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Former Goldman CFO breaks down why the digital dollar is better than bitcoin and stablecoins

Former Goldman CFO breaks down why the digital dollar is better than bitcoin and stablecoins

FromThe Scoop


Former Goldman CFO breaks down why the digital dollar is better than bitcoin and stablecoins

FromThe Scoop

ratings:
Length:
59 minutes
Released:
Jul 8, 2020
Format:
Podcast episode

Description

R. Martin Chavez left his Goldman Sachs office in December after decades of work bringing new technology to Wall Street, most recently as Goldman's CFO, though his career began in Silicon Valley. Now, he's returned to the tech world, where he serves on the boards of health technology firms and has gotten involved in the conversation around the "digital dollar."
On this week's episode of The Scoop, Chavez broke down some of the changes that have occurred at the intersection of health and technology due to the global pandemic. For instance, a world in quarantine has breathed new life into the field of telemedicine. He also explained why although he sees bitcoin as "an amazing research project," it doesn't quite qualify as money in his view.
Chavez compared the coronavirus pandemic to the 2008 financial crisis, in that they are both wake up calls for policymakers. He said the pandemic has been a moment to examine how to build better systems, particularly in the health tech and industrial fields.
Meanwhile, it's also illuminated the potential role of a U.S. central bank digital currency as a mechanism for stimulus delivery. While Chavez advocated for a blockchain-based digital dollar, he doesn't think private stablecoins are a suitable stand-in. "Stablecoins are stable right up until the instant that they're not stable," he said. 
Here are some of the more specific topics featured in the episode:

The themes and trends emerging in the health technology space that will be salient in a post COVID-19 world

How the pandemic illuminated the need for resilience in industrial companies and how technology can play a role in reform

What legislation is needed to reform industries that were hit hard, and how to prepare a more resilient supply chain

Why the former Wall Streeter and long time tech advocate says bitcoin isn't money

His view on central bank digital currencies and why stablecoins alone won't do the job of a digital dollar.


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Released:
Jul 8, 2020
Format:
Podcast episode

Titles in the series (100)

Welcome to The Scoop, The Block's flagship podcast covering finance and technology industries through unmatched interviews with top thought leaders, cultural icons and industry veterans. The Block’s Director of News Frank Chaparro hosts new guests every week, diving into breaking news and topics ranging from NFTs, to the impact of DeFi on Wall Street, to Bitcoin's role in the economy and beyond.