Why Profitable Businesses Run Out of Money
Profit and cash are different things, and the difference is what closes otherwise healthy companies.
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7 posts
Profit and cash are different things, and the difference is what closes otherwise healthy companies.
Companies and a few governments hold it as a reserve. The results have been volatile in both directions.
After several cycles of collapse, a small set of applications kept working. They are not the ones that got the attention.
The original use case was buying things. Almost nobody does, and the reasons are structural rather than temporary.
Putting bonds and funds on a blockchain sounds like a solution looking for a problem. In settlement, it is not.
Dozens of countries are developing them. The design decisions matter far more than the technology.
Neither replacing the financial system nor disappearing. Something narrower and more boring than either prediction.