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Charles Calomiris on FinTech

Policy@McCombs

CHAPTER

Is Bitcoin the First Real Technology?

Bitcoin is an acute innovation that solves a particular problem, but that is mainly held by speculative people. People don't want to hold thousands of dollars indefinitely in something that's crazy like that. So as the first mover and having set up a network that can achieve things like that venezualan transaction, it has value - even though it has no intrinsic value. But that's going to go away once stable coin network comes into play.

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