In this podcast chat, I talked about how to build wealth in this new age, how traditional banks are finding it difficult to accept digital assets, and how the personalization of finance is changing society. With the introduction of blockchain and AI, the financial and healthcare industries are seeing a significant shift.
Wealth creation in the digital age:
I emphasized the necessity for a diversified wealth approach, noting that funds account for 25% of my net worth, mortgages for 70%, and emerging asset classes like bitcoin for 10% to 15%. Even if developing technologies aren’t completely understood initially, investing in them is crucial for staying ahead of the financial curve.
Challenges for traditional banks:
Traditional banks are under immense pressure to adapt to digital assets and cryptocurrencies. Traditional banks are embracing these changes, many others remain cautious, highlighting the need for forums where traditional banks and fintech companies can exchange ideas.
Personalization of finance:
I also talked about the wider trend of financial personalisation and how it affects society. My next book tackles how a greater degree of ownership over one’s digital assets and personal money is impacting governance and regulation by creating more personalised society structures.
Listen to the episode:
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