A highlight from Bitcoin and the New Non-Governmental Monetary Reality

Automatic TRANSCRIPT

Against your digital assets at just five point nine percent apr earn passive income with yields of up to twelve percent and swap between more than seventy five market pairs. With the instant. Mac so exchange. Try the next wallet app to get the whole hundred. Sixty degrees of crypto banking get started at Dot io there's one final component to the argument for fiduciaries to allocate the bitcoin and that is human freedom in the west. It's incredibly easy to ignore bitcoin's potential as a tool for financial empowerment. Bitcoin receives demand from those looking to make a political statement against the monetary policy of the federal reserve and the european central bank. But we live in a world with serious problems plaguing our planet such as environmental destruction human trafficking and politically caused inflation today. So many fiduciaries are not only responsible for investment performance but also for advancing corporate responsibility and positively influencing societal change financial index publisher. Mcs i now. Provides es g environmental social and governance ratings for over fourteen thousand corporate issuers as sustainable investing is transforming the entire approach to investment management with bitcoin acting as an alternative and inflation ravaged countries such as venezuela argentina and nigeria. It has the potential to alleviate human strife maybe after reading this article fiduciaries might suppress their own fears of crypto volatility to simultaneously pursue superior investment returns and social impact. So back to nl. W this time and this one is a little bit shorter as my long reads sunday go. I feel like the last few have been like thirty. Five minute beasts of course. Because they've been nick carter tomes but the thing that i love about this piece and that i wanted to hone in on. Is this concept right here. An understanding that the world's denomination is slowly changing not away from the dollar to the arm beer euro but away from a dependence on government issued currencies to me one of the most remarkable perhaps these central remarkable thing about bitcoin. Ease in exactly this. It creates for the first time in modern history. A non-state alternative to state the currency's it offers indeed an entirely parallel financial system. That well plugged into the state. Run system is ultimately independent in of itself. This is why we can say with a straight face. That governments can't ban bitcoin. It's not the camp. Make it extraordinarily difficult even outright criminal for their citizens to interact with bitcoin. The functional reality is that a government taking that position is actually just banning their citizens from interacting with the bitcoin network. They're damning them to get farther behind a world in which interacting with bitcoin is increasingly important. Part of the biggest difference between the way that bitcoin or see the future in the way that non bitcoin is see the future has to do with presumptions about the continuance of state power. Bitcoin is on this question. Fall in full huge range of different opinions from those who believe and even want a future in which states are extremely reduced in their power to those who simply believe that in an internet world in which people are constantly connecting with people from other places other regions other jurisdictions from anywhere working from anywhere are not more convenient but fundamentally normalized creates a very different relationship to people and geography in other words. The state is inherently geography geography based construction. Its power is based on its geography to the extent that we live in internet world in which geography is less important than ever state. Power will necessarily decrease over time even if not in some big dramatic fashion now. Of course there are other countervailing forces to read peter's aon you might come away thinking that we've actually reached peak geography not mattering and are moving back into a world. Where geography matters very much and his theory that has to do with the us leaving the role that has occupied for the last fifty years of being the world's policeman whatever the case it's hard for me not to believe that the internet world the world that exists outside of convenience state borders is going to do anything but get stronger. We haven't even really yet seen the true impact of virtual reality and what it will do to the way that people choose to live their lives in those worlds not just fully virtual worlds virtual reality but simply the internet world where people's connections and worker based on strangers they interact with the internet but not in real life. Internet native currencies are likely to make more and more sense and internet. Native power sources are likely to claim away some of the power once held by the state. Now that's a pretty deep conversation. Starting from the point of asset managers have a duty to hold bitcoin. But i think that. That's the conversation that nick invited and i'm here for it and guys. I hope you're having a great weekend. I appreciate you listening until tomorrow. Be safe and take care of each other piece. We're witnessing the greatest paradigm shift in finance in modern history. Join thousands of newsmakers and influencers talking the future of money consensus by coin desk alive virtual experience of leaders change makers virtual reality meetups keynotes from rain. Dally gary viner chuck and much more. Get an up close. Look at the boom. In crypto the surge institutional investment in bitcoin the teen mania the breakneck innovation and decentralized finance. And the coming disruption from central bank digital currencies the breakdown listeners can visit evinced point desk dot com and use the promo code breakdown to save twenty five dollars today. Join us may twenty four th remain twenty-seven for consensus by coin desk and register today at events dot coin dot com. Because ticket prices. Go up at the end of this month. Thanks for listening and we'll see you there.

Coming up next