Opinion | What Is the Real Purpose of Cryptocurrency? - The Wall Street Journal

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https://www.wsj.com/articles/crypto-currency-real-purpose-services-crime-11672684082
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The underlying purpose of cryptocurrencies is to pay for the security and services (such as smart-contract execution) rendered by a decentralized network (“

Crypto Is Money Without a Purpose” by Todd Baker, op-ed, Dec. 20). Those services can be compensated only in a digital-native currency that is outside the control of single actors such as central banks and governments. There is speculation, as is the case in any emerging market, and there is room for smart regulation of centralized exchanges, but that is no excuse for Mr. Baker’s complete misunderstanding of the innovation.

Jeremy Epstein
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This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com.

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