diff --git a/doc/paper/taler.tex b/doc/paper/taler.tex
index 36bda391c..fd9fbeac5 100644
--- a/doc/paper/taler.tex
+++ b/doc/paper/taler.tex
@@ -188,13 +188,14 @@ transactions are recorded for eternity, which can enable
 identification of users.  In theory, this concern has been addressed
 with the Zerocoin extension to the protocol~\cite{miers2013zerocoin}.
 
-These protocols dispense with the need for a central, trusted
-authority, while providing a useful measure of pseudonymity.
+The key contribution of blockchain-based protocols is that
+they dispense with the need for a central, trusted
+authority.
 Yet, there are several major irredeemable problems inherent in their designs:
 
 \begin{itemize}
   \item The computational puzzles solved by Bitcoin nodes with the purpose
-    of securing the block chain consume a considerable amount of energy.
+    of securing the blockchain consume a considerable amount of energy.
     So Bitcoin is an environmentally irresponsible design.
   \item Bitcoin transactions have pseduononymous recipients, making taxation
     hard to systematically enforce.