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We recommend a small structural exposure to cryptocurrencies and blockchain tokens, given their incipient real-world uses as well as their proven hedging qualities against the debasement of fiat money and in banking crises. In this Special Report, we rank the major blockchains on five factors – developer activity, adoption, decentralization, scalability, and security – from which we arrive at our top five blockchains.

BCA | CoreMacro

BCA’s flagship global macro and investment strategy platform, helping investors anticipate regime shifts, connect signals across regions and asset classes, and navigate the world’s most difficult macro questions.

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