Brett Scott presented his new book “Cloud Money – Cash, Cards, Crypto and the war for our wallets” on Friday February 17, 2023 at a monneta online conference.

The digitization of money is tightening the link between Big Tech and Big Finance. Our data, especially our payment data, is the gold of the future.

Will the greatest power of the future be in the hands of those, who can access and use our data?
Who benefits from a cashless society and who gets left behind?
How can democracies prevent mass surveillance, censorship and manipulation on the basis of Big Data?

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In this video Brett Scott recap the three layers of the fiat money system, and how the cryptocurrency movement (beginning with Bitcoin) attempted to launch an invasion of that system, before exploring a potential shortcoming in the monetary design of traditional cryptocurrencies. This takes us on a detour into commodity versus credit theories of money, and then leads into a showcase of the world of ‘stablecoins’, which hybridise fiat and cryptocurrency systems. I look at central bank digital currencies (CBDCs), which are emerging at the intersection of crypto and the war on physical cash, and set up the fourth video in this series, which will look at next-wave mutual credit systems.

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To see Part 2 of this series, see here https://youtu.be/lmSdb5t2F6I. Part 1 can be found here https://youtu.be/mmWOO7r_NMw

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Do flaws in our monetary system consistently cause financial crises?
So far, critical questions concerning our monetary system and the financial crisis have been underexposed.
The new film ‘A Flaw in the Monetary System?’ depicts in 7 ½ minutes consequences of interest and compound interest in the financial world in descriptive graphics. It illustrates the systematic redistribution of money from the majority to the wealthy.

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Mit dem Laden des Videos akzeptieren Sie die Datenschutzerklärung von Vimeo.Mehr erfahren Video laden Vimeo immer entsperren Our MONNETA film team travelled to Brussels to feature Finance Watch, an organisation that has been providing a counter weight to the lobby of the financancial industry since 2011. Since 2017 MONNETA is  an organisational member of Finance […]

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