Please note: This post is also on Substack.* * * Oligarchy is a very old system of governance and one we have never really escaped. More than 2,000 years ago, Aristotle stated that oligarchy (oligarchia) becomes the governance system “when men of property have government in their hands.” Today, we define “oligarchy” as “government by the few, especially despotic…

Payments will run on the bank’s proprietary blockchain and be routed automatically through its existing client interface. Wells Fargo (WFC) will offer tokenized deposits for select corporate and commercial clients later this year, starting with enabling round-the-clock U.S. dollar-to-British pound transactions on its proprietary blockchain. The bank frames round-the-clock settlement, programmable payments and parity with its…