Modern life involves a lot of trust. We assume that we can trust the systems we use because doing so makes life much easier than not trusting them. The 2008 financial crisis caused huge and lasting damage to a lot of people's trust in the banking system. Even if your bank has an absolutely unblemished record of keeping track of your money, that might not be good enough for you. Your bank is, to you, a black box. How do I know you'll give me my money back? Section 1, distrust. There are banks you can't trust to hold your money for you and places where you can’t trust the rule of law to regulate them. Part B,
Listen to an audio excerpt from this week's special issue of Businessweek magazine, where finance columnist Matt Levine uses the full issue to explain where crypto came from, what it all means, and why it still matters.
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