj8alc4gvcfjqqn04l8Published at
2024-09-05 05:55:25Event JSON
{
"id": "46ce070d2228e14e64c2552953ac05cd0399ca7fc163116f10aa2da8d302e00e",
"pubkey": "05cdefcd080b3554bdcba189297ae5782f4cbb91a06011eb5091fbfc550cc264",
"created_at": 1725515725,
"kind": 1,
"tags": [
[
"p",
"85080d3bad70ccdcd7f74c29a44f55bb85cbcd3dd0cbb957da1d215bdb931204",
"",
"mention"
]
],
"content": "For our upcoming book, we’ve been exploring the history surrounding the founding of the Bank of England, often referred to as a \"revolution bank\" by contemporary commentators.\n\nWhat stands out to me are the striking parallels between this monumental project and the development of Ethereum. Both embody a blend of meticulous planning and inherent hubris. Despite the founders' well-meaning intentions, the reality often strays far from their original vision—true for both the BoE and Ethereum.\n\nJust as the BoE became the blueprint for central banks across the globe, Ethereum has inspired a vast ecosystem of crypto networks.\n\nOne might argue that Ethereum is the modern-day equivalent of the BoE—a project aimed at creating and steering “optimal” monetary systems, yet accompanied by unintended consequences and interventions.\n\nFrom a high-level perspective, I would categorize the systems as follows:\n\nCentral banking, as seen with institutions like the BoE, revolves around creating money, controlled by a select few—the \"high priests\" of fiat currency.\nPlatforms like Ethereum democratize money creation, making it accessible to a wider group (though it still concentrates power in certain hands, it’s arguably more open than the traditional central bank model).\nBitcoin represents the attempt to remove human control over money altogether—designed to prevent anyone from arbitrarily creating currency.\n\nThere will be a more detailed post on how Ethereum resembles the BoE.\n\nAlso, thanks to nostr:npub1s5yq6wadwrxde4lhfs56gn64hwzuhnfa6r9mj476r5s4hkunzgzqrs6q7z for agreeing to take a look at our book and support us with his knowledge on the various Bitcoin topics🙏",
"sig": "801f846c2800996cfca8f75e7b2e9572e98dbb4ad61df7f982423f62882fa807a56c077f06a9a9232bb380287a144c38b50586ef102385f52b2fe1233f666eea"
}