https://m.youtube.com/watch?t=1235s&v=vbNMYfqTCkA … Don’t know if you guys seen this presentation by Jihan Wu yet. He thinks the future are Private Central Banks issuing stablecoins which will compete against one another and entire governments will outsource monetary-policy-as-a-service.
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I think it is possible, but probably pretty unlikely. The more likely outcome is a mixed currency economy, where you still have a single accounting currency for taxation purposes, which probably will remain the government's fiat currency, but people transact in many currencies.
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Don’t you think that 100s of currencies is no different to barter, the very thing that money wa supposed to eliminate? They exist today because of borders and add friction UX. I believe future are 1-5 big winners. What do you think?
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I actually think we’ll go move back towards barter with tokenized assets. Might write a blog post on this. :)
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I think SoV component of Money will decrease from $80T to $30-40T due to hyperliquidity of everything but it will not go away, and while it will slowly dissapear, it will take a long time. Money needs to be lowest risk, most liquid good and interest rates are inevitably dropping
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Interest rates can't get lower than 0 though, and most western economies are at or close to 0. China even is at 1.5% AFAIK.
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Exactly, my point is, money should be lower risk than any bond
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It will be an interesting next 10-25 years, this topic has far too many possible outcomes for me to say anything about though :D
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Some months ago I stumbled by a tweet comment storm of yours where you describe how Blockchains will often destroy revenues, not enable them, due to eradicating middlemen and value transferring to P2P participants themselves. Been quoting it to many people since
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That is a general feature of entrepreneurship/innovation, idea came from reading Schumpeter, you might enjoy reading some of his work. He coined the term creative destruction.
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Yes I am familiar. Blockchains (pardon me) like Electricity and the Internet really taking it to the next level.
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