"Accounting controls" has to be way, way up there on the list of "systemically important technologies that almost no one would say One Of The Most Important Things Ever Invented." This is about 60% of the reason why Bitcoin exchanges keep blowing up while everyone looks on.
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Anecdotally, I know of several people in my peer group who believe this. Most have MBAs and gained that belief in their MBA program, a few have history/poli sci degrees heavily focused on the history of institutions.
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One of the best Dungeons and Dragons one-off plot summaries I ever saw involved players retrieving the ancient secret of double-entry bookkeeping.
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This is kind of why the old finance geezers like
@matt_levine are watching crypto with bemusement while all the old lessons are relearned in internet speed.Thanks. Twitter will use this to make your timeline better. UndoUndo
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And none of them would mention decimal arithmetic. Europe owes a huge debt to Fibonacci for bringing it west.
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