During an engaging discussion with Kris Ferguson and Gabor Sztvorec on the Money Seed Podcast, I shared my perspectives on entrepreneurship, the dynamic global business environment, and the ever-changing realm of decentralised finance (DeFi). Throughout our conversation, I expressed my concerns about how central bank digital currencies (CBDCs) are progressing in the United States.
Here are some other key points:
● DeFi challenges traditional banking by directly connecting borrowers and lenders on peer-to-peer platforms.
● The disconnect between central banks and everyday people, along with trust issues, will hinder the success of CBDCs.
● The state and the private sector are coexisting, and funding is more accessible for states, allowing them to compete with private sector innovations.
● Finance is evolving to empower end-users, allowing them to create personalised financial products.
● External data’s growing importance is emphasised over internal data for financial institutions.
● ChatGPT technology transforms finance by turning conversations into a significant product.
Listen to the episode: