BEST OF THE BEST THE GUARDIAN: Even if central banks eventually issue a state-backed digital currency, Nouriel Roubini believes they will have
nothing to do with blockchain technology.
In a new op-ed article published on the Guardian, Roubini – a well-known crypto skeptic sometimes nicknamed "Dr. Doom" – argued that the issuance of a central bank digital currency might change the current two-tier monetary system. But that doesn't mean it will come anywhere close to a decentralized system.
"After all, central banks already have a centralised permissioned private non-distributed ledger that allows for payments and transactions to be facilitated safely and seamlessly. No central banker in his or her right mind would ever swap out that sound system for one based on blockchain," he wrote.
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THE OBSERVER: Blockchain technology could be
a threat to white-collar workers in middle management, according to a piece in The Observer.
For decades, middle managers have been key to the operational flow of many American corporations at a functional, day-to-day level. Their responsibilities vary but generally include ensuring performance and quality, managing compensation, and serving as a facilitator.
But now, with smart contracts on blockchain playing the role of trusted facilitator between two parties, it could mean the end of the middle manager.
The smart contract also offers an efficiency nearly impossible to match with human effort, especially when verifying for quality, the article adds.
NATURE: Quantum computing processes may leave
blockchains vulnerable to editing by breaking the cryptography used to secure data stored on the platforms, a study published in Nature claims.
A team of researchers with the Russian Quantum Center in Moscow say quantum computing will be able to crack a user's digital signature, possibly making it easy to steal funds from individuals.
That being said, there are ways to improve existing cryptographic protocols to make them "quantum-safe," the team continued. Classical digital signatures can therefore be replaced with "quantum cryptography" to encrypt future peer-to-peer communications and transactions.
