Most recent Articles

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...

Why We Shouldn’t Listen To Warren Buffet

Published 9th May, 2018 on and and

and by Andrea Bianconi


There has been a time when a saying was popular on Wall Street: “when Warren Buffet speaks, you listen.” Now Wall Street is better not to listen, if they do not want to become history faster than Kodak or Blockbuster.

The media are going mad reporting the latest senseless rants from Warren Buffet, Munger and Bill Gates, just to name the last few. The usual barrage of senseless observations, wrong assumptions, popular, but wrong and ignorant distinctions between....

The calm before the storm

Published 8th May, 2018 on and

by Andrea Bianconi


The coming crackdown on ICOs


In the last two weeks there have been a couple of events worth noticing.  The first went by almost unnoticed and did not spark the interest and comments that it should have.  The second just happened on May 3rd and will probably start raising some attention in the next few days if and when people will digest its implications.


The first event is the speech made by former CFTC Chairman Gary Gensler at the MIT Technology Review Business of Blockchain on April 23.  Gensler backed the SEC stance on ICOs saying that .....


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