The purpose of blockchains is to establish unchangeable records of digital assets without any trusted party. "Unchangeable" sounds good to prevent fraud, so some county recorders who seem to understand nothing about the law or technology, like Cook County's Karen Yarbrough, who thought blockchain made sense for government deed records, try to force blockchains onto physical property. But even on its face, this application of blockchains makes zero sense and only exists to appeal to the unwitti...
Why is Inflation High?
February 10, 2022Nobody likes inflation, but it is occurring. As of February 2022, the US has seen 7.5% inflation over the past year, as judged by the Bureau of Labor Statistics's Consumer Price Index. This is the highest it's been since the early 1980s recession. This means that the average consumer is spending 7.5% more money overall for the same things now than they were this time last year. Not everything has gone up 7.5%—some things like dairy, medical care, alcohol, housing, mechanics, and air fare haven...