Bitcoin also demonstrates how decentralisation and localism, though not quite the same, can complement one another well in an interconnected planet. Imagine a world where governance is largely occurring at a local level, but global trade remains desirable. You’d want a politically neutral, decentralised and permissionless money to conduct such transactions. Similarly, a free and decentralised internet allows the same sort of thing in the realm of communications. Regions that can’t grow coffee will still want coffee, and people in New York will still want to chat with people in Barcelona. Decentralised systems allow for the best of both worlds — localism combined with continued global interconnectedness.
The European Investment Bank plans to harness the power of blockchain to sell bonds, potentially boosting use of the digital-ledger technology as a tool for the region’s debt market.
The European Union’s investment arm hired Goldman Sachs Group Inc., Banco Santander SA and Societe Generale AG to explore a so-called digital bond in euros, which would be registered and settled using blockchain, according to information from a person familiar with the matter, who asked not to be identified because they’re not authorized to speak about it.