This week we are joined from Monaco by the founder of Krainer Analytics, Alex Krainer AKA, The Naked Hedgie.
The financial world is changing quickly. CBDC's, UBI, crypto and Ai have potentially massive consequences to how we live our lives. How can we avoid the forthcoming digital prison system?
 
Find Alex here:
Twitter - https://twitter.com/NakedHedgie
From the web:
Universal Basic Income (UBI) is a financial security program where a government provides its citizens with a regular, unconditional sum of money, regardless of their employment status or wealth. The key characteristics of UBI are:
Universality: It is provided to all individuals without means testing.
Unconditionality: There are no requirements to work or perform any other activity to receive it.
Regular Payments: It is typically distributed on a regular basis, such as monthly or weekly.
Cash Payment: The benefit is given in the form of cash rather than vouchers or services.

The concept is designed to ensure that everyone has enough money to cover their basic needs, creating a safety net that could help to reduce poverty and inequality. Trials and discussions around UBI have been conducted in various countries to explore its potential benefits and challenges.
Supporters argue that UBI can simplify the welfare system, reduce poverty, and provide financial stability amidst disruptions like automation and economic crises. Critics, however, raise concerns about the cost of such a program and its potential to disincentivize work.
 
Central Bank Digital Currencies (CBDCs) are the digital form of a country’s fiat currency, issued by the nation’s central bank. Here’s a brief overview:
Digital Form of Fiat Currency: CBDCs are a digital representation of a country’s official currency.
Issued by Central Banks: Unlike cryptocurrencies, which are issued by private entities, CBDCs are issued by central banks, making them a legal tender backed by the government.
Stability and Security: CBDCs aim to offer the stability and security associated with traditional currencies while leveraging the benefits of digital technology.
Financial Inclusion: They are designed to promote financial inclusion and simplify the implementation of monetary and fiscal policy.
Not Cryptocurrency: CBDCs differ from cryptocurrencies like Bitcoin or Ethereum in that they are not volatile and are regulated by the issuing country’s monetary authority.

Countries around the world, including the UK, USA, China, and the EU, are exploring or have already implemented CBDCs to adapt to the increasing digitization of the financial system. They represent a significant step towards modernising the financial infrastructure and could potentially transform the way we think about money and banking.
 
#digitalprison #CBDC #UBI
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Producer Credits for Ep 326: 
Executive Producer - Mixtut
Producers - General Lee, Jonny Fogg, Aliyah
This week's artist - Helen
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