A recent study has voiced the opinion that reversible transactions on a blockchain are a good idea as a way to combat hacking. Unfortunately, this is a simplistic worldview. The reality is that being able to roll back blockchain activity has unintended side effects that end up harming people not even involved in the hack. Let's discuss!
News and Links
https://www.cnet.com/culture/internet/kim-kardashian-pays-1-2m-to-settle-crypto-instagram-ad-charges
The United Nations calls on the Fed and other central banks to halt interest rate increases - WSJ
Inflation hits 83% in Turkey, a new 24-year high
IMF Managing Director Says the Fed has "High Responsibility"
US national debt surpasses $31 trillion for the first time ever
European Union bans all #crypto assets, accounts, and custody services belonging to Russians.
California will be sending out $1,050 stimulus payments to qualifying residents to combat inflation
Tunisia Raises Rates to Highest Level in 30 years to Combat Inflation
https://twitter.com/nytimes/status/1578437514372829192
https://cointelegraph.com/news/reversible-transactions-could-mitigate-crypto-theft-researchers
October 9, 2022 Weekly Close (USD)
BTC - $18,446.43
ETH - $1,322.60
ADA - $0.423072
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I can be reached by email at [email protected] and on twitter at @McIntoshFinTech. My mastodon handle is @[email protected]. I'm also on matrix at @mcintosh1775:matrix.org. Looking forward to hearing from you!
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