{"id":54,"date":"2021-03-07T21:22:14","date_gmt":"2021-03-07T21:22:14","guid":{"rendered":"http:\/\/subulmagazine.com\/?p=54"},"modified":"2022-10-02T16:02:50","modified_gmt":"2022-10-02T13:02:50","slug":"%d8%a7%d9%84%d8%a8%d8%aa%d9%83%d9%88%d9%8a%d9%86-%d9%88%d8%a5%d8%b9%d8%a7%d8%af%d8%a9-%d8%aa%d8%b9%d8%b1%d9%8a%d9%81-%d8%a7%d9%84%d9%85%d8%a7%d9%84-%d9%81%d9%8a-%d8%b9%d8%b5%d8%b1-%d8%a7%d9%84%d8%ad","status":"publish","type":"post","link":"https:\/\/subulmagazine.com\/?p=54","title":{"rendered":"\u0627\u0644\u0628\u062a\u0643\u0648\u064a\u0646 \u0648\u0625\u0639\u0627\u062f\u0629 \u062a\u0639\u0631\u064a\u0641 \u0627\u0644\u0645\u0627\u0644 \u0641\u064a \u0639\u0635\u0631 \u0627\u0644\u062d\u062f\u0627\u062b\u0629"},"content":{"rendered":"<style>\np,h1,h2,h3{line-height:40px;text-align:justify;text-justify:inter-word;}<br \/>h2{color:#2D3092}<br \/>h6{font-size:20px}<br \/>.centerb{<br \/>display: block;<br \/>margin-left: auto;<br \/>margin-right: auto;<br \/>width: 50%;}<br 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\u0623\u062c\u0644 \u0636\u0645\u0627\u0646 \u0627\u0633\u062a\u0631\u062f\u0627\u062f\u0647\u0627. \u0644\u0643\u0646 \u0628\u0645\u0631\u0648\u0631 \u0627\u0644\u0648\u0642\u062a \u064a\u062f\u062e\u0644 \u0627\u0644\u0627\u0642\u062a\u0635\u0627\u062f \u0641\u064a \u062d\u0627\u0644\u0629 \u0631\u0643\u0648\u062f Recession \u0648\u0647\u0630\u0627 \u0645\u0627 \u064a\u0633\u0645\u0649 \u0641\u064a \u0627\u0644\u0627\u0642\u062a\u0635\u0627\u062f \u0628\u0627\u0644\u062f\u0648\u0631\u0629 \u0627\u0644\u0627\u0642\u062a\u0635\u0627\u062f\u064a\u0629 The economic cycle.<\/p>\n<h6 style=\"text-align: center; font-size: 10px; color: gray;\">\u0627\u0644\u062f\u0648\u0631\u0629 \u0627\u0644\u0627\u0642\u062a\u0635\u0627\u062f\u064a\u0629. \u0627\u0644\u0645\u0635\u062f\u0631: corporatefinanceinstitute.com<\/h6>\n<p><img decoding=\"async\" class=\"centerb aligncenter\" src=\"http:\/\/subulmagazine.com\/wp-content\/uploads\/2021\/04\/image_2021-04-20_02-22-12.png\" alt=\"Economic cycle\" \/><\/p>\n<p>\u0643\u0645\u0627 \u064a\u0638\u0647\u0631 \u0641\u064a \u0647\u0630\u0627 \u0627\u0644\u0631\u0633\u0645 \u0627\u0644\u0641\u0631\u0636\u064a\u0629 \u0627\u0644\u0631\u0626\u064a\u0633\u064a\u0629 \u0647\u0646\u0627 \u0623\u0646 \u0627\u0644\u0631\u0643\u0648\u062f \u0647\u0648 \u062c\u0632\u0621 \u0623\u0633\u0627\u0633\u064a \u0645\u0646 \u0627\u0644\u0646\u0645\u0648 \u0627\u0644\u0627\u0642\u062a\u0635\u0627\u062f\u064a \u064a\u0645\u0643\u0646 \u0627\u062d\u062a\u0648\u0627\u0624\u0647 \u0641\u064a \u0641\u062a\u0631\u0629 \u0632\u0645\u0646\u064a\u0629 \u0645\u0639\u064a\u0646\u0629 \u0639\u0646 \u0637\u0631\u064a\u0642 \u0645\u062d\u0641\u0632\u0627\u062a \u0648\u062d\u0644\u0648\u0644 \u0645\u0624\u0642\u062a\u0629 \u062d\u062a\u0649 \u064a\u0633\u062a\u0623\u0646\u0641 \u0627\u0644\u0627\u0642\u062a\u0635\u0627\u062f \u0627\u0644\u0646\u0645\u0648 \u0645\u0631\u0629 \u0623\u062e\u0631\u0649.<\/p>\n<p>\u0647\u0630\u0647 \u0627\u0644\u0646\u0638\u0631\u0629 \u0644\u0644\u0627\u0642\u062a\u0635\u0627\u062f \u0627\u0644\u0645\u062f\u0641\u0648\u0639 \u0628\u0639\u0645\u0644\u064a\u0627\u062a \u0627\u0633\u062a\u062f\u0627\u0646\u0629 \u0645\u0646 \u0631\u0623\u0633 \u0647\u0631\u0645 \u0627\u0644\u0645\u062c\u062a\u0645\u0639 \u0625\u0644\u0649 \u0642\u0627\u0639\u062f\u062a\u0647 \u062a\u0639\u064a\u062f \u062a\u0634\u0643\u064a\u0644 \u0627\u0644\u0645\u062c\u062a\u0645\u0639 \u0648\u062a\u0639\u0631\u0641 \u0623\u062f\u0648\u0627\u0631\u0647. \u0641\u0644\u0627 \u064a\u0645\u0643\u0646 \u062a\u062e\u064a\u0644 \u0627\u0633\u062a\u0642\u0631\u0627\u0631 \u0647\u0630\u0647 \u0627\u0644\u0645\u0646\u0638\u0648\u0645\u0629 \u0627\u0644\u0627\u0642\u062a\u0635\u0627\u062f\u064a\u0629 \u0628\u062f\u0648\u0646 \u0639\u0645\u0644\u064a\u0627\u062a \u0627\u0633\u062a\u0647\u0644\u0627\u0643 \u0634\u0631\u0647 \u0639\u0644\u0649 \u0627\u0644\u0645\u0633\u062a\u0648\u0649 \u0627\u0644\u0641\u0631\u062f\u064a\u060c \u0648\u0643\u0630\u0644\u0643 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\u0644\u0644\u0642\u064a\u0645\u0629\u060c \u0625\u0644\u0649 \u0648\u0633\u064a\u0637 \u0644\u0644\u062a\u0628\u0627\u062f\u0644 \u0648\u0645\u062e\u0632\u0646 \u0633\u064a\u0621 \u0644\u0644\u0642\u064a\u0645\u0629 (\u0627\u0644\u0642\u0648\u0629 \u0627\u0644\u0634\u0631\u0627\u0626\u064a\u0629 \u0644\u0644\u062f\u0648\u0644\u0627\u0631 \u0623\u0643\u062b\u0631 \u0639\u0645\u0644\u0629 \u0645\u0647\u064a\u0645\u0646\u0629 \u062a\u0642\u0644 \u0628\u0645\u0639\u062f\u0644 \u062d\u0648\u0627\u0644\u064a 2\u066a \u0643\u0644 \u0639\u0627\u0645)\u060c \u0648\u0648\u0642\u0648\u062f \u0644\u0639\u0645\u0644\u064a\u0629 \u0627\u0644\u0627\u0633\u062a\u062f\u0627\u0646\u0629 \u0627\u0644\u0642\u0627\u0626\u0645 \u0639\u0644\u064a\u0647\u0627 \u0627\u0644\u0627\u0642\u062a\u0635\u0627\u062f. \u0625\u0630\u0627\u064b \u0644\u0645 \u062a\u0639\u062f \u0627\u0644\u0646\u062f\u0631\u0629 \u062e\u0635\u064a\u0635\u0629 \u0623\u0633\u0627\u0633\u064a\u0629 \u0645\u0646 \u062e\u0635\u0627\u0626\u0635 \u0627\u0644\u0645\u0627\u0644.