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27th September 2021 > > Real-life applications.

tl;dr

Cryptos are a transformative technology, but I can't help wishing progress was faster.


Market Snap







Market Wrap

With no decisive outcome in the German elections (there’s a surprise) and months of negotiations ahead the ECB will not change its course. QE is here to stay for the foreseeable.


Back in the mists of time – when central banks had rational reasons for their decisions, and the yield curve wasn’t being manipulated to benefit those with hard assets – months of uncertainty about the direction of economic policy in Germany would lead to a reduction in appetite for risk assets.


Instead, risk assets are up following this news.


The distortion in markets that we see today because of governments’ immoral manipulation of the yield curve means that risk assets benefit from uncertainty.


That just cannot be right in anyone’s book.


Occasional Series - Politics

Hands up everyone who believes that all Tories are “a bunch of scum” and should be called out for it, a la Angela Rayner, Deputy Leader of the Labour Party?


Politics is a dirty business, but Angela has both the ability and the duty to contribute far more to public debate than simply chucking around childish playground insults.


Occasional Series – Rosie Duffield and trans politics

Or maybe not.


Curious Cryptos’ Commentary – Real-life applications of blockchain technology

I must admit that the CCC is somewhat disappointed.


The CCC has been shouting from the roof tops for half a decade or more about the transformative power that blockchain tech can bestow on humankind, but in truth there has been scant real-life evidence to support my conviction.


There has been some progress. We shouldn’t underestimate what has already been achieved in such a short space of time.


The first and obvious application of block chain tech – cryptocurrencies – is already wildly successful, and we haven’t even properly started the crypto revolution yet.


The influence of cryptos on the financial services industry is growing and is already leading to some significant changes. The (fiat denominated) resources being put to work by both financial institutions and their institutional clients increases by the day.


Some of the smartest people in finance recognise that cryptos is the new land of opportunity. The naysayers – let us say J.P. Morgan in cahoots with the Financial Times for example – are going to regret being left behind.


But, but, but …


Beyond the narrow region of financial investments and payments services, blockchain tech has so much to offer, with so little progress to date.


It could be so different.


The standardisation of legal agreements based on the concept of smart contracts will be one of the most productive developments in the last 2,000 years.


Ownership of your own data, rather than being exploited by social media companies, will transform the relationship between the retail consumer and those companies selling to us as individuals (we will get paid, not the likes of FB et al).


The application of zero-knowledge proofs, especially in the arena of self-identification, will revolutionise our concepts and demands about privacy, to the detriment of self-aggrandising and controlling politicians, civil servants, and bureaucrats.


Supply chain information, that enables consumers to avoid blood diamonds or goods manufactured by Uyghur Muslims oppressed on pain of torture or death, will be demonstrably successful by reigning in the power of megalomaniacal dictators.


And those are just the first four thoughts I have on the top of my head for the application of blockchain tech.


But none of this seems to be happening to any great degree.


Am I just a dreamer?


Have I got it wrong all this time?

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