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The John Batchelor Show

#Bestof2021: Predictions of the world before the Ukraine War started and the pandemic ended. 2/2:The Future of Everything. Tom Standage @Economist

The John Batchelor Show

John Batchelor

Society & Culture, Arts, News, Books

4.52.8K Ratings

🗓️ 1 April 2023

⏱️ 9 minutes

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@Batchelorshow

#Bestof2021: Predictions of the world before the Ukraine War started and the pandemic ended. 2/2:The Future of Everything. Tom Standage @Economist

https://www.economist.com/the-world-ahead/2021/11/08/china-hopes-to-flaunt-the-merits-of-its-political-system-over-americas?utm_medium=pr&utm_source=inf-a

Transcript

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0:00.0

I wear a few different hats as a CFO, you know, sometimes it's referred to as chief fixing officer.

0:05.0

Wherever there's a fire in the business, you know, I'm often there first.

0:11.0

Whatever hats CFOs like him run need to wear, Sages, tools and insights can make sure they fit.

0:18.0

Sage, helping business flow.

0:20.0

World, I'm John Batsle with Tom Sandwich. He is the editor of the Economist, the World Ahead 2022.

0:27.0

Ten things to watch out for that we may have an answer to a year from now or not.

0:32.0

Crypto, much in the news because of Bitcoin and its skyrocketing and then its plunge and then its skyrocketing.

0:39.0

But there are many other cryptocurrencies being invented all the time and crypto services.

0:45.0

What are they is not the pursuit? The question is what will they become?

0:50.0

Because right now there's a contest if I understand correctly between people who identify with DeFi, people who identify with central banks,

0:59.0

and then there's the world of technology that doesn't count on a lack of reality to exchange goods.

1:07.0

Tom, this is such a tangle I can't summarize it other than the fact that the Economist had a spectacular auction recently,

1:14.0

of one of your cover illustrations about Alice and Wonderland and the rabbit plunging down the rabbit hole with cryptocurrencies.

1:22.0

It was a great success and none of that is possible without crypto.

1:26.0

Is that the way forward in 2022? Make crypto work for us?

1:31.0

It's one of the possible ways forward.

1:33.0

So what we tend to see with disruptive technologies is that the people who first adopt them become very messianic about them.

1:39.0

And they're like this is going to change everything, it's going to blow up everything, it's going to change the world.

1:44.0

And what tends to happen is that these exciting new technologies end up being domesticated.

1:49.0

They end up being tamed and the incumbent, the old fashioned way of doing things,

1:53.0

sort of reaches some accommodation with the new way of doing things.

1:57.0

And we're seeing that happen in the world of finance now.

...

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