<\/p>\n<p>\u0631\u0627\u0643\u0645\u062a \u0627\u0644\u0645\u0646\u0638\u0648\u0645\u0629 \u0627\u0644\u0627\u0642\u062a\u0635\u0627\u062f\u064a\u0629 \u0642\u0648\u0649 \u0648\u0642\u062f\u0631\u0627\u062a \u0639\u0627\u0644\u064a\u0629 \u0644\u0644\u062f\u0648\u0644 \u0627\u0644\u063a\u0631\u0628\u064a\u0629 \u0627\u0644\u0643\u0628\u0631\u0649. \u0643\u0645\u0627 \u062c\u0627\u0621\u062a \u0645\u0639\u0647\u0627 \u0623\u0632\u0645\u0627\u062a \u0627\u0642\u062a\u0635\u0627\u062f\u064a\u0629 \u0645\u062b\u0644 \u0627\u0644\u0643\u0633\u0627\u062f \u0627\u0644\u0643\u0628\u064a\u0631 The Great Depression 1929\u060c \u0648\u0623\u0632\u0645\u0629 \u0627\u0644\u0631\u0647\u0646 \u0627\u0644\u0639\u0642\u0627\u0631\u064a 2008 \u0648\u063a\u064a\u0631\u0647\u0627 \u0645\u0646 \u0627\u0644\u0623\u0632\u0645\u0627\u062a. \u0628\u0627\u0644\u0625\u0636\u0627\u0641\u0629 \u0625\u0644\u0649 \u0639\u062f\u0645 \u0627\u0644\u0645\u0633\u0627\u0648\u0627\u0629 \u0648\u062a\u0641\u0627\u0648\u062a \u0641\u064a \u0645\u0633\u062a\u0648\u064a\u0627\u062a \u0627\u0644\u0645\u0639\u064a\u0634\u0629. \u064a\u0645\u062a\u0644\u0643 1\u066a \u0645\u0646 \u0633\u0643\u0627\u0646 \u0627\u0644\u0623\u0631\u0636 44\u066a \u0645\u0646 \u062b\u0631\u0648\u0627\u062a\u0647\u0627. \u0647\u0630\u0647 \u0627\u0644\u0623\u0632\u0645\u0627\u062a \u0648\u0647\u0630\u0627 \u0627\u0644\u062a\u0641\u0627\u0648\u062a \u062c\u0639\u0644 \u0639\u062f\u0645 \u0627\u0644\u062b\u0642\u0629 \u0641\u064a \u0627\u0644\u0645\u0627\u0644 \u0627\u0644\u062c\u062f\u064a\u062f \u064a\u0632\u062f\u0627\u062f\u060c \u0643\u0645\u0627 \u0639\u0632\u0632 \u0627\u0644\u0646\u0638\u0631\u0629 \u0627\u0644\u062a\u0642\u0644\u064a\u062f\u064a\u0629 \u0644\u0644\u0645\u0627\u0644 \u0648\u0647\u064a \u0627\u0644\u0646\u062f\u0631\u0629 \u0648\u0644\u064a\u0633 \u0627\u0644\u0648\u0641\u0631\u0629.<\/p>\n<h2>\u0627\u0644\u0628\u062a\u0643\u0648\u064a\u0646 \u0648\u0627\u0644\u0639\u0648\u062f\u0629 \u0644\u0644\u0623\u0635\u0644<\/h2>\n<p>\u0623\u062e\u0630 \u0627\u0644\u0645\u062c\u062a\u0645\u0639 \u0632\u0645\u0627\u0645 \u0627\u0644\u0645\u0628\u0627\u062f\u0631\u0629 \u0648\u0642\u0631\u0631 \u0627\u0633\u062a\u062e\u062f\u0627\u0645 \u0627\u0644\u062a\u0643\u0646\u0648\u0644\u0648\u062c\u064a\u0627 \u0641\u064a \u0625\u0646\u062a\u0627\u062c \u0634\u0643\u0644 \u062c\u062f\u064a\u062f \u0645\u0646 \u0627\u0644\u0645\u0627\u0644 \u0648\u0641\u0642 \u0645\u0627 \u0627\u0633\u062a\u0642\u0631 \u0641\u064a \u0648\u062c\u062f\u0627\u0646\u0647 \u0639\u0628\u0631 \u0627\u0644\u0639\u0635\u0648\u0631. \u0646\u0648\u0639 \u062c\u062f\u064a\u062f \u0645\u0646 \u0627\u0644\u0645\u0627\u0644 \u064a\u062d\u0645\u0644 \u0623\u0647\u0645 \u062e\u0635\u064a\u0635\u0629 \u0641\u0642\u062f\u0647\u0627 \u0645\u0627\u0644 \u0627\u0644\u064a\u0648\u0645 \u0648\u0647\u064a \u0627\u0644\u0646\u062f\u0631\u0629\u060c \u0628\u0645\u0639\u0646\u0649 \u0639\u062f\u0645 \u0627\u0644\u0642\u062f\u0631\u0629 \u0639\u0644\u0649 \u0625\u0646\u062a\u0627\u062c\u0647 \u0628\u0633\u0647\u0648\u0644\u0629. \u0643\u0627\u0646\u062a \u0645\u0628\u0627\u062f\u0631\u0629 \u0627\u0644\u0645\u062c\u062a\u0645\u0639 \u0639\u0646 \u0637\u0631\u064a\u0642 \u0623\u062d\u062f \u0627\u0644\u0641\u0627\u0639\u0644\u064a\u0646 \u062e\u0627\u0631\u062c \u0625\u0637\u0627\u0631 \u0628\u064f\u0646\u0649 \u0627\u0644\u062d\u062f\u0627\u062b\u0629 \u0627\u0644\u062a\u0642\u0644\u064a\u062f\u064a\u0629\u060c \u0627\u0644\u062f\u0648\u0644\u0629 \u0648\u0627\u0644\u0634\u0631\u0643\u0629\u060c \u0625\u0646\u0647\u0627 \u062d\u0631\u0643\u0629 \u0633\u0627\u064a\u0641\u0631\u0628\u0646\u0643 Cypherpunk \u0627\u0644\u0623\u0646\u0627\u0631\u0643\u064a\u0629.<\/p>\n<p>\u062a\u0631\u0649 \u062d\u0631\u0643\u0629 <strong style=\"font-family: courier new;\">&#8220;<\/strong>\u0633\u0627\u064a\u0641\u0631\u0628\u0646\u0643<strong style=\"font-family: courier new;\">&#8220;<\/strong> \u0623\u0646\u0647 \u064a\u0645\u0643\u0646 \u0644\u0644\u0645\u062c\u062a\u0645\u0639 \u0628\u0627\u0633\u062a\u062e\u062f\u0627\u0645 \u0627\u0644\u062a\u0643\u0646\u0648\u0644\u0648\u062c\u064a\u0627 \u0623\u0646 \u064a\u0646\u0638\u0645 \u0634\u0624\u0648\u0646\u0647 \u0628\u0639\u064a\u062f\u0627\u064b \u0639\u0646 \u0633\u0644\u0637\u0629 \u0627\u0644\u062f\u0648\u0644\u0629\u060c \u0648\u0643\u0630\u0644\u0643 \u064a\u0645\u0643\u0646 \u0625\u062f\u0627\u0631\u0629 \u0641\u0639\u0627\u0644\u064a\u0627\u062a\u0647 \u0627\u0644\u0627\u0642\u062a\u0635\u0627\u062f\u064a\u0629 \u0628\u0639\u064a\u062f\u0627\u064b \u0639\u0646 \u0645\u0624\u0633\u0633\u0629 \u0627\u0644\u0634\u0631\u0643\u0629 Corporation. \u062d\u0644\u0645 \u0627\u0633\u062a\u062e\u062f\u0627\u0645 \u0627\u0644\u062a\u0643\u0646\u0648\u0644\u0648\u062c\u064a\u0627 \u0644\u0644\u062a\u0623\u062b\u064a\u0631 \u0639\u0644\u0649 \u062d\u0631\u0643\u0629 \u0627\u0644\u0645\u062c\u062a\u0645\u0639 \u0628\u062f\u0623 \u0642\u0628\u0644 \u0638\u0647\u0648\u0631 \u062d\u0631\u0643\u0629 \u0633\u0627\u064a\u0641\u0631\u0628\u0646\u0643 \u0628\u0639\u0642\u0648\u062f\u060c \u0644\u0643\u0646\u0647 \u062a\u062c\u0633\u062f \u0641\u064a \u062a\u0648\u062c\u0647 \u0648\u062d\u0631\u0643\u0629 \u0627\u062c\u062a\u0645\u0627\u0639\u064a\u0629 \u0639\u0644\u0649 \u064a\u062f <strong style=\"font-family: courier new;\">&#8220;<\/strong>\u062a\u064a\u0645\u0648\u062b\u064a \u0645\u0627\u064a<strong style=\"font-family: courier new;\">&#8220;<\/strong> Timothy C. May \u0639\u0627\u0645 1988 \u062d\u064a\u0646\u0645\u0627 \u0643\u062a\u0628 \u0645\u0627\u0646\u064a\u0641\u0633\u062a\u0648 \u0627\u0644\u062a\u0634\u0641\u064a\u0631 \u0627\u0644\u0623\u0646\u0627\u0631\u0643\u064a The Crypto Anarchist Manifesto. \u0627\u0633\u062a\u0647\u0644 <strong style=\"font-family: courier new;\">&#8220;<\/strong>\u0645\u0627\u064a<strong style=\"font-family: courier new;\">&#8220;<\/strong> \u0627\u0644\u0645\u0627\u0646\u064a\u0641\u0633\u062a\u0648 \u0628\u0642\u0648\u0644\u0647 <strong style=\"font-family: courier new;\">&#8220;<\/strong>\u0634\u0628\u062d \u064a\u0637\u0627\u0631\u062f \u0627\u0644\u0639\u0627\u0644\u0645 \u0627\u0644\u062d\u062f\u064a\u062b\u060c \u0625\u0646\u0647 \u0634\u0628\u062d \u0627\u0644\u062a\u0634\u0641\u064a\u0631 \u0627\u0644\u0623\u0646\u0627\u0631\u0643\u064a<strong style=\"font-family: courier new;\">&#8220;<\/strong> <strong style=\"font-family: courier new;\">&#8220;<\/strong>A specter is haunting the modern world, the specter of crypto anarchy.