Juan Orbea

A good example of the latter type of decentralization is Bitcoin. Other than the consensus protocol itself, there are no formal governance rules existing among mining nodes, non-mining nodes, users, exchanges and core developers, but these groups all have different kinds of influence over Bitcoin and essentially govern Bitcoin on an emergent basis... See more

You might well ask yourself the same question before diving into an article as long as this one. The answer is that we all depend heavily on wires, but we hardly ever think about them. Before learning about FLAG, I knew that data packets could get from America to Asia or the Middle East, but I had no idea how. I knew that it had something to do... See more

Bill Browder, MBA '89, founder and CEO, talks about Hermitage Capital Management's investments in Russia and the fall out from the widespread corruption that still pervades Russia's economy.

A popular misunderstanding of smart contract technology is that smart contracts work “automatically” without human intervention. Smart contracts are just passive object code stored on the blockchain. This code is called by miners/validators when users request it to be called by offering to pay miners for making such calls. In other words, smart... See more

I don't think of this as an affront to the idea that "no one can predict the future." It is, instead, a statement of belief. You're putting your capital and resources behind a future you believe in. Will Bezos' 2,300% internet growth be long-term? Or more volatile, like OpenSea's NFT volumes?

In this policy paper, authors Austin Vernon and Eli Dourado explore what life would be like with endless energy. Coining the term “energy superabundance,” they look at energy policy, not in the usual sense of trying to restrict energy consumption, but as a way to promote energy abundance—a future in which energy is so clean and plentiful, limiting... See more

Abject poverty (living with less than $1.9/day) was cut by 50% from 2000-2012, lifting +1B people above this threshold. This is the biggest economic miracle in the history of humankind.