Digital Finance Analytics (DFA) Blog
"Intelligent Insight"
This is an edited version of our latest live show, with Damien Klassen, Head of Investments At Nucleus Wealth and Walk The World Funds.
In the show we did a deep dive on AI, discussed the RBA decision and its consequences and the broader investment environment.
http://www.martinnorth.com/
Go to the Walk The World Universe at https://walktheworld.com.au
I caught up with Adam Stokes, for a review of 2022 and into 2023. The Crypto community took a number of body blows in the year, most notably the failure of FTX, against the backcloth of Central Bank Digital Currency pilots and calls for increased regulation.
And how does all this play into the need to control inflation, and for sound money? Where might 2023 take us?
https://www.youtube.com/@UC_LynnVoF0RJV6BjNJW26Ig
http://www.martinnorth.com/
Go to the Walk The World Universe at https://walktheworld.com.au/
I caught up with the CEO of BTC Markets to discuss the broader perspectives on Crypto in the light of FTX.
https://www.btcmarkets.net/about-us
Perhaps we should be careful not to put the baby out with the bathwater!
“Our vision is to build the digital financial infrastructure for the future. We are moving forward with that overarching and audacious strategy and can clearly see how this will roll out.” Caroline Bowler CEO, BTC Markets
Go to the Walk The World Universe at https://walktheworld.com.au/
Have your say on the imposition of Central Bank Digital Currencies, via a petition, open to the 21st December 2022 on the Government Website. More than 7,666 have already signed.
https://www.aph.gov.au/e-petitions/petition/EN4638
As Australian citizens we should be concerned about the disadvantages of a Central Bank Digital Currency. Traceability: In the case where physical cash is eliminated entirely this eliminates our ability to transact in a fully anonymous manner. Negative Rates: With CBDCs, you cannot withdraw your digital tokens and hold them under the mattress. If there is no option for physical cash this gives central banks ability to implement negative interest rates. Programmability: CBDCs give central banks a unique opportunity to make money “programmable”. For example: Expiration, with a direct relationship with your central bank, CBDCs could permit a currency expiration policy. Your money could be programmed so that if you don’t spend the $5000 in your account by next Saturday, it will expire. Personalised monetary policy: With a bank of Big Data on individual spending habits, coupled with digital identification infrastructure, the central bank will have enough information to tailor its monetary policy personally. For example if it is known that lower earners have a higher propensity to consume, stimulus can be directly delivered to those people. Personalised monetary policy could even become politicised. A government could segment its voters, identify communities where it is behind in polls, and deliver stimulus to these groups.
Petition Request
We therefore ask the House to enshrine the use of cash in law.
Go to the Walk The World Universe at https://walktheworld.com.au/
The FTX Story continues to run with reports of missing funds and deceptions. In Australia, ASIC appears to have been asleep again, as we find that the local instance of FTX – who owes money to some 30,000 investors – used a back door method of get a local license to operate.
So once again the Financial cop was found wanting!
Go to the Walk The World Universe at https://walktheworld.com.au/
Here is a downloadable version of the letter Dale Webster (The Regional) and I sent to the member of the Senate Standing Committee on Rural and Regional Affairs and Transport about the economic impact of in-person banking being systematically removed across the country.
More bad news from the fallout from FTX, with derivatives and lending now under questions. Genesis, derivative business has a hole and Gemini is also under pressure. The industry is tied in knots, and the links back to major players means risks are stacked on risks, totally unregulated!
Go to the Walk The World Universe at https://walktheworld.com.au/
This is an edited version of a live discussion about the current FTX debacle, the trajectory of Crypto, and the rise of Central Bank Digital Currencies. Is the future one of “harder, faster safer money”?
https://www.youtube.com/c/AdamStokes24
Go to the Walk The World Universe at https://walktheworld.com.au/
Join us at 8pm Sydney time for our regular live event this week we will be looking at the latest ructions in Crypto, and what we can learn from it, as well as how Central Bank Digital Currencies are playing into the argument.
If one Bitcoin always worth one Bitcoin, how does the concept of “trust” play into the evolution of digital finance?
As the collapse of Sam Bankman-Fried’s FTX crypto exchange ricochets through the industry, this has not been a good week for Bitcoin and the Crypto community more generally.
And now we are beginning to see arguments emerging suggesting first that Bitcoin is not the same a Crypto, and second, we see Digital asset exchanges rushing to reassure clients that their funds are safe.
For example, Coinbase sent an email to customers explaining “how Coinbase’s business is different and ultimately better protects” customer accounts and assets. Yet the biggest crypto exchange Binance’s chief executive warned last week of the potential for a “cascading” crisis in the crypto sector in the wake of FTX’s failure, which he said could resemble the 2008 global financial crisis.
The total value of Crypto including Bitcoin fell again to around $940 billion US dollars, compared with a peak of over 3 trillion dollars. So Crypto is under the microscope as never before.
https://youtu.be/lOjdw5l_Ngg – DFA Live Tuesday 15th Nov 2022
Go to the Walk The World Universe at https://walktheworld.com.au/