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With its strong technology, customer relationship management, content and brands, we view 888 as a highly attractive and scarce asset … in a rapidly consolidating industry, 888 may not be large enough to compete effectively".
The rapid growth of electromagnetic radio-spectrum use has made this natural resource a rather scarce asset for different wireless networks deployed in overlapping areas.
It means the same technology and principles of Bitcoin, which is a scarce asset that most closely represents money or gold, can be applied.
The innovation that enables this feature is a transparent, distributed ledger called the blockchain, and a consensus mechanism that requires a real world scarce asset, electricity, to be spent to validate legitimate transactions.
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If that happens, economists will stop worrying about scarce assets and start fretting about scarce capital.
Besides empowering digital currencies, blockchain technology has given innovators the capability of creating digital tokens to represent scarce assets, potentially reshaping the landscape of entrepreneurship and innovation.
Cows, goats, sheep, pigs and poultry are scarce assets for these people, bringing in regular household income, and can be sold in emergencies to pay for school or medical fees.
They are unusually resourceful in being relatively undeterred by scarce assets in pursuing their social ventures.
Then again, it may be very important indeed: The credit crisis started with a housing bubble, and what is a housing bubble but a series of ever-rising prices for scarce assets of unknown value all paid for on credit?
Then again, it may be very important indeed: The credit crisis started with a housing bubble, and what is a housing bubble but a series of ever-rising prices for scarce assets of unknown value--all paid for on credit?
Writ large, this system represents an extraordinarily regressive tax--a transfer of scarce assets from poor communities to government institutions and commercial interests.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com