The ECB announced the results of their two year digital euro investigation. Many questions still stand. They have decided to move forward.
This week Isabelle sat down with Jonas Gross from the Digital Euro Association to talk about Europe's development of a CBDC.
In this conversation, we talk with Jon Helgi Egilsson about his incredible journey to becoming Chairman and a co-founder of Monerium.
Jon is a former chairman and vice-chairman of the supervisory board of the Icelandic Central Bank, a former adjunct professor in financial engineering and MBA lecturer at Reykjavik University, a visiting scholar at Columbia University, and co-founder of four software companies. Additionally, we explore the various concepts of digital money in the framework creating a competitive yet unified environment between fiat money, banking based on fractional-reserve, and the token economy.
central bank / CBDCChinacivilization and politicsCryptoDAOsdecentralized financegovernanceIndiamacroeconomicsMetaverse / xRregulation & compliance
·In this conversation, we are so lucky to tap into the brilliant mind of none other than Sheila Warren who sits on the Executive Committee of the World Economic Forum and is a key member in the executive leadership of the Forum’s Centre for the Fourth Industrial Revolution (C4IR), in which she oversees strategy across the entire C4IR Network, consisting of centers in 13 countries. Sheila also holds board member and advisory positions at multiple institutions and organizations including The MIT Press (Cryptoeconomic Systems), The Organisation for Economic Co-operation and Development (OECD), NGO network TechSoup and she is a Member of The Bretton Woods Committee.
More specifically, we discuss her professional journey from small claims court to NGO Aid to refugees to corporate law to The WEF, touching on rational choice theory, corporate personhood and its correlation to the growth around ESG, new substrates, DAOs and protocols, artificial intelligence, the purpose of The World Economic Forum and its impact on governments and society alike, and just so much more!
central bank / CBDCcivilization and politicsenterprise blockchainmacroeconomicsnarrative zeitgeistphilosophyregulation & complianceSocial / Communitystablecoinsthings that are not true
·We anchor our writing around the World Economic Forum 223 page report on CBDCs and stablecoins. The analysis highlights the key conclusions across several white papers in the report. We then add a layer of meta analysis around the language in the report, and question what it is trying to accomplish, and whether that will work with the Web3 revolution. This leads us to think about the tension between populism, as represented by crypto, and institutionalism, as represented by banking structures. We discuss theories of cultural and national DNA, and the rise of populism, as difficult problems to solve for any global alignment.
central bank / CBDCChinacovid pandemicmacroeconomicsregulation & compliancesmall businessstablecoins
·This week, we look at cash -- blockchain cash. The war for money is just starting to ramp up, as Facebook Libra explains its new regulated plan, the Chinese national Blockchain Service network goes live, Ethereum stablecoins reach historic market caps in the billions, and the Financial Stability Board recommends to go heavy on global stablecoin arrangements. In 2008, Bitcoin threw a rock through the window of the financial skyscraper, and today we are starting to see the cracks. As the US government runs out of $350 billion in small business bail-out money and gets ready to print more, where do you stand?
This week, we look at:
The Bitcoin money supply being worth as much as the M1 of several countries
The Visa/Plaid deal DOJ anti-trust filing and the PayPal integration of Bitcoin
Understanding Central Bank Digital Currencies in the context of card networks, payment processors, and digital economies
Chinese CBDC and how it could relate to stopping the $34B Ant Financial IPO
How a CBDC ecosystem is like an operating system, rather than a payment rail
Finance minister and frontrunner in Argentina presidential elections announced the digital Peso project, against crypto critics.
This week, we look at:
China’s Five Year Plan, the industrial logic of the system, and its ramifications for blockchain and fintech in the country
The regulatory challenges faced by Chinese tech companies, including the resignation of Ant Group’s CEO and the anti-competition fines for Tencent
The growth path of the e-CNY digital currency, as well as Beijing’s enterprise blockchain powering the city infrastructure and governance
Footnote: Stripe worth $95 billion, closing $600 million investment
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This week, we look at:
How banks and financial advisors have failed to deliver on $1 trillion in capital appreciation for their clients over the last 12 years
The role of bank regulators in the United States, and the tensions between state and federal agencies
How the OCC is laying the groundwork for national banks to custody crypto assets, bank stablecoin reserves, run blockchain nodes, and use crypto payment networks
And instead of financial advisors or other CFAs guiding the retail market in good decision making, a newsfeed of *what’s popular* has driven Apple, Google, Tesla and the other John Galt hallucinations to the stratosphere. Don’t get us wrong. We love the robot as much as the next Fintech commentator. But it is clear to us that “the masses” are not being “advised”. And that the capital appreciation that matters — cementing the next trillion dollar networks for global future generations in work yet to emerge — is misunderstood and misrepresented by most financial professionals to their clients.