Late for that, ah I remember talking to an Australian diplomat at one point about this break between the US and China and said, both sides are going to say, whose team are you on? And he said, our job is to make sure the question never arises. But the question has arisen. And so I think we have to go deeper. And it’s not about the US versus China. It’s about what underpins a world order is always the financial system.
I was very privileged. My father was an advisor to Nixon when they came off the gold standard in 1971. So I was brought up with a kind of inside view of how very important the financial structure is to absolutely everything else.
WEF Disscusion on Abondoning Traditional Money for Digital
What we’re seeing in the world today, I think, is we are in the brink of a dramatic change where we are about to, and I’ll say this boldly, we’re about to abandon the traditional system of money and accounting and introduce a new one. And the new one, the new accounting, is what we call blockchain. It means digital. It means having an almost perfect record of every single transaction that happens in the economy, which will give us far greater clarity over what’s going on.
WEF – Needing Digital Constitution of Human Rights (Not in a good Way)
It also raises huge dangers in terms of the balance of power between states and citizens. In my opinion, we’re going to need a digital constitution of human rights if we’re going to have digital money. But also this new money will be sovereign in nature.
Most people think that digital money is crypto and private. But what I see are superpowers introducing digital currency. The Chinese were the first. The US is on the brink, I think, of moving in the same direction. The Europeans have committed to that as well.
