💭 Financial revolutions

Our financial system is changing to meet the needs of the new economy.

On returning from my family trip, I was straight into the work week with a number of conversations that revolved around the nature of finance.

I had a brilliant working session with Carlota Perez, whose Technological Revolutions and Financial Capital I frequently quote. We discussed how the financial system will evolve as we shift to a new ‘technological paradigm.’ You’ll get to hear Carlota and I discuss these issues in the new season of the podcast.

That shift is underway—and it is why Exponential View exists, and presumably why you are reading this. Norms, behaviours, regulations institutions all change during such shifts. So it is not surprising that the financial sector does too.

I followed this with a quick trip to Sweden exploring similar issues with senior bank executives. Sweden is particularly interesting because it has leapt ahead of other markets both in the uptake of digital ID and electronic cash. It has done so by delivering collectively-operated utility-like solutions …