Crypto

The trial of Sam Bankman-Fried, founder and creator of what many call a Ponzi scheme called FTX, has started in New York. FTX was a cryptocurrency exchange that, like MtGox a decade before, lost millions/billions of dollars of investor’s money. C’est la vie. There’s lots of reportage out there about the trial, the background, the…

This is quite a complicated update, but it came to mind when I saw that JPMorgan analysts are predicting stablecoins could destabilise the traditional financial markets. This is because the Federal Reserve decided in April that money funds created for the sole purpose of accessing its overnight reverse repo facility, which is called ON RRP,…

When I was a lad – a good start for any commentary – we didn’t know nothing about money. I got pocket money from my dad but, if I begged hard enough and long enough, my dad would relent and buy me that Batman Corgi car I had been lusting after. At school, they taught…

It’s coming. It’s been talked about for years. It’s finally here. Tokens. Physical and digital assets are being tokenized. In fact, maybe your DNA has been tokenized. Soon, everything will be tokenized. We talked about this years ago, but it’s notable that VISA, SWIFT, BNY Mellon and JP Morgan are now tokenizing. In a number…

It used to be simple: you died, left a will, told everyone where the money was, they shared it. Now, is it more complex? You die, leave a will, tell everyone where the money is … but the password was changed or has expired or your account is inaccessible for various reasons, as in you…

We’ve talked for years about the need for micropayments. I can remember in the 1990s that the pay-per-view model demanded a payment for a single piece of information. Why should I subscribe for $30 a month to a website where one article has become relevant? Surely, I could pay $0.50 cents to read that one…

I think it is time to launch a website of cryptoscams so yes, I’ve done it. It’s called cryptocrim.com, a space where all the crypto criminals will be thrown into Room 101, a place where you can consign anything you hate to history (although George Orwell had other ideas). The new site will be live…

I spend a lot of time thinking about the way the network is impacting finance. The network is the network of citizens, enabled by mobile smartphones, the internet and cloud computing. The result is that everything can be developed and delivered on a peer-to-peer decentralised basis. The knock-on effect is that governments and centralised institutions…

Those who read my blog often know that I see FinTech as the partnership between old bankers and young technology visionaries or, in context, a parent-child relationship. The parent wants stability and to maintain the status quo; the child wants to break down barriers and change the world. That’s a tough alignment, especially if you…

I stumbled over this phrase the other day – The Office of the CFO – and thought it was interesting. It’s interesting because, as a Chief Financial Officer, CFO, you need to show knowledge and depth about money. That’s your job. So, as a CFO, what would you do today? Place money in a bank…