The debate on the future of money is not about inflation or deflation, fixed or flexible exchange rates,gold or paper standards, but about the kind of society in which money is to operate. – Georg Simmel, German philosopher and sociologist Over the centuries, we’ve learned of many forms of money and technological advancement across different […]
Tag: Monetary System
FinTech in Africa: After Payments What Next?
The pandemic has intensified the role of digitization, banks cutting costs, with customers handling transactions on their phones. Banks and fintech companies are competing for market share, sometimes collaborating, and competing to recruit top talents. Many African consumers are unbanked, underbanked, and underserved. Lack of access to financial services, especially in rural areas, affordability, expensive […]
Central Bank Digital Currency vs Cryptocurrency: What We Need to Know
Bitcoin and other cryptocurrencies have become an increasingly established part of the financial landscape. Bitcoin has become a reference point for controversy since it was introduced to the world. Licit and illicit traders quickly adopted cryptocurrency. One of the primary concerns for governments is the use of cryptocurrency as a means to accommodate illegal financial transactions and anonymity. […]
Cross-border Payments: Forging a path to financial inclusion in Africa
It’s been an explosive season in the financial industry. Just when some government and experts thought the industry couldn’t shift exponentially, the financial landscape keeps shifting. We are having local fintech leaders ramping up their ambition for global dominance. Yet, most innovations are around payments. Of course, payment is the first step for what’s to […]
Cryptocurrencies: Official Digital Currencies vs Parallel Market Currencies
The debate on the future of money is not about inflation or deflation, fixed or flexible exchange rates,gold or paper standards, but about the kind of society in which money is to operate. – Georg Simmel, German sociologist What is a parallel Market? A parallel market is an unofficial market in goods or currencies, especially […]
NFT: Could This Be The Next Generation Side Hustle?
Even if you hate or don’t understand NFTs, it’s worth paying attention to. Non-fungible tokens (NFTs) are the hottest trend for the past couple of months. We talked a bit about NFT in Tokens: Next Generation Capital.
We are seeing headlines about people making tons of money from selling NFTs. Many of us still don’t really understand what an NFT is. The creator of Bitcoin would have probably never guessed that the world would trade digital assets as NFTs. NFT is the latest trending iteration out of blockchain.
Tokens: Next Generation Capital
85% of central banks are considering digital currencies. The tedious process, overhead costs, and other costs associated with paper currency prohibit financial inclusion and explosive innovation in the financial market and economy at large. Digital currencies unlock broader possibilities for the unbanked and those excluded from the financial market. An area worth looking into is […]
DeFi Dominion: Could this be the future of Investment Capital in Africa?
Centralized finance (CeFi) has dominated the financial market since the digitization of finance. We have had to succumb to expensive financial intermediaries who bury us in paperwork and elusive operations. This impediment has spurred the blockchain/cryptocurrency movement and its growing army of devotees. Decentralized finance (DeFi) is the latest iteration of this movement. DeFi sudden and loud growth from zero to a $100 billion market is putting traditional finance off the rails. It’s too early to say that DeFi will have dominion but it’s worth paying attention to. Central banks that banned cryptocurrencies are now coerced to regulate them.
Debt: The Face Behind The Currency
faith, while being oblivious of its elusive repercussion to society. I believe a deeper understanding (that is not obvious in textbooks) helps us in proffering more sustainable solutions to our society. I will share two illustrations of the elusive nature of money.
Elusive Innovation: A Tale of a Community
There existed a thriving community where the people happily display their yams, eggs, tomatoes, chickens, and corn on their market days.
Whenever there was a storm that damaged the roof of any of the dwellers the people easily volunteered to help, knowing that if they themselves had a problem one day, others would come to help them. No currencies ever exchanged hands.
One market day, an elegantly dressed stranger with a black leather jacket came