<strong style=\"font-family: courier new;\">&#8220;<\/strong> \u0634\u062f\u062f \u0641\u064a\u0647 \u0645\u0627\u064a \u0639\u0644\u0649 \u0627\u0633\u062a\u062e\u062f\u0627\u0645 \u062a\u0643\u0646\u0648\u0644\u0648\u062c\u064a\u0627 \u0627\u0644\u0643\u0645\u0628\u064a\u0648\u062a\u0631 \u0648\u0627\u0644\u062a\u0634\u0641\u064a\u0631 \u0641\u064a \u0625\u062d\u062f\u0627\u062b \u062b\u0648\u0631\u0629 \u0627\u062c\u062a\u0645\u0627\u0639\u064a\u0629 \u0648\u0627\u0642\u062a\u0635\u0627\u062f\u064a\u0629 \u0645\u0646 \u0623\u062c\u0644 \u062a\u062d\u0631\u064a\u0631 \u0627\u0644\u0645\u062c\u062a\u0645\u0639. \u0644\u0645 \u064a\u0644\u0628\u062b \u0627\u0644\u0623\u0645\u0631 \u0637\u0648\u064a\u0644\u0627\u064b \u062d\u062a\u0649 \u062a\u0628\u0644\u0648\u0631\u062a \u0647\u0630\u0647 \u0627\u0644\u0634\u0639\u0627\u0631\u0627\u062a \u0648\u0627\u0644\u0623\u0641\u0643\u0627\u0631 \u0627\u0644\u0645\u062c\u0631\u062f\u0629 \u0625\u0644\u0649 \u0623\u0647\u062f\u0627\u0641 \u0623\u0643\u062b\u0631 \u0648\u0636\u0648\u062d\u0627\u064b \u0648\u062a\u062d\u062f\u064a\u062f\u0627\u064b \u0639\u0644\u0649 \u064a\u062f \u0625\u0631\u064a\u0643 \u0647\u0648\u0632 Eric Hughes\u060c \u0646\u0635 \u0639\u0644\u064a\u0647\u0627 \u0641\u064a \u0645\u0627\u0646\u064a\u0641\u0633\u062a\u0648 \u062c\u062f\u064a\u062f \u062a\u062d\u062a \u0627\u0633\u0645 <strong style=\"font-family: courier new;\">&#8220;<\/strong>\u0645\u0627\u0646\u064a\u0641\u0633\u062a\u0648 \u0633\u0627\u064a\u0641\u0631\u0628\u0646\u0643<strong style=\"font-family: courier new;\">&#8220;<\/strong> <strong style=\"font-family: courier new;\">&#8220;<\/strong>A Cypherpunk&#8217;s Manifesto<strong style=\"font-family: courier new;\">&#8220;<\/strong>.<\/p>\n<p>\u062d\u062f\u062f \u0647\u0648\u0632 \u0623\u0631\u0628\u0639\u0629 \u0623\u0647\u062f\u0627\u0641 \u0631\u0626\u064a\u0633\u064a\u0629 \u064a\u062c\u0628 \u0627\u0644\u0639\u0645\u0644 \u0639\u0644\u064a\u0647\u0627 \u0645\u0646 \u0623\u062c\u0644 \u062a\u062d\u0642\u064a\u0642 \u0647\u0630\u0627 \u0627\u0644\u0645\u062c\u062a\u0645\u0639 \u0627\u0644\u0645\u0641\u062a\u0648\u062d. \u0627\u0644\u0647\u062f\u0641 \u0627\u0644\u0623\u0648\u0644 \u0647\u0648 <strong style=\"font-family: courier new;\">&#8220;<\/strong>\u0627\u0644\u062a\u0634\u0641\u064a\u0631<strong style=\"font-family: courier new;\">&#8220;<\/strong> \u0644\u0643\u064a \u064a\u062a\u0645\u0643\u0646 \u0623\u0641\u0631\u0627\u062f \u0627\u0644\u0645\u062c\u062a\u0645\u0639 \u0645\u0646 \u062a\u062d\u0642\u064a\u0642 \u0627\u0644\u062e\u0635\u0648\u0635\u064a\u0629 \u0641\u064a \u062a\u0639\u0627\u0645\u0644\u0627\u062a\u0647\u0645 \u062f\u0648\u0646 \u0627\u0644\u062a\u062c\u0633\u0633 \u0639\u0644\u064a\u0647\u0645 \u0645\u0646 \u0627\u0644\u062f\u0648\u0644\u0629\u060c \u0645\u0646 \u0623\u062c\u0644 \u0627\u0644\u0633\u064a\u0637\u0631\u0629\u060c \u0623\u0648 \u0627\u0644\u0634\u0631\u0643\u0629\u060c \u0645\u0646 \u0623\u062c\u0644 \u0645\u064f\u0639\u0627\u0638\u0645\u0629 \u0623\u0645\u0648\u0627\u0644\u0647\u0627. \u0627\u0644\u0647\u062f\u0641 \u0627\u0644\u062b\u0627\u0646\u064a \u0647\u0648 <strong style=\"font-family: courier new;\">&#8220;<\/strong>\u0628\u0631\u064a\u062f \u0625\u0644\u0643\u062a\u0631\u0648\u0646\u064a \u0645\u0634\u0641\u0631<strong style=\"font-family: courier new;\">&#8220;<\/strong> \u0645\u0646 \u0623\u062c\u0644 \u062e\u0635\u0648\u0635\u064a\u0629 \u0627\u0644\u0645\u0631\u0627\u0633\u0644\u0627\u062a. \u0627\u0644\u0647\u062f\u0641 \u0627\u0644\u062b\u0627\u0644\u062b \u0647\u0648 <strong style=\"font-family: courier new;\">&#8220;<\/strong>\u0627\u0644\u062a\u0648\u0642\u064a\u0639 \u0627\u0644\u0631\u0642\u0645\u064a<strong style=\"font-family: courier new;\">&#8220;<\/strong> \u0645\u0646 \u0623\u062c\u0644 \u0645\u0648\u062b\u0648\u0642\u064a\u0629 \u0627\u0644\u062a\u0639\u0627\u0645\u0644\u0627\u062a. \u0622\u062e\u0631 \u0647\u062f\u0641 \u0647\u0648 <strong style=\"font-family: courier new;\">&#8220;<\/strong>\u0627\u0644\u0645\u0627\u0644 \u0627\u0644\u0625\u0644\u0643\u062a\u0631\u0648\u0646\u064a<strong style=\"font-family: courier new;\">&#8220;<\/strong> <strong style=\"font-family: courier new;\">&#8220;<\/strong>electronic money<strong style=\"font-family: courier new;\">&#8220;<\/strong>.<\/p>\n<p>\u0644\u0645 \u064a\u0643\u0646 \u0635\u0639\u0628\u0627\u064b \u0645\u0646 \u0627\u0644\u0646\u0627\u062d\u064a\u0629 \u0627\u0644\u0641\u0646\u064a\u0629 \u062a\u062d\u0642\u064a\u0642 \u0623\u0648\u0644 \u062b\u0644\u0627\u062b\u0629 \u0623\u0647\u062f\u0627\u0641 \u0645\u0646 \u0647\u0630\u0647 \u0627\u0644\u0623\u0631\u0628\u0639\u0629\u060c \u0641\u0643\u0644 \u0645\u0646 \u0627\u0644\u062a\u0634\u0641\u064a\u0631 \u0648\u0627\u0644\u0628\u0631\u064a\u062f \u0627\u0644\u0645\u0634\u0641\u0631 \u0648\u0627\u0644\u062a\u0648\u0642\u064a\u0639 \u0627\u0644\u0625\u0644\u0643\u062a\u0631\u0648\u0646\u064a \u062a\u0645 \u062a\u0637\u0648\u064a\u0631\u0647\u0627 \u0628\u0646\u062c\u0627\u062d. \u0643\u0630\u0644\u0643 \u0644\u0645 \u064a\u0643\u0646 \u0647\u0646\u0627\u0643 \u0639\u0627\u0626\u0642 \u0645\u0646 \u0646\u0627\u062d\u064a\u0629 \u0627\u0644\u062b\u0642\u0627\u0641\u0629 \u0627\u0644\u0645\u062c\u062a\u0645\u0639\u064a\u0629 \u0623\u0646 \u064a\u062a\u0642\u0628\u0644 \u0627\u0644\u0645\u062c\u062a\u0645\u0639 \u0647\u0630\u0647 \u0627\u0644\u0627\u0628\u062a\u0643\u0627\u0631\u0627\u062a \u0648\u064a\u062f\u0645\u062c\u0647\u0627 \u0641\u064a \u0627\u0633\u062a\u062e\u062f\u0627\u0645\u0627\u062a\u0647 \u0627\u0644\u064a\u0648\u0645\u064a\u0629. \u0644\u0643\u0646 \u062a\u062d\u0642\u064a\u0642 \u0627\u0644\u0647\u062f\u0641 \u0627\u0644\u0631\u0627\u0628\u0639 \u0628\u0625\u0646\u0634\u0627\u0621 \u0639\u0645\u0644\u0629 \u0625\u0644\u0643\u062a\u0631\u0648\u0646\u064a\u0629\u060c \u062a\u0646\u0637\u0644\u0642 \u0645\u0646 \u0627\u0644\u0625\u0646\u062a\u0631\u0646\u062a \u0643\u0645\u0646\u0635\u0629 \u0639\u0627\u0645\u0629\u060c \u0648\u0627\u062c\u0647 \u0635\u0639\u0648\u0628\u0627\u062a \u0641\u0646\u064a\u0629 \u0648\u062b\u0642\u0627\u0641\u064a\u0629 \u0639\u0644\u0649 \u062d\u062f \u0633\u0648\u0627\u0621. \u0639\u0644\u0649 \u0645\u062f\u0627\u0631 15 \u0639\u0627\u0645\u0627\u064b\u060c \u0645\u0646\u0630 \u062a\u0623\u0633\u064a\u0633 \u0627\u0644\u062d\u0631\u0643\u0629 \u0639\u0627\u0645 1993 \u0625\u0644\u0649 \u0638\u0647\u0648\u0631 \u0627\u0644\u0628\u062a\u0643\u0648\u064a\u0646 \u0639\u0627\u0645 2008\u060c \u0637\u064f\u0648\u0631\u062a \u0643\u062b\u064a\u0631 \u0645\u0646 \u0627\u0644\u0645\u062d\u0627\u0648\u0644\u0627\u062a \u0644\u062a\u062d\u0642\u064a\u0642 \u0647\u0630\u0627 \u0627\u0644\u0647\u062f\u0641 \u0644\u0643\u0646\u0647\u0627 \u0644\u0645 \u062a\u0646\u062c\u062d \u062d\u064a\u062b \u062c\u0633\u062f\u062a \u0627\u0644\u0639\u0648\u0627\u0626\u0642 \u0627\u0644\u0641\u0646\u064a\u0629 \u0648\u0639\u062f\u0645 \u0627\u0644\u0642\u0628\u0648\u0644 \u0627\u0644\u0645\u062c\u062a\u0645\u0639\u064a \u0627\u0644\u062a\u064a \u062a\u0648\u0627\u062c\u0647 \u062a\u062d\u0642\u064a\u0642 \u0639\u0645\u0644\u0629 \u0625\u0644\u0643\u062a\u0631\u0648\u0646\u064a\u0629.