The Battle for the Future of Money, feat. Lawrence Summers, CZ, Michelle Phan, the Winklevoss brothers, The Chainsmokers and more. [Money Reimagined Episode 4]

The Breakdown

Blockworks

Investing, Business

4.8 • 806 Ratings

🗓️ 30 May 2020

⏱️ 48 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

As the economic dimension of the COVID-19 crisis comes into clearer view, what have we learned about the battle for the future of money? Does the dollar reign supreme? Are within-the-system competitors like the euro or China’s digital yuan gaining ground? Does an outside the system alternative like bitcoin stand a chance? Over the last month, the “Money Reimagined” series has looked at the battle for the future of money. Episode 1 focused on the dollar and why it is simultaneously stronger and more set up to fail than ever before. Catch up: Why the Dollar Has Never Been Stronger or More Set Up to Fail Episode 2 was all about the obvious contenders to replace the dollar such as the euro or China’s currency, especially as they race towards a digital yuan. It also looked at where Facebook’s Libra might fit in the mix. Catch up: The Rise of the Dollar Killers Episode 3 looked at one of the most unique features of this modern currency battle - the fact that there are fundamentally new systems like bitcoin in the running. Can a non-sovereign currency actually be more relevant than global fiats? Catch up: Where Bitcoin Fits in the New Monetary Order This final episode of the “Money Reimagined” series checks in on each of the previous episodes but brings a new set of voices to the mix. Between May 11 and May 14, CoinDesk hosted Consensus:Distributed, a virtual summit featuring some of the leading lights in crypto, finance, economics and pop culture. In this episode, we hear from those voices, including: Lawrence Summers - former U.S. Treasury Secretary Christopher Giancarlo - former Chairman of the CFTC Michelle Phan - YouTube innovator and founder of Ipsy Chaoping Zhao - founder and CEO of Binance The Winklevoss brothers - founders of Gemini The Chainsmokers - Grammy-winning artists Carlota Perez - influential economist

Transcript

Click on a timestamp to play from that location

0:00.0	Welcome back to the Breakdown, Money Reimagined, a special podcast micro series about the battle for the future of money in the post-COVID-19 world.
0:16.0	This episode is sponsored by Aris X, the Stellar Development Foundation, and grayscale digital
0:21.2	large-cap fund.
0:27.0	And now, here's your host, NLW.
0:32.6	Welcome back to The Breakdown's Money Reimagined.
0:36.5	Today we reach the final chapter in our four-part
0:38.8	series on the battle for the future of money. The premise of this series is that there is an
0:43.4	increasingly interesting competitive battle emerging for what the future of money will hold. In our
0:49.8	time, that means not only what government-issued currencies will thrive, but whether new forms of
0:55.0	currencies have a chance, whether it's those issued by corporations or consortiums or decentralized
1:00.3	networks or pseudo-inonymous monetary geniuses that drift quickly into the shadows never to re-emerge.
1:06.3	Episode one was all about the great incumbent, the U.S. dollar.
1:10.2	Despite the ascendance of the money
1:11.9	printer go burr-meem and the idea that excess money printing should cause inflation,
1:17.4	the U.S. dollar has gotten nothing but stronger over the course of this crisis. The place of
1:22.1	the U.S. dollar in the global monetary order and the status of the dollar-denominated
1:25.8	debt in the world clearly creates a
1:28.3	unique and perhaps unexpected reality. Episode two was about the within-the-system contenders,
1:35.3	the euro providing a regionally based alternative, China with its aggressive digital yuan project,
1:40.9	Libra, with its would-have-been could-have-been modern-day bank or, a return to the idea of a
1:45.6	supernatural basket-based currency like John Maynard Keynes proposed and was summarily outvoted on at
1:51.3	Bretton Woods. Episode 3 was all about whether there was any possibility that an outside of the
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Blockworks, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Blockworks and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.