With the publishing of a highly anticipated report on US central bank digital currency (CDBC) last Thursday, CDBC’s will likely get more media coverage. A CBDC would serve as a purely digital version of cash that’s backed by the Fed and just as available to the public as physical cash. This recent article describes both the pros and cons of a CDBC. One big pro is that a CBDC could bring safe, fast, and accessible payments. An example of a con is:Continue reading
A recent book explores aspects of a broader Convergence story. The book – 2030: How Today’s Biggest Trends Will Collide and Reshape the Future of Everything – was authored by Mauro F. Guillen. In exploring a number of trends, he shows how the only effective way to understand the global transformations underway is to think laterally. Said another way, we need to think at the systems level. Understanding pieces in isolation blinds us to the combinatorial nature of change. The book abstract says it this way:Continue reading
I just finished another great book: Beyond Blockchain: The Death of the Dollar and the Rise of Digital Currency. I just added it to my Book Library and highly recommend the read. Author Erik Townsend has a great blend of financial and software expertise, making him uniquely qualified to talk on the topic. He explores a wide range of topics from the basics of money to global scale digital currencies.
Although launched in early 2019, the book is very timely given the current geopolitical environment. Mr. Townsend does a great job of describing various aspects of our financial system, thereby building a foundation of knowledge that makes the discussion of digital currency more impactful. Although a big proponent of cryptocurrencies and the values and motivations of the original inventors, he is a pragmatist and practical thinker – which I found very refreshing.
Every morning, I scan the horizon. Horizon Scanning is a systematic process that serves as an early warning system to inform decision makers about possible futures. It identifies actions, innovations, and events that have the potential to alter our future, both positive and negative. I am struck by the sheer volume of news, areas to consider, and emerging building blocks that are likely to impact society. The Possibilities – both good and bad – seem endless.
Thinking about the Future should be a normal part of every leaders day. With so many building blocks to consider, the need to understand them intensifies, as well as the various ways they are connecting. A Canvas that helps us to visualize can be very helpful. My scanning this morning underscores just how much to consider. In a short period of time, I explored the World Economic Forum’s continued focus on Purpose. Having just written about How Different Jobs will be in the next ten years, I read another Article on the need for a Global Reskilling revolution. As the world explores a profound shift in our energy paradigm, I learned that the windows in our buildings will provide all the Energy Required. The foundational elements of society are shifting. Even money is likely to transform, as Central Banks study the possibilities of Digital Currencies.
So, scan away my friends, the horizon is approaching rapidly.