In this week's Digital Bytes we have analysis on the following topics:
Apple, Amazon, Facebook, Google, Microsoft see their staff resigning to join a host of Blockchain and Digital Asset-focused firms - the ‘great resignation’ trend in the US has seen over 33 million people leave their jobs as they seek higher pay and new companies which align with their personal goals. Many of Silicon Valley’s global titans are fighting to hold onto those staff who are leaving to join companies actively engaged in the development of Blockchain and Digital Assets services, a lot of whom champion a more decentralised way of doing business.
Decentralisation is bigger than Bitcoin - with the Commonwealth Bank of Australia (Australia’s largest bank) offering crypto trading in its mobile app together with CBDCs gaining interest, is there something more ominous on the horizon knocking on the doors of the decentralised token economy?
Not all FinTech firms, shops and on-line merchants are adopting cryptocurrencies (but many are) -growing interest in digital currencies is evident, including cryptocurrencies, given the increase in the number of digital wallets globally. Whilst the ‘fear of missing out’ (FOMO) is driving people’s attention, FinTech firms are making it simpler for users to buy and sell goods and services digitally - often bypassing the banks’ existing payments infrastructure.
Tokenisation will change society - tokens are certainly changing society. Tokenisation has the potential to open up the financial system to anyone around the world, as long as the infrastructure to exchange those tokenised assets is there. For adoption of tokenisation, it is important that the community and regulators work together to develop clear standards and regulatory frameworks. A robust regulatory framework will undoubtedly reduce regulatory risks, enable innovation by providing clarity around the rules of tokenised ecosystems and allow incumbents to open up for new companies. Standardised taxonomy and terminology and education of stakeholders is vital in achieving this.
Currently in Australia doing presentations for a series of clients here and interesting to see how much interest there is in Blockchain and Digital Assets.
Please do keep your feedback coming and if you have a topic that you would like us to cover do let us know.
Jonny Fry / James Tylee of Digital Bytes by Team Blockchain on Cyber.FM featuring Alex Bausch from 2 Tokens