<\/p>\n<h2>\u0637\u0631\u064a\u0642 \u0627\u0644\u062d\u0644 \u064a\u0628\u062f\u0623 \u0628\u0645\u0631\u0627\u062c\u0639\u0629 \u0627\u0644\u062b\u0648\u0627\u0628\u062a<\/h2>\n<p>\u0639\u0644\u0649 \u0627\u0644\u0631\u063a\u0645 \u0645\u0646 \u0623\u0646 \u0627\u0644\u0639\u0627\u0644\u0645 \u0627\u0644\u0631\u0642\u0645\u064a\u060c \u0627\u0644\u0625\u0646\u062a\u0631\u0646\u062a\u060c \u0645\u0628\u0646\u0649 \u0639\u0644\u0649 \u0645\u0628\u062f\u0623 \u0627\u0644\u062a\u062f\u0641\u0642 \u0627\u0644\u062d\u0631 \u0644\u0644\u0645\u0639\u0644\u0648\u0645\u0627\u062a\u060c The free flow of information\u060c \u0625\u0644\u0627 \u0623\u0646 \u0647\u0630\u0627 \u0627\u0644\u062a\u062f\u0641\u0642 \u0644\u0627 \u064a\u0645\u0631 \u0625\u0644\u0627 \u0639\u0628\u0631 \u0648\u0633\u064a\u0637 \u064a\u0642\u062f\u0645 \u0644\u0643 \u0627\u0644\u062e\u062f\u0645\u0629. \u0641\u064a\u0645\u0643\u0646 \u0644\u0623\u064a \u0634\u062e\u0635\u064a\u0646 \u062a\u0628\u0627\u062f\u0644 \u0627\u0644\u0645\u0639\u0644\u0648\u0645\u0627\u062a \u0639\u0628\u0631 \u0627\u0644\u0625\u0646\u062a\u0631\u0646\u062a \u0644\u0643\u0646 \u0644\u0627\u0628\u062f \u0645\u0646 \u0648\u0633\u064a\u0637 \u064a\u062a\u0633\u0644\u0645 \u0627\u0644\u0645\u0639\u0644\u0648\u0645\u0627\u062a \u0645\u0646 \u0627\u0644\u0645\u0631\u0633\u0644 \u0644\u064a\u0639\u064a\u062f \u0625\u0631\u0633\u0627\u0644\u0647\u0627 \u0625\u0644\u0649 \u0627\u0644\u0645\u0633\u062a\u0642\u0628\u0650\u0644. \u064a\u0633\u0645\u0649 \u0647\u0630\u0627 \u0628\u0646\u0645\u0648\u0630\u062c \u0627\u0644\u062e\u0627\u062f\u0645-\u0627\u0644\u0639\u0645\u064a\u0644 The client-server model. \u062a\u0639\u062a\u0628\u0631 \u0627\u0644\u0634\u0631\u0643\u0629 \u0641\u064a \u0645\u0639\u0638\u0645 \u0627\u0644\u062d\u0627\u0644\u0627\u062a \u0645\u0642\u062f\u0645 \u0627\u0644\u062e\u062f\u0645\u0629 \u0623\u0648 \u0627\u0644\u0648\u0633\u064a\u0637 \u0627\u0644\u0630\u064a \u064a\u062a\u0645 \u0645\u0646 \u062e\u0644\u0627\u0644\u0647 \u0646\u0642\u0644 \u0627\u0644\u0645\u0639\u0644\u0648\u0645\u0627\u062a \u0628\u064a\u0646 \u0627\u0644\u0623\u0637\u0631\u0627\u0641. \u0625\u0630\u0627\u064b\u060c \u0639\u0644\u0649 \u0643\u0644 \u0645\u0646 \u064a\u0631\u064a\u062f \u0627\u0633\u062a\u062e\u062f\u0627\u0645 \u0627\u0644\u0625\u0646\u062a\u0631\u0646\u062a \u0641\u064a \u062a\u0642\u062f\u064a\u0645 \u062e\u062f\u0645\u0629 \u0623\u0648 \u062a\u0646\u0641\u064a\u0630 \u0645\u0634\u0631\u0648\u0639 \u0645\u0627 \u0623\u0646 \u064a\u0628\u062f\u0623 \u0645\u0646 \u0645\u064f\u0633\u0644\u0645\u0629 \u0623\u0646\u0647 \u0648\u0633\u064a\u0637 \u064a\u0646\u0628\u063a\u064a \u0623\u0646 \u062a\u0645\u0631 \u0645\u0646 \u062e\u0644\u0627\u0644\u0647 \u0645\u0627 \u064a\u062a\u0645 \u062a\u062f\u0627\u0648\u0644\u0647 \u0628\u064a\u0646 \u0627\u0644\u0645\u0633\u062a\u062e\u062f\u0645\u064a\u0646. \u0644\u0627 \u064a\u0645\u0643\u0646 \u0627\u0644\u0628\u0646\u0627\u0621 \u0639\u0644\u0649 \u0647\u0630\u0627 \u0627\u0644\u0646\u0645\u0648\u0630\u062c \u0644\u0625\u0646\u0634\u0627\u0621 \u0639\u0645\u0644\u0629 \u0631\u0642\u0645\u064a\u0629 \u0648\u0630\u0644\u0643 \u0644\u0633\u0628\u0628\u064a\u0646 \u0631\u0626\u064a\u0633\u064a\u064a\u0646. \u0627\u0644\u0623\u0648\u0644 \u0623\u0646\u0647 \u0645\u062e\u0627\u0644\u0641 \u0644\u0645\u0628\u0627\u062f\u0626 \u0627\u0644\u062d\u0631\u0643\u0629 \u0627\u0644\u0623\u0646\u0627\u0631\u0643\u064a\u0629 \u0627\u0644\u062a\u064a \u0644\u0627 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\u0641\u064a \u0625\u0646\u062a\u0627\u062c \u0627\u0644\u0643\u0645\u064a\u0627\u062a \u0627\u0644\u062a\u064a \u064a\u0631\u064a\u062f\u0647\u0627 \u0645\u0646 \u0627\u0644\u0639\u0645\u0644\u0629 \u0627\u0644\u062c\u062f\u064a\u062f\u0629\u060c \u0648\u0645\u0646 \u062b\u0645 \u0644\u0646 \u064a\u0643\u0648\u0646 \u0647\u0646\u0627\u0643 \u0641\u0631\u0642 \u062c\u0648\u0647\u0631\u064a \u0628\u064a\u0646\u0647\u0627 \u0648\u0628\u064a\u0646 \u0627\u0644\u0645\u0627\u0644 \u0627\u0644\u062a\u0642\u0644\u064a\u062f\u064a \u0645\u0646 \u062d\u064a\u062b \u062a\u062f\u0646\u064a \u0642\u064a\u0645\u062a\u0647 \u0645\u0639 \u0627\u0644\u0632\u0645\u0646 \u0644\u0630\u0644\u0643 \u0627\u0644\u0646\u0645\u0648\u0630\u062c \u0627\u0644\u0641\u0646\u064a \u0627\u0644\u0630\u064a \u064a\u0639\u062a\u0645\u062f \u0639\u0644\u0649 \u0648\u0633\u064a\u0637\u060c \u0648\u0627\u0644\u0645\u0624\u0633\u0633\u064a \u0627\u0644\u0630\u064a \u064a\u0639\u062a\u0645\u062f \u0639\u0644\u0649 \u0647\u064a\u0643\u0644 \u0627\u0644\u0634\u0631\u0643\u0629 \u0644\u0628\u0646\u064a\u0629 \u0627\u0644\u0625\u0646\u062a\u0631\u0646\u062a \u0627\u0644\u062a\u0642\u0644\u064a\u062f\u064a\u0629 \u0644\u0627 \u064a\u0645\u0643\u0646 \u0627\u0633\u062a\u062e\u062f\u0627\u0645\u0647\u0645 \u0641\u064a \u0625\u0646\u0634\u0627\u0621 \u0639\u0645\u0644\u0629.