Stablecoins are neither fish nor fowl! Tokenization in Asia, the human toll of GenAI, and why Africa needs the India Stack!
Stablecoins are neither fish nor fowl! Tokenization in Asia, the human toll of GenAI, and why Africa needs the India Stack!
Check out my lively podcast with the incomparable Efi Pylarinou!
Artwork of the day: Detail from La présence d'esprit (The Presence of Mind) René Magritte, 1960
An emotionally intriguing artwork that challenges the viewer's perception and invites contemplation. Created in 1960, this painting showcases Magritte's surrealistic style and his ability to blur the boundaries between reality and imagination.
Magritte creates a thought-provoking composition that explores the nature of consciousness and the complexities of the human mind. The painting evokes a range of emotions, from curiosity and fascination to a sense of mystery and intrigue.
I'm sorry I'm a day late! I actually finished writing this newsletter on time, but I just remembered I needed to hit the send button! I feel exactly like the man in the painting above!
So today’s artwork by Magritte seems like a striking example of the old saying, “Neither fish nor fowl.” Humans are neither. It’s a great theme for today’s writing!
This week’s great reads include an impactful read on tokenization that shows our shared future. This is followed by another impactful read showing how some stablecoins are neither “fish nor fowl.” They are not all created equal.
Humans matter, though you wouldn’t think it with all the talk about the GenAI revolution. Finally, someone asks the right question: “What happens to the humans?” Will we be slaughtered like fish and fowl with GenAI job losses?
Financial inclusion is always a hot topic, and while I like Mastercard’s report, Africa and the Middle East deserve better than credit cards!
Finally, here's a great video with my friend Efi Pylarinou that tackles big topics like CBDC, the Petroyuan, and Digital Wallets.
Enjoy
Video: CBDC, Petroyuan and Digital Wallets!
CBDC update! These are some of the most important breakthroughs in the CBDC world, so listen in and bring yourself up to speed with one entertaining podcast!
For those who may not know, Efi and I are good friends on LinkedIn, and in this podcast, we get to talk one-on-one!
Our exchanges are full of life, friendship, and great storytelling! You will learn how much I hate Zelle!
Enjoy the podcast, and let me know what you think!
👉Time Stamp with “Truth Bombs”
"Noun. truth bomb (plural truth bombs) (informal) A blunt, undiplomatic statement of something that is true that others may not want or expect to hear."
01:25 Richard Turin on CBDC Developments
03:50 The SWIFT System and CBDC Integration
04:33 The CBDC debate: Privacy, Surveillance, and Polarization
💣 Truth bomb 💣
“When I wrote about Swift recently I didn't analyze the tech as much as I pointed out it doesn't matter because many nations putting together CBDCs are never going to use Swift I don't care if it had the best technology in the world. “
15:39 The Petro Yuan: China's Digital Currency in International Trade
💣 Truth bomb 💣
“We're seeing the first use of the Chinese Yuan and it now can be premature but we can call it the Petro Yuan and it's no surprise the the that China is looking to use its yuan or RMB to purchase oil.”
25:43 Digital Public Infrastructure: India's Leap in Payment Systems
💣 Truth bomb 💣
“India and China have revisualized payments as a free or near free service as a social or public good. The term India uses is digital public infrastructure. It is infrastructure run by the state for the public good to be used and it's used by a mix of Banks and normal financial institutions and the general public and the key service is called UPI.”
31:17 The Future of Wallets and Digital Payments
💣 Truth bomb 💣
“Big card networks should be terrified! Brazil’s Pix caused a 15% drop in credit card use in Brazil which is the most like the West. China too showed a big drop in card use.
“Google and Apple Pay Wallets are pathetic examples of digital wallets!”
36:42 Closing Thoughts and Digital Identity
💣 Truth bomb 💣
“We are running a digital society with an ID system that is rooted on pictures on drivers licenses.”
Hope you enjoyed the podcast!
Thoughts?
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