An Excerpt From Bitcoin Circular Economies: Prologue

We are living through the change of an era, where the old one is still dying and the new one is still being born. We are living through the end of the industrial era, when prosperity came mainly from factories and the cities that fed them with workers. States played an essential role there, providing access to raw materials for the factories, guaranteeing trade routes and infrastructure for their goods and keeping the workers’ movement in check. In return, the factories, thanks to their scale of production, supplied the markets and could afford to pay the states their dues in the form of taxes.

We are now in the middle of the transition to the information age, where scale no…

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