DOES A MEDIUM OF EXCHANGE ENTAIL PROOF OF WORK? MARK CARNEY PROPOSES SHC - PRE-MINED CENTRALISED BLOCKCHAIN!
A foreword. Money in order to work, require proof of work. The above is an example of Wampum, a primitive medium of exchange that served as a primitive currency until gold took over. What proof of work means, is that energy had been expended to create a valuable object. This object can be material and newly digital. Welcome in the age of Bitcoin, the way Satoshi Nakamoto envisioned.