<br \/>\n<img decoding=\"async\" class=\"centerb\" style=\"display: block; margin-left: auto; margin-right: auto; width: 50%;\" src=\"http:\/\/subulmagazine.com\/wp-content\/uploads\/2021\/04\/image_2021-04-20_02-22-30.png\" alt=\"Client-Server Model\" \/><\/p>\n<p>\u0644\u0645 \u062a\u0647\u062f\u0623 \u0647\u0630\u0647 \u0627\u0644\u0645\u062d\u0627\u0648\u0644\u0627\u062a \u0639\u0644\u0649 \u0645\u062f\u0627\u0631 \u0639\u0642\u062f \u0648\u0646\u0635\u0641 \u0644\u062d\u0644 \u0647\u0630\u064a\u0646 \u0627\u0644\u0633\u0628\u0628\u064a\u0646 \u0648\u063a\u064a\u0631\u0647\u0645\u0627 \u0645\u0646 \u0627\u0644\u062a\u062d\u062f\u064a\u0627\u062a. \u0645\u062d\u0627\u0648\u0644\u0627\u062a \u062a\u0633\u0639\u0649 \u0644\u062a\u062d\u0642\u064a\u0642 \u0623\u0647\u062f\u0627\u0641 \u063a\u064a\u0631 \u0623\u0647\u062f\u0627\u0641 \u0648\u0627\u062f\u064a \u0627\u0644\u0633\u064a\u0644\u064a\u0643\u0648\u0646 Silicon Valley\u060c \u0642\u0644\u0639\u0629 \u0627\u0644\u0627\u0628\u062a\u0643\u0627\u0631\u0627\u062a \u0627\u0644\u062a\u0643\u0646\u0648\u0644\u0648\u062c\u064a\u0629 \u0627\u0644\u0631\u0623\u0633\u0645\u0627\u0644\u064a\u0629 \u0627\u0644\u062d\u0635\u064a\u0646\u0629\u060c \u0648\u0625\u0646 \u0643\u0627\u0646\u062a \u062a\u0633\u062a\u0641\u064a\u062f \u0648\u062a\u0633\u062a\u0645\u062f \u0642\u0648\u062a\u0647\u0627 \u0645\u0646\u0647 \u0648\u0645\u0646 \u0645\u0646\u0627\u062e\u0647 \u0627\u0644\u0645\u0641\u062a\u0648\u062d. \u0648\u062a\u0633\u0639\u0649 \u0623\u064a\u0636\u0627\u064b \u0641\u064a \u063a\u064a\u0631 \u0627\u062a\u062c\u0627\u0647 \u0627\u0644\u0645\u0624\u0633\u0633\u0629 \u0627\u0644\u0623\u0643\u0627\u062f\u064a\u0645\u064a\u0629\u060c \u0648\u0625\u0646 \u0643\u0627\u0646\u062a \u062a\u0633\u062a\u0641\u064a\u062f \u0645\u0646 \u0627\u0644\u0631\u0635\u0627\u0646\u0629 \u0627\u0644\u0639\u0644\u0645\u064a\u0629 \u0648\u0627\u0644\u0645\u062c\u062a\u0645\u0639 \u0627\u0644\u0628\u062d\u062b\u064a. \u0627\u0644\u0645\u0631\u0648\u0646\u0629 \u0648\u0627\u0644\u0625\u062e\u0644\u0627\u0635 \u0644\u0644\u0647\u062f\u0641 \u062c\u0639\u0644 \u0647\u0630\u0647 \u0627\u0644\u0641\u062a\u0631\u0629 \u0641\u062a\u0631\u0629 \u0645\u0631\u0627\u0643\u0645\u0629 \u0644\u062e\u0628\u0631\u0627\u062a \u0648\u062a\u062c\u0627\u0631\u0628 \u062a\u064f\u0645\u0643\u0651\u0650\u0646 \u0645\u0646 \u064a\u0623\u062a\u064a \u0628\u0639\u062f\u0647\u0627 \u0623\u0646 \u064a\u0628\u0646\u064a \u0639\u0644\u064a\u0647\u0627.<\/p>\n<p>\u0639\u0644\u0649 \u0623\u062d\u062f \u0623\u0643\u0628\u0631 \u0627\u0644\u0645\u0646\u0635\u0627\u062a \u0627\u0644\u0645\u0647\u062a\u0645\u0629 \u0628\u062a\u0634\u0628\u064a\u0643 \u0648\u062a\u0633\u0647\u064a\u0644 \u0639\u0645\u0644 \u0634\u0628\u0643\u0627\u062a \u0627\u062c\u062a\u0645\u0627\u0639\u064a\u0629 \u0645\u0646\u0638\u0645\u0629\u060c \u0648\u062a\u0633\u0645\u0649 <strong style=\"font-family: courier new;\">&#8220;<\/strong>P2P Foundation<strong style=\"font-family: courier new;\">&#8220;<\/strong> \u0642\u0627\u0645 \u0634\u062e\u0635 \u0645\u062c\u0647\u0648\u0644 \u0627\u0644\u0647\u0648\u064a\u0629 \u0639\u0631\u0641 \u0646\u0641\u0633\u0647 \u0628\u0633\u0627\u062a\u0648\u0634\u064a \u0646\u0627\u0643\u0627\u0645\u0648\u062a\u0648<strong style=\"font-family: courier new;\">&#8220;<\/strong>Satoshi Nakamoto<strong style=\"font-family: courier new;\">&#8220;<\/strong> \u0641\u064a \u0623\u0643\u062a\u0648\u0628\u0631 2008 \u0628\u0625\u0639\u0644\u0627\u0646 \u0623\u0646\u0647 \u064a\u0639\u0645\u0644 \u0639\u0644\u0649 \u0646\u0638\u0627\u0645 \u0635\u0631\u0641 \u0622\u0644\u064a \u064a\u0639\u0645\u0644 \u0628\u0627\u0644\u0643\u0627\u0645\u0644 \u0628\u064a\u0646 \u0637\u0631\u0641\u064a\u0646 \u0641\u0642\u0637 \u0628\u062f\u0648\u0646 \u0637\u0631\u0641 \u062b\u0627\u0644\u062b \u0648\u0633\u064a\u0637. \u0645\u0627 \u0641\u0639\u0644\u0647 \u0646\u0627\u0643\u0627\u0645\u0648\u062a\u0648 \u0623\u0646\u0647 \u0627\u0633\u062a\u0641\u0627\u062f \u0645\u0646 \u0627\u0644\u062a\u0631\u0627\u0643\u0645 \u0627\u0644\u0646\u0638\u0631\u064a \u0648\u0627\u0644\u0639\u0645\u0644\u064a\u060c \u0648\u0627\u0628\u062a\u0643\u0631 \u062a\u0643\u0646\u0648\u0644\u0648\u062c\u064a\u0627 \u062c\u062f\u064a\u062f\u0629 <strong style=\"font-family: courier new;\">&#8220;<\/strong>\u0628\u0631\u0648\u062a\u0648\u0643\u0648\u0644<strong style=\"font-family: courier new;\">&#8220;<\/strong> \u0633\u064f\u0645\u064a Blockchain \u0644\u0627\u0633\u062a\u062e\u062f\u0627\u0645\u0647\u0627 \u0643\u0646\u0638\u0627\u0645 \u0645\u0635\u0631\u0641\u064a \u0622\u0644\u064a \u0644\u0639\u0645\u0644\u062a\u0647 \u0627\u0644\u0625\u0644\u0643\u062a\u0631\u0648\u0646\u064a\u0629 \u0627\u0644\u0648\u0644\u064a\u062f\u0629 \u0628\u062d\u064a\u062b \u064a\u0645\u0643\u0646 \u0639\u0628\u0631\u0647 \u0646\u0642\u0644 \u0627\u0644\u0645\u0627\u0644 \u0628\u064a\u0646 \u0634\u062e\u0635\u064a\u0646 \u062f\u0648\u0646 \u0637\u0631\u0641 \u062b\u0627\u0644\u062b \u0636\u0627\u0645\u0646 \u0643\u0627\u0644\u0628\u0646\u0643 \u0641\u064a \u062d\u0627\u0644\u0629 \u0627\u0644\u0645\u0627\u0644 \u0627\u0644\u062a\u0642\u0644\u064a\u062f\u064a.<\/p>\n<p>\u062a\u063a\u0644\u0628 \u0646\u0627\u0643\u0627\u0645\u0648\u062a\u0648 \u0639\u0644\u0649 \u0623\u0643\u0628\u0631 \u0645\u0639\u0636\u0644\u062a\u064a\u0646 \u0648\u0627\u062c\u0647\u062a\u0627 \u0645\u0646 \u0633\u0628\u0642\u0647\u060c \u0627\u0644\u0646\u0645\u0648\u0630\u062c \u0627\u0644\u0641\u0646\u064a \u0627\u0644\u0630\u064a \u064a\u062c\u0639\u0644 \u0628\u0646\u064a\u0629 \u0627\u0644\u0625\u0646\u062a\u0631\u0646\u062a \u0642\u0627\u0626\u0645\u0629 \u0639\u0644\u0649 \u0648\u062c\u0648\u062f \u0648\u0633\u064a\u0637 \u0645\u0631\u0643\u0632\u064a \u0643\u0645\u0642\u062f\u0645 \u0644\u0643\u0644 \u062e\u062f\u0645\u0627\u062a \u0627\u0644\u0625\u0646\u062a\u0631\u0646\u062a. \u0648\u0627\u0644\u0646\u0645\u0648\u0630\u062c \u0627\u0644\u0645\u0624\u0633\u0633\u064a \u0644\u0647\u0630\u0627 \u0627\u0644\u0648\u0633\u064a\u0637 \u0627\u0644\u0630\u064a \u064a\u062d\u0638\u0649 \u0628\u0627\u0644\u064a\u062f \u0627\u0644\u0639\u0644\u064a\u0627 \u0644\u0644\u062a\u062d\u0643\u0645 \u0641\u064a \u0625\u0646\u062a\u0627\u062c \u0627\u0644\u0645\u0627\u0644 \u0648\u0628\u0627\u0644\u062a\u0627\u0644\u064a \u0639\u0644\u0649 \u0623\u0647\u0645 \u062e\u0635\u064a\u0635\u0629 \u0644\u0647 \u0648\u0647\u064a \u0627\u0644\u0646\u062f\u0631\u0629.