Bankless The Power of Property Rights with Hernando De Soto
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Nov 30, 2023 Hernando De Soto, a prominent Peruvian economist renowned for his insights on property rights, dives deep into the connection between property rights and economic prosperity. He discusses the historical evolution of property rights and their vital role in capitalism. De Soto highlights how tokenization and blockchain could revolutionize asset ownership and empower underserved communities globally. He also contrasts property systems in developed and developing countries, emphasizing the need for effective documentation and identity in modern economies.
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Crypto and Property Rights
- Property rights are the foundation of crypto, enabling ownership and value exchange.
- Crypto, like Bitcoin and Ethereum, acts as a decentralized property registry, independent of traditional systems.
US Property Rights History
- Early American settlers used various methods to establish land ownership, including preemption acts based on improvements like corn planting or cabin building.
- These acts, culminating in the Homestead Act, aimed to formalize property rights as the nation expanded westward.
Property Rights as Coordination
- Property rights are a form of human coordination, similar to the evolution of money and identity.
- Ledgers, initially used for accounting assets, evolved into tools for managing property rights, starting with land.
