The Chain

A concise post-mortem on The Chain series, a deep dive on the creation of the Bitcoin-Dollar system which names the names and explains the technology upholding the deflationary and highly-surveillable digital financial system fast approaching.

While Facebook’s Libra seemed to fail, it set the stage for stablecoin regulation. The finale of The Chain traces how Libra, the 2023 bank failures and the Gillibrand-Lummis bill realized PayPal’s founding goal of a “new world currency.”

While often pitched as decentralized, the key infrastructure upholding consensus on Ethereum has been dollarized by stablecoin issuers. These same entities, in addition to the currency speculators behind Block.One, were willing partners in the set up and take down of Terra-LUNA and FTX.

The patent hoarding developers and investors associated with PayPal and Google who built the first iteration of e-commerce and digital advertising have turned to the blockchain to fulfill their vision of total financial surveillance and the circumnavigation of government-issued money.

Endeavor, a self-described “mafia” multiplier backed by Bronfman, Omidyar and Hoffman, groomed the founders who dominate Latin American fintech, including Xapo’s Wences Casares, who helped build the Bitcoin-Dollar system with advisers like Larry Summers.