BREAKDOWN: The World Economy's 'Transitory' Supply Chain Issues Don't Seem so Transitory After All

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CoinDesk

Business News, Daily News, News, Tech News

4.7 • 698 Ratings

🗓️ 26 August 2021

⏱️ 16 minutes

🔗️ Recording | iTunes | RSS

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Summary

An exploration of the history of global supply chains provides insight into just how fast – or slow – the return to normal may be. This episode is sponsored by NYDIG. First, on the Brief: Bitcoin hash power coming back online A new millionaire testing out crypto An emerging music tokenization platform Bitcoin saw a significant drop in hashrate after China’s mining bans. The network accordingly implemented its largest difficulty adjustment, a parameter to adjust incentives for mining, to date. Has this adjustment worked? In investments, Simon Nixon, one of the winners of the dot-com bubble, has emerged as the newest millionaire to delve into crypto. Last on the Brief, Royal announced a $16 million raise for its music tokenization platform, the aim of which is to give more power to the artists when it comes to royalty rights. In the main discussion: With inflation on the minds of many economists and consumers, the Federal Reserve pushed a “transitory” narrative while pinning the blame on supply chain issues. Looking back at the history of supply chains reveals why COVID-19 broke the global goods network. Are the supply chain issues going to be as transitory as the Fed hopes? - NYDIG, the institutional-grade platform for Bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW. - “The Breakdown” is written, produced by and features NLW, with editing by Rob Mitchell and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Only in Time” by Abloom. Image credit: MR.Cole_Photographer/Moment/Getty Images, modified by CoinDesk. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Transcript

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0:43.9	Wondery, UK. That's audible.com slash Wondery UK.
0:49.7	This podcast isn't meant to be some Bitcoin or scoring points on the dominant inflation
0:53.4	conversation, although yeah, it does seem like one of the big things driving inflation
0:57.3	is pretty well unresolved. Instead, it's to point out that the disruptions and dislocations
1:02.1	of the last 18 months are not only not solved, they're metastasizing and creating their
1:06.9	own set of new problems. In the short term, people in industries will clamor to make
1:11.2	due and figure out solutions that involve the minimum possible disruptions. In the long term,
1:15.6	however, the implications could be a much bigger rethinking of how the economic world is organized.
1:22.6	Welcome back to The Breakdown with me, NLW. It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world.
1:33.8	The breakdown is sponsored by Nidig and produced and distributed by CoinDisc.
1:40.3	What's going on, guys? It is Thursday, August 26th, and today we are talking about why the world's transitory supply chain issues are not seeming so transitory after all.
1:52.9	First up, however, let's do the brief. First on the brief today, Bitcoin mining is back.
1:59.0	When China's Bitcoin mining ban when to effect, we saw a massive drop in
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