"Fusing Spirit and Matter" as AI and CBDC Start to Change our World
This is just the beginning!
Artwork of the day: Birth of Venus, Sandro Botticelli (Firenze 1445 – 1510)
This universal icon of Western painting was probably painted around 1484 for the villa of Castello, owned by Lorenzo di Pierfrancesco de 'Medici. Rather than a birth, what we see is the goddess landing on the shore of her homeland, the island of Cyprus, or on Kithera.
The goddess stands upright on a shell as she is driven towards the shore by the breeze of Zephyrus, a wind god, who is holding the nymph, Chloris. On the right is the Hora of springtime, who waits to greet Venus ashore with a cloak covered in pink flowers.
The real meaning of this dreamlike vision is still under scholarly debate and investigation but is undoubtedly linked with the Neo-Platonic philosophy, widely cultivated in the Medici court. According to the interpretation by Ernst Gombrich, the work depicts the symbolic fusion of Spirit and Matter, the harmonious interaction of Idea and Nature.
Nevertheless, the interpretations of this painting of extraordinary visual impact are numerous and diverse. It's a work of art which will be discussed and adored as long as there are humans on earth.
Why today’s stories matter:
Botticelli’s Birth of Venus is said to symbolize a symbolic fusion of Spirit and Matter, which ties perfectly to today’s stories! Today, we have two main themes: the Spirit of AI and the Matter of Money through CBDC! Enjoy!
Wholesale CBDCs are the only type of CBDC without privacy controversy and will be adopted by many central banks in the next 2-3 years. The WEF report is the best I’ve ever seen on wCBDCs! You will understand how they are game-changers! ….see the next article….
Where are wholesale CBDCs helping to take us? The objective is the “finternet,” where money is everything, everywhere, and all the time. Like flying cars, we won’t get all of this “internet” future, but even if we only get half of it, it will be a great achievement.
The Digital Euro is getting offline transfers and multiple accounts! This is huge. The ECB is designing the new digital euro before your eyes!
Moving to AI, we have the best AI report of the year! It is a key read for anyone wanting to learn more about where AI will take us and society. I provide instructions on how to read it! Please don’t miss this one!
I was very tough on this Mastercard overview of AI in financial services—maybe too tough. Most of the report is uneventful, but their comments on future uses of AI, which called for more AI and fewer people, bugged me!
Fintech funding is now at 2017 levels. Scared? Don’t be the bubble that was bound to pop. Now, we can return to reality, and fintech business models are not based on “hopium.”
Wholesale CBDC the CBDC We Can ALL Love!
This is a FABULOUS READ on wholesale CBDCs that covers all of the terminology and will bring you up to speed with the latest developments. Kudos to WEF. WCBDCs are the CBDCs everyone should love because they have tremendous potential to rewire our aging and expensive financial systems. That’s why 98% of the global economy's central banks are researchi…
Our Finternet Future: "Everything Everywhere All at Once"
The BIS delivers a POWERFUL READ that gives us a taste of the future of our financial system and calls it the “Finternet.” I call it Finance that is “Everything, Everywhere, All at Once” This paper is not academic. Read it because it gives all of us in fintech a goal or objective to strive for or mountain to climb. Whether you like the term Finternet o…
Digital Euro Update: Offline Functionality Explained, Yes to Multiple Accounts and Still Waiting for Holding Limits
Read the top two on Offline Transfers and Multiple Accounts. The holding limits paper discusses methodology, while the timetable is for this phase only. We are getting offline transfers with our digital euro! I told you so! The European Central Bank just released four papers showing good progress on the digital euro its new Central Bank Digital Curre…
Understand Where AI is Going and How it is Already Changing Society
The AI index report is a “must read” as it shows just how fast our AI revolution is moving and how much of an impact it is already having on society. This report is a masterpeace and provides a beautiful graphical summary of AI research and I guarantee it will be as insightful for you as it was for me!
Banks and GenAI: Who Needs Humans Anyway?
Visa talks AI and banking in a report that asks a brilliant question only to suggest that GenAI be used to cut people and costs. The brilliant question is: Will generative AI provide an enduring edge to financial services providers, or become a commoditized ‘table-stakes’ feature?
Fintech Hammered with Funding Returning to 2017 Levels
CB Insights Q1 report on fintech is an eye-opener, with the funding reaching lows not seen since 2017. What can you say when investors have moved on to the next shiny thing, AI which received an 8-fold increase in funding in 2023! Still, if you ask ChatGPT, it denies it:
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The incoming 'BRICS Pay' & 'BRICS Bridge' will be fascinating to watch! After deploying this new monetary platform, let's see if they can create sanction-proof supply chains too. Economic freedom for the oppressed, at last! 💸