At Announcement
- Funding: $423,540.00
-
Investigators:
- Prof Jason Potts (CI)
- Prof Sinclair Davidson (CI)
- Dr Christopher Berg (CI)
-
Organisations:
- RMIT University
The research:
Public Finance and Cryptocurrencies. This project aims to analyse the impact of cryptocurrency technology on taxation and the provision of public goods in Australia. The project will identify the historical relationship between money technologies and public finance, examine the impact of cryptocurrencies in relation to the modern state, and investigate the potential of utilising cryptocurrencies in the provision of public goods. The outcomes of the research will expand theoretical and practical understanding of public finance in a world of cryptocurrencies. The project findings will provide guidance to Australian and international policymakers to prepare for potential disruptions to taxation and public goods provision.Hey, Federal government, I can tell you what the conclusions of this troika will be before you pay a cent:
* Cryptocurrencies are great, cool, disruptive things and we really like them (because they have the potential to make governments collecting tax even harder);
* Our government should lead the way in facilitating the adoption of cryptocurrencies as soon as possible, because that way, it makes our waffly research look important.
Now send me $200,000 (not in Bitcoin, thanks), and you're $223,540 ahead.
Update: I have altered the heading to the post, because I don't know how such research funding works. I would presume it may involve economics minions (post grad students?) being paid to do some work for the report, and travel or some such, so I don't know if the troika personally make money from it.
These guys are always rabbiting on about the wonderful outcomes that will supposedly follow the adoption of the blockchain. Yet they can never really articulate why the rest of us should be so excited about this stuff. Potts seemed like a pretty good economist when I would listen to him 14 years ago. Quite impressed with him back then. But I'm dicey about the company he's keeping.
ReplyDeleteThe whole thing smells a bit. It sounds like there may be a rich sponsor who is up to no good with this technology. Else they would spit it out what the technology may be so good for? I can see how it would be good if instead of bitcoin they could start a wealth-producing currency based around 100% backed silver. Something of this sort. But so far its these guys hyping stuff for unknown reasons.
I think this is a terrible waste of money. I agree with your assessment this one time. Chris and Sinclair were notable for their tribal contempt of making stuff. Manufacturing. They try and make out that this is a secondary undertaking. As opposed to the heart of wealth creation.