<\/p>\n<p>\u0644\u0643\u064a \u064a\u062a\u063a\u0644\u0628 \u0646\u0627\u0643\u0627\u0645\u0648\u062a\u0648 \u0639\u0644\u0649 \u0645\u0639\u0636\u0644\u0629 \u0627\u0644\u0646\u0645\u0648\u0630\u062c \u0627\u0644\u0641\u0646\u064a \u0644\u0628\u0646\u064a\u0629 \u0627\u0644\u0625\u0646\u062a\u0631\u0646\u062a\u060c \u0644\u0645 \u064a\u0639\u062a\u0645\u062f \u0639\u0644\u0649 \u0646\u0645\u0648\u0630\u062c \u0627\u0644\u062e\u0627\u062f\u0645-\u0627\u0644\u0639\u0645\u064a\u0644 The client-server model \u0627\u0644\u0630\u064a \u0630\u0643\u0631\u0646\u0627\u0647\u060c \u0644\u0643\u0646\u0647 \u0627\u0639\u062a\u0645\u062f \u0639\u0644\u0649 \u0646\u0645\u0648\u0630\u062c \u0627\u0644\u0646\u062f \u0644\u0644\u0646\u062f \u0627\u0644\u0634\u0628\u0643\u064a Peer-to-Peer model. \u0641\u0628\u062f\u0644\u0627\u064b \u0645\u0646 \u0623\u0646 \u062a\u0646\u062a\u0642\u0644 \u0627\u0644\u0645\u0639\u0644\u0648\u0645\u0627\u062a \u0645\u0646 \u0627\u0644\u0645\u0631\u0633\u0644 \u0644\u0644\u0645\u0633\u062a\u0642\u0628\u0644 \u0639\u0628\u0631 \u0648\u0633\u064a\u0637 \u0645\u0631\u0643\u0632\u064a (\u0645\u0642\u062f\u0645 \u0627\u0644\u062e\u062f\u0645\u0629)\u060c \u0633\u062a\u0646\u062a\u0642\u0644 \u0645\u0646 \u0627\u0644\u0645\u0631\u0633\u0644 \u0625\u0644\u0649 \u0627\u0644\u0645\u0633\u062a\u0642\u0628\u0644 \u0639\u0628\u0631 \u0634\u0628\u0643\u0629 \u0645\u0646 \u0627\u0644\u0645\u062a\u0637\u0648\u0639\u064a\u0646 \u0628\u0623\u062c\u0647\u0632\u062a\u0647\u0645 \u0627\u0644\u062d\u0627\u0633\u0648\u0628\u064a\u0629. \u0648\u0628\u062f\u0644\u0627\u064b \u0645\u0646 \u0627\u062a\u062e\u0627\u0630 \u0627\u0644\u0642\u0631\u0627\u0631 \u0641\u064a \u0627\u0644\u0634\u0631\u0643\u0629 \u0628\u0634\u0643\u0644 \u0645\u0631\u0643\u0632\u064a \u0641\u064a \u0646\u0645\u0648\u0630\u062c \u0627\u0644\u062e\u0627\u062f\u0645 \u0627\u0644\u0639\u0645\u064a\u0644\u060c \u0627\u0639\u062a\u0645\u062f \u0646\u0627\u0643\u0627\u0645\u0648\u062a\u0648 \u0641\u064a \u062a\u0635\u0645\u064a\u0645\u0647 \u0639\u0645\u0644\u064a\u0629 \u0627\u0644\u0625\u062c\u0645\u0627\u0639 Consensus\u0628\u064a\u0646 \u0627\u0644\u0645\u0634\u0627\u0631\u0643\u064a\u0646 \u0644\u0627\u062a\u062e\u0627\u0630 \u0627\u0644\u0642\u0631\u0627\u0631. \u064a\u0628\u0631\u0632 \u0647\u0646\u0627 \u0633\u0624\u0627\u0644 \u0647\u0627\u0645\u060c \u062a\u0642\u0648\u0645 \u0627\u0644\u0634\u0631\u0643\u0629 \u0628\u062f\u0648\u0631 \u0627\u0644\u0648\u0633\u0627\u0637\u0629 \u0644\u062a\u0642\u062f\u064a\u0645 \u0627\u0644\u062e\u062f\u0645\u0627\u062a \u0639\u0644\u0649 \u0646\u0645\u0648\u0630\u062c \u0627\u0644\u062e\u0627\u062f\u0645 \u0627\u0644\u0639\u0645\u064a\u0644 \u0645\u0646 \u0623\u062c\u0644 \u0627\u0644\u0645\u0627\u0644\u060c \u0641\u0644\u0645\u0627\u0630\u0627 \u064a\u0642\u0648\u0645 \u0627\u0644\u0645\u062a\u0637\u0648\u0639\u0648\u0646 \u0628\u0627\u0633\u062a\u062e\u062f\u0627\u0645 \u0623\u062c\u0647\u0632\u062a\u0647\u0645 \u0648\u0625\u0646\u0641\u0627\u0642 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\u0646\u0627\u0643\u0627\u0645\u0648\u062a\u0648 \u0634\u0628\u0643\u0629 \u0627\u0644\u0628\u062a\u0643\u0648\u064a\u0646. \u0648\u0641\u064a \u0623\u0648\u0644 \u062a\u062d\u0648\u064a\u0644\u0629 \u0642\u0627\u0645 \u0628\u0647\u0627 \u0639\u0644\u0649 \u0627\u0644\u0634\u0628\u0643\u0629 \u0627\u062e\u062a\u0627\u0631 \u0646\u0627\u0643\u0627\u0645\u0648\u062a\u0648 \u0639\u0646\u0648\u0627\u0646 \u0635\u062d\u064a\u0641\u0629 The Times \u0627\u0644\u0628\u0631\u064a\u0637\u0627\u0646\u064a\u0629 \u0648\u0627\u0644\u0630\u064a \u064a\u0642\u0648\u0644 <strong style=\"font-family: courier new;\">&#8220;<\/strong>Chancellor Alistair Darling on brink of second bailout for banks Billions may be needed as lending squeeze tightens<strong style=\"font-family: courier new;\">&#8220;<\/strong> <strong style=\"font-family: courier new;\">&#8220;<\/strong>\u0627\u0644\u0645\u0633\u062a\u0634\u0627\u0631 \u0623\u0644\u064a\u0633\u062a\u064a\u0631 \u062f\u0627\u0631\u0644\u064a\u0646\u062c \u0639\u0644\u0649 \u0648\u0634\u0643 \u0627\u0644\u0625\u0646\u0642\u0627\u0630 \u0627\u0644\u062b\u0627\u0646\u064a \u0644\u0644\u0628\u0646\u0648\u0643\u060c \u0642\u062f \u062a\u0643\u0648\u0646 \u0647\u0646\u0627\u0643 \u062d\u0627\u062c\u0629 \u0625\u0644\u0649 \u0627\u0644\u0645\u0644\u064a\u0627\u0631\u0627\u062a \u0645\u0639 \u0627\u0644\u0636\u063a\u0637 \u0627\u0644\u0634\u062f\u064a\u062f \u0644\u0644\u0625\u0642\u0631\u0627\u0636<strong style=\"font-family: courier new;\">&#8220;<\/strong>. \u062d\u0648\u0631 \u0646\u0627\u0643\u0627\u0645\u0648\u062a\u0648 \u0628\u0639\u0636 \u0627\u0644\u0634\u064a\u0621 \u0641\u064a \u0627\u0644\u0639\u0646\u0648\u0627\u0646 \u0648\u0643\u062a\u0628: <strong style=\"font-family: courier new;\">&#8220;<\/strong>The Times 03\/Jan\/2009 Chancellor on brink of second bailout for banks<strong style=\"font-family: courier new;\">&#8220;<\/strong>\u060c <strong style=\"font-family: courier new;\">&#8220;<\/strong>\u0627\u0644\u062a\u0627\u0631\u064a\u062e 3 \u064a\u0646\u0627\u064a\u0631 2009\u060c \u0627\u0644\u0645\u0633\u062a\u0634\u0627\u0631 \u0639\u0644\u0649 \u0648\u0634\u0643 \u0627\u0644\u0625\u0646\u0642\u0627\u0630 \u0627\u0644\u062b\u0627\u0646\u064a \u0644\u0644\u0628\u0646\u0648\u0643<strong style=\"font-family: courier new;\">&#8220;<\/strong>. \u0641\u064a \u0631\u0633\u0627\u0644\u0629 \u0639\u0644\u0649 \u0625\u062b\u0628\u0627\u062a \u0645\u0648\u0639\u062f \u0625\u0637\u0644\u0627\u0642 \u0627\u0644\u0634\u0628\u0643\u0629 \u0645\u0646 \u062c\u0647\u0629\u060c \u0648\u0645\u0646 \u062c\u0647\u0629 \u0623\u062e\u0631\u0649 \u0631\u0633\u0627\u0644\u0629 \u0631\u0645\u0632\u064a\u0629 \u0639\u0644\u0649 \u0631\u0641\u0636 \u0633\u064a\u0627\u0633\u064a\u0627\u062a \u0627\u0644\u0646\u0638\u0627\u0645 \u0627\u0644\u0645\u0627\u0644\u064a 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\u0627\u0642\u062a\u0635\u0627\u062f \u064a\u062d\u0642\u0642 \u0627\u0644\u0642\u064a\u0645 \u0627\u0644\u0639\u0644\u064a\u0627 \u0644\u0641\u0627\u0639\u0644\u064a \u0627\u0644\u0623\u0645\u0629 \u0641\u064a \u0645\u062e\u062a\u0644\u0641 \u0627\u0644\u0623\u0642\u0637\u0627\u0631.