Hey, everyone, welcome back to the What is Money Show.

I am sitting down again today with the man himself, Belaji.

Belaji, welcome back.

Great to be here, Robert. Good to see you again.

Good to see you as well. Thank you for getting up early in doing this.

So we covered a whole gamut of geopolitics in our previous discussions.

And what I thought would be useful today is to just unpack this piece you wrote in 2017

titled Quantifying Decentralization.

Because this is, you know, this is the very often used term in the world of Bitcoin and

crypto assets, but I think it's an extremely dense term that not

many people understand or really think through.

And your piece, you know, you've made a great effort to actually unpack it and go through

it.

So I think it's important for people to give it more thought than just think in these

binaries of centralization, decentralization.

Clearly, there's many gradients between the two.

So, you know, you've basically proposed this minimum Nakamoto coefficient for what you call is basically a simple quantitative measure

of a system's decentralization, which was motivated by the better known Ginny coefficient

or the Lauren's curve. So, and just for the audiences sake here,, the genie coefficient is a measure of statistical

dispersion intended to represent the income inequality or the wealth inequality within a nation

or group. The Lawrence curve is sort of similar, using economics. It's a graphical representation

of the distribution of income or of wealth.

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