Most recent Articles

Can the EU still win the tokenization race?

Published 23rd November 2018 on and and


Just one year ago - at the top of the ICO mania - the EU was well positioned in the race towards crypto use and blockchain/DLTs adoption. When regulators around the world, led by the US, started cracking down on ICOs and crypto markets, the EU took a bit of a "laissez faire" attitude. In hindsight this was good since - despite the initial worries - the damages were very much contained and there was a substantial growth of new businesses and investments in the sector.


And whether this was due to the slow reaction of EU regulators to new developments or - rather - a voluntary policy stance, is anyone´s guess.  The result was however positive, specially when compared with blatantly wrong and highly damaging regulatory interventions - such as the NY BitLicense.


Anyways, that was last year in cryptoworld - which is more like 10 years in a traditional sector. Today we face a radically new situation...


The latest on security tokens from Zurich´s Cryptosummit

Published 6th November 2018 on and and


One of the key events of the year took place last week in Zurich´s "Crypto Valley". The Cryptosummit was - for me - both engaging and stimulating because the broad focus and main topic of it was the tokenization of securities, which is where - with Untitled-INC - I am more involved.

Among the high level speakers were ConsenSys Joseph Lubin in video streaming, Charles Hoskinson, CoinDesk´s Michael Casey, VC investor Jalak Jobanputra, Outlier Venture´s Jamie Burke and many other top businesspeople.

Of course, with such a packed agenda and thought-provoking panels running simultaneously on 3 stages, I had to make a choice and follow only those which were - for me at least - the most compelling. Most certainly I have missed interesting stuff, but the following were for me the key "take-aways" from the event...


Use the Blockchain and token-economics to fix privatizations

Published 25th September on and and


When I wrote this article about the dramatic collapse of the Morandi Highway Bridge in Genoa, I did it out of anger.  Though it was clear to me that the roots of this tragic event were to be found in the wrong privatization model and its wrong incentives, I did not yet realize how this was a global issue. In the sense that the discontent and the failures of the privatizations are a worldwide phenomenon, little known, mostly unacknowledged and little debated.  


Indeed a quick web search under the key words "failed privatizations" results in a long list of global failures anywhere from Europe, to Africa, the USA, South America and Asia. This Columbia University paper and this Michael Hudson´s paper "Let us glory in inequality" are worth reading.


The roots of the tragedy of Genoa, and how Blockchain and token-economics can help in the future

Published 22nd August, 2018 on also in Italian and


and (Italian)


Collapsing infrastructures


The dramatic collapse of the "Morandi" highway bridge in Genoa has deeply shaken me.  I was taken by a deep sense of sadness as well as by a growing rage.


How could this happen?


I started searching for information about Atlantia SpA, the private company which holds the concession to the Italian highways which  ....


Why Tokenization is still a Chimera

Published 31st July, 2018 on and and and Italian translation


Tokenization is nothing new


The term "tokenization" is mainly associated with securities, equities and real assets and indicates the creation of a digital token which represents ownership rights to the underlying assets and which is issued on a Blockchain.

But tokenization is per se nothing new. It is an evolution of derivative instruments and securitized assets such ABS.

For instance, the CDOs and MBS at the heart of the 2009 financial crisis were substantially tokens representing debt. The first examples of securitizations go back to the 17th and 18th century.

Despite the promises that I also share about the potential of STOs and ...


Will Bitcoin vindicate Hayek?

Published 29th May, 2018 on and

and by Andrea Bianconi


The creation of money has been effectively in private hands since … well forever. Looking at the modern times — after the creation of the US federal reserve system in 1913 — one of the greatest misconceptions instilled in the masses is the belief that public institutions, such as the US Fed or the ECB, are only expression of public interest and that money creation is the exclusive prerogative of sovereign “nation states”. Although it is so widely purported — or simply conveniently led to believe — the truth is rather different.

Indeed, in addition to the fractional-reserve banking — which enables commercial banks to create...

© 2017-2018 Andrea Bianconi - All Rights Reserved

Please note that all the material published on this web site is protected by applicable copyright laws. You may copy, reproduce or repost my articles on the condition that the author and the source of the article is properly mentioned/quoted and linked.