<\/p>\n<hr \/>\n<h2>\u0627\u0644\u0645\u0635\u0627\u062f\u0631<\/h2>\n<ol>\n<li><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-02-08\/tesla-trails-only-microstrategy-in-treasury-bitcoin-allocation\">https:\/\/www.bloomberg.com\/news\/articles\/2021-02-08\/tesla-trails-only-microstrategy-in-treasury-bitcoin-allocation<\/a><\/li>\n<li>Ammous. S. (2018). The Bitcoin Standard: The Decentralized Alternative to Central Banking (1st. ed.). Wiley Publishing.<\/li>\n<li>\u0627\u0644\u0645\u0635\u062f\u0631 \u0627\u0644\u0633\u0627\u0628\u0642.<\/li>\n<li><a href=\"https:\/\/www.bankofengland.co.uk\/knowledgebank\/how-is-money-created\">https:\/\/www.bankofengland.co.uk\/knowledgebank\/how-is-money-created<\/a><\/li>\n<li>Fisher, W.C. (1895). Money and Credit Paper in the Modern Market. Journal of Political Economy, 3, 391 &#8211; 413.<\/li>\n<li><a href=\" https:\/\/corporatefinanceinstitute.com\/resources\/knowledge\/economics\/economic-cycle\/\"> https:\/\/corporatefinanceinstitute.com\/resources\/knowledge\/economics\/economic-cycle\/<\/a><\/li>\n<li><a href=\" https:\/\/www.officialdata.org\/us\/inflation\/1800?amount=1#buying-power\"> https:\/\/www.officialdata.org\/us\/inflation\/1800?amount=1#buying-power<\/a><\/li>\n<li>\u0631\u0627\u062c\u0639 \u0646\u0638\u0631\u064a\u0629 \u0627\u0644\u0646\u0642\u062f \u0627\u0644\u062d\u062f\u064a\u062b Modern Monetary Theory.<\/li>\n<li><a href=\" https:\/\/inequality.org\/facts\/global-inequality\/\"> https:\/\/inequality.org\/facts\/global-inequality\/<\/a><\/li>\n<li>\u0627\u0644\u0623\u0646\u0627\u0631\u0643\u064a\u0629 \u062a\u0648\u062c\u0647 \u064a\u0631\u0649 \u0623\u0646\u0647 \u064a\u0645\u0643\u0646 \u0644\u0644\u0645\u062c\u062a\u0645\u0639 \u0623\u0646 \u064a\u0646\u0638\u0645 \u0646\u0641\u0633\u0647 \u0628\u0646\u0641\u0633\u0647 \u062f\u0648\u0646 \u0627\u0644\u062d\u0627\u062c\u0629 \u0644\u0633\u0644\u0637\u0629 \u0639\u0644\u064a\u0627. \u0631\u0627\u062c\u0639 Wasserstrom, R. (1978) \u2018Comments On <strong style=\"font-family: courier new;\">&#8220;<\/strong>ANARCHISM AND AUTHORITY<strong style=\"font-family: courier new;\">&#8220;<\/strong>.\u2019. Nomos, 19, 111-114.<\/li>\n<li>May, T. (1988) \u2018The Crypto Anarchist Manifesto <a href=\" https:\/\/www.activism.net\/cypherpunk\/crypto-anarchy.html.\"> https:\/\/www.activism.net\/cypherpunk\/crypto-anarchy.html.<\/a><\/li>\n<li>Narayanan, A. (2013) \u2018What Happened to the Crypto Dream?\u2019 IEEE Security &amp; Privacy 75-76.<\/li>\n<li>Hughes, E. (1993) \u2018A Cypherpunk&#8217;s Manifesto\u2019 <a href=\"https:\/\/www.activism.net\/cypherpunk\/manifesto.html\">https:\/\/www.activism.net\/cypherpunk\/manifesto.html.<\/a><\/li>\n<li>\u0627\u0644\u0645\u0631\u062c\u0639 \u0627\u0644\u0633\u0627\u0628\u0642<\/li>\n<li>\u0638\u0647\u0631\u062a \u0646\u0645\u0627\u0630\u062c \u0623\u062e\u0631\u0649 \u0645\u062b\u0644 Torrent \u0648\u063a\u064a\u0631\u0647\u0627 \u0644\u0643\u0646\u0647\u0627 \u0644\u0645 \u062a\u062d\u0642\u0642 \u0646\u062c\u0627\u062d\u0627\u064b \u0643\u0628\u064a\u0631\u0627\u064b \u0648\u0648\u0627\u062c\u0647\u062a \u062a\u062d\u062f\u064a\u0627\u062a \u0642\u0627\u0646\u0648\u0646\u064a\u0629 \u0648\u0645\u062e\u0627\u0644\u0641\u0627\u062a \u062d\u0642\u0648\u0642 \u0645\u0644\u0643\u064a\u0629 \u062d\u062f\u062a \u0645\u0646 \u0627\u0646\u062a\u0634\u0627\u0631\u0647\u0627 \u0648\u0627\u0644\u0628\u0646\u0627\u0621 \u0639\u0644\u064a\u0647\u0627. \u0631\u0627\u062c\u0639 De Filippi, P., Wright, A. (2018). Blockchain and the Law: The Rule of Code. Cambridge, Massachusetts; London, England: Harvard University Press<\/li>\n<li>\u0645\u0639\u0638\u0645 \u0627\u0644\u0645\u0637\u0648\u0631\u064a\u0646 \u0643\u0627\u0646\u0648\u0627 \u062c\u0632\u0621 \u0645\u0646 \u0645\u062c\u062a\u0645\u0639 \u0648\u0627\u062f\u064a \u0627\u0644\u0633\u064a\u0644\u064a\u0643\u0648\u0646 \u0623\u062b\u0646\u0627\u0621 \u0639\u0645\u0644\u0647\u0645. \u0631\u0627\u062c\u0639 \u0645\u0631\u0627\u0633\u0644\u0627\u062a \u062a\u064a\u0645\u0648\u062b\u064a \u0645\u0627\u064a \u0645\u0639 \u0632\u0645\u0644\u0627\u0624\u0647 \u0648\u0627\u0644\u0630\u064a \u0643\u0627\u0646 \u0645\u0647\u0646\u062f\u0633\u0627\u064b \u0641\u064a \u0634\u0631\u0643\u0629 \u0625\u0646\u062a\u0644 Intel \u062d\u062a\u0649 \u0633\u0646 35 \u0639\u0627\u0645\u0627\u064b \u062b\u0645 \u062a\u0642\u0627\u0639\u062f \u0645\u0646\u0647\u0627 \u0639\u0627\u0645 1986. \u0643\u0645\u062b\u0627\u0644: <a href=\"https:\/\/www.activism.net\/cypherpunk\/crypto-anarchy.html\">https:\/\/www.activism.net\/cypherpunk\/crypto-anarchy.html<\/a><\/li>\n<li>\u0627\u0633\u062a\u0641\u0627\u062f\u062a \u0627\u0644\u062d\u0631\u0643\u0629 \u0645\u0646 \u0627\u0644\u0645\u0624\u062a\u0645\u0631\u0627\u062a \u0627\u0644\u0639\u0644\u0645\u064a\u0629 \u0648\u0642\u062f\u0645 \u0623\u0639\u0636\u0627\u0621\u0647\u0627 \u0623\u0648\u0631\u0627\u0642\u0627\u064b \u0628\u062d\u062b\u064a\u0629 \u0641\u064a\u0647\u0627. \u0631\u0627\u062c\u0639 \u0627\u0644\u0631\u0627\u0628\u0637 \u0641\u064a \u0627\u0644\u0645\u0635\u062f\u0631 \u0627\u0644\u0633\u0627\u0628\u0642.