We recently examined the structural misunderstandings of cryptocurrencies that were expressed in a blog post by one of New Zealand’s largest banks ASB). However, it seems that this misunderstanding of cryptocurrencies, blockchain technologies, and the power dynamic between them and traditional power structures is endemic throughout the entire global financial system. Bloomberg just released a piece from its editorial board, revealing their own limited knowledge in this area.
Since Bloomberg is the largest financial news site in the world, I hold them to a much higher standard than that applied to most other news organizations. The fact is that their editorial board should know better. And, given the influence they exert over their massive audience, I feel that it’s important to address their arguments and correct the record.
Read the full story below