31st August 2022 Digital Bytes

Welcome to this week’s Digital Bytes. This week we have analysis on the following topics:

The rise of ‘digital nomads’ and decentralised autonomous organisations (DAOs) - it is estimated that by 2035 there could be as many as one billion digital nomads globally, which could generate $5.5trillion of tax revenues. No wonder governments are scrambling to attract these young, mobile and well-educated workers. At the same time, as workers are becoming decentralised, we are also seeing the emergence of new types of decentralised governance to run businesses (DAOs) and decentralised financial products and services (DeFi). So, how will governments and regulators respond?

Lessons from the failure of Halifax Bank of Scotland and the Prudential Regulatory Authority’s final decision to take no action on the senior management’s actions - Halifax Bank of Scotland had billions of taxpayers’ money pumped into it to keep it from failing and whilst the Parliamentary Commission on Banking Standards raised…