<\/li>\n<li><a href=\"https:\/\/p2pfoundation.net\/\">https:\/\/p2pfoundation.net\/<\/a><\/li>\n<li>\u0645\u0631\u0627\u0633\u0644\u0629 \u0645\u0646 \u0646\u0627\u0643\u0627\u0645\u0648\u062a\u0648 \u0641\u064a \u0627\u0644\u0639\u0627\u0634\u0631 \u0645\u0646 \u0623\u0643\u062a\u0648\u0628\u0631 \u0639\u0627\u0645 2008 \u0625\u0644\u0649 \u0627\u0644\u0645\u0634\u0627\u0631\u0643\u064a\u0646 \u0641\u064a \u0627\u0644\u0642\u0627\u0626\u0645\u0629 \u0627\u0644\u0628\u0631\u064a\u062f\u064a\u0629 \u0627\u0644\u062e\u0627\u0635\u0629 \u0628\u0627\u0644\u062a\u0634\u0641\u064a\u0631 Cryptography Mailing List. <a href=\"https:\/\/satoshi.nakamotoinstitute.org\/emails\/cryptography\/1\/#selection-21.0-21.14\">https:\/\/satoshi.nakamotoinstitute.org\/emails\/cryptography\/1\/#selection-21.0-21.14<\/a><\/li>\n<li>Schollmeier, R. (2001) \u2018Definition of Peer-to-Peer Networking for the Classification of Peer-to-Peer Architectures and Applications\u2019 Proceedings of the First International Conference on Peer-to-Peer Computing, IEEE 101\u2013102.<\/li>\n<li>Nakamoto, S. (2008) \u2018Bitcoin: A Peer-to-Peer Electronic Cash System\u2019.<a href=\"https:\/\/bitcoin.org\/bitcoin.pdf\">https:\/\/bitcoin.org\/bitcoin.pdf<\/a><\/li>\n<li>\u064a\u062c\u0628 \u062a\u0634\u063a\u064a\u0644 \u0623\u062c\u0647\u0632\u0629 \u0627\u0644\u062d\u0627\u0633\u0648\u0628 \u0627\u0644\u0645\u0634\u0627\u0631\u0643\u0629 \u0641\u064a \u0627\u0644\u0634\u0628\u0643\u0629 \u0639\u0644\u0649 \u0645\u062f\u0627\u0631 \u0627\u0644\u0633\u0627\u0639\u0629. \u0648\u0647\u0630\u0627 \u064a\u062a\u0631\u062a\u0628 \u0639\u0644\u064a\u0647 \u0627\u0633\u062a\u0647\u0644\u0627\u0643 \u0637\u0627\u0642\u0629 \u0643\u0647\u0631\u0628\u064a\u0629 \u0645\u0643\u0644\u0641\u0629 \u0645\u0639 \u0639\u0645\u0644\u064a\u0627\u062a \u0635\u064a\u0627\u0646\u0629 \u062f\u0648\u0631\u064a\u0629 \u0644\u0644\u0645\u062d\u0627\u0641\u0638\u0629 \u0639\u0644\u0649 \u0627\u0633\u062a\u0645\u0631\u0627\u0631\u064a\u0629 \u0639\u0645\u0644 \u0627\u0644\u062d\u0648\u0627\u0633\u064a\u0628 \u062f\u0648\u0646 \u0627\u0646\u0642\u0637\u0627\u0639 \u0645\u0646 \u0623\u062c\u0644 \u0627\u0633\u062a\u0645\u0631\u0627\u0631 \u0627\u0644\u062e\u062f\u0645\u0629.<\/li>\n<li>Nakamoto, S. (2008) \u2018Bitcoin: A Peer-to-Peer Electronic Cash System\u2019.<a href=\"https:\/\/bitcoin.org\/bitcoin.pdf\">https:\/\/bitcoin.org\/bitcoin.pdf<\/a><\/li>\n<li>\u0627\u0644\u0645\u0635\u062f\u0631 \u0627\u0644\u0633\u0627\u0628\u0642.<\/li>\n<li><a href=\"https:\/\/www.thetimes.co.uk\/article\/chancellor-alistair-darling-on-brink-of-second-bailout-for-banks-n9l382mn62h#:~:text=Alistair%20Darling%20has%20been%20forced,failed%20to%20keep%20credit%20flowing\">https:\/\/www.thetimes.co.uk\/article\/chancellor-alistair-darling-on-brink-of-second-bailout-for-banks-n9l382mn62h#:~:text=Alistair%20Darling%20has%20been%20forced,failed%20to%20keep%20credit%20flowing<\/a><\/li>\n<li>\u0627\u0644\u0645\u0633\u062a\u0634\u0627\u0631 Alistair Darling \u0648\u0632\u064a\u0631 \u0627\u0644\u062e\u0632\u0627\u0646\u0629 \u0627\u0644\u0628\u0631\u064a\u0637\u0627\u0646\u064a \u0622\u0646 \u0630\u0627\u0643.<\/li>\n<li><a href=\"https:\/\/en.bitcoin.it\/wiki\/Genesis_block\">https:\/\/en.bitcoin.it\/wiki\/Genesis_block<\/a><\/li>\n<\/ol>\n","protected":false},"excerpt":{"rendered":"<p>\u0623\u062d\u062f\u062b \u0627\u0644\u0628\u062a\u0643\u0648\u064a\u0646 \u0635\u062e\u0628\u0627\u064b \u0628\u0639\u062f \u062a\u0628\u0646\u064a \u0645\u0624\u0633\u0633\u0627\u062a \u0643\u0628\u0631\u0649 \u0644\u0647 \u0641\u064a \u0627\u0644\u0622\u0648\u0646\u0629 \u0627\u0644\u0623\u062e\u064a\u0631\u0629\u060c \u0645\u062b\u0644 \u0634\u0631\u0643\u062a\u0627 \u062a\u0633\u0644\u0627\u0648MicroStrategy. \u0645\u0627 \u062c\u0639\u0644 \u0642\u064a\u0645\u062a\u0647 \u062a\u062a\u062c\u0627\u0648\u0632 50 \u0623\u0644\u0641 \u062f\u0648\u0644\u0627\u0631\u0627\u064b \u0644\u0644\u0628\u062a\u0643\u0648\u064a\u0646 \u0627\u0644\u0648\u0627\u062d\u062f \u0628\u0639\u062f \u0623\u0646 \u0628\u062f\u0623 \u0645\u0646\u0630 \u0623\u0643\u062b\u0631 \u0645\u0646 10 \u0633\u0646\u0648\u0627\u062a \u0628\u0623\u0642\u0644 \u0645\u0646 \u0633\u0646\u062a. \u0647\u0630\u0627 \u0627\u0644\u0634\u0643\u0644 \u0627\u0644\u062c\u062f\u064a\u062f \u0644\u0644\u0645\u0627\u0644 \u064a\u0639\u064a\u062f \u0646\u0638\u0631\u062a\u0646\u0627 \u0625\u0644\u0649 \u062c\u0630\u0648\u0631 \u0641\u0643\u0631\u0629 \u0627\u0644\u0645\u0627\u0644 \u0641\u064a \u062a\u0627\u0631\u064a\u062e \u0627\u0644\u0628\u0634\u0631 \u0648\u0645\u0627 \u0637\u0631\u0623 \u0639\u0644\u064a\u0647\u0627 \u0645\u0646 \u062a\u063a\u064a\u064a\u0631\u0627\u062a \u0622\u062e\u0631\u0647\u0627 \u0641\u064a \u0639\u0635\u0631 [&hellip;]<\/p>\n","protected":false},"author":83,"featured_media":688,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[147,1],"tags":[],"chapterschapters":[],"class_list":["post-54","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-147","category-1"],"acf":[],"_links":{"self":[{"href":"https:\/\/subulmagazine.com\/index.php?rest_route=\/wp\/v2\/posts\/54","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/subulmagazine.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/subulmagazine.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/subulmagazine.com\/index.php?rest_route=\/wp\/v2\/users\/83"}],"replies":[{"embeddable":true,"href":"https:\/\/subulmagazine.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=54"}],"version-history":[{"count":1,"href":"https:\/\/subulmagazine.com\/index.php?rest_route=\/wp\/v2\/posts\/54\/revisions"}],"predecessor-version":[{"id":3302,"href":"https:\/\/subulmagazine.com\/index.php?rest_route=\/wp\/v2\/posts\/54\/revisions\/3302"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/subulmagazine.com\/index.php?rest_route=\/wp\/v2\/media\/688"}],"wp:attachment":[{"href":"https:\/\/subulmagazine.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=54"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/subulmagazine.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=54"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/subulmagazine.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=54"},{"taxonomy":"chapterschapters","embeddable":true,"href":"https:\/\/subulmagazine.com\/index.php?rest_route=%2Fwp%2Fv2%2Fchapterschapters&post=54"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}