I’m beginning to think “money” is going to be in serious structural trouble in the next decade. It won’t be blockchain eating it, but more fundamental things having to do with risk intelligence. Fiat Classic is just too dumb for this world and increasingly a source of friction.
Conversation
Money was designed for a less sophisticated risk environment and all the shady derivatives world is an attempt to bolt on risk management in fragile layers. Kinda like the Windows GUI on top of DOS before NT.
Replying to
Completely agreed, this “trend” of cryptocurrency and blockchain bringing compute to a paperware technology is important though, because now we can embed risk-management functions and the like within the money itself. (Well - theoretically at least.)
1
2
Replying to
Against the Gods is a terrific book on the history of risk.
goodreads.com/book/show/1284
1
Replying to
Hm, it's not "money" so much as specific investment paths and monetary travel then, yes? Either it'll work out via social change (people will wise-up) or law and regulation. Like tech/security, it's about mitigation not prevention.
1





