The Breakdown

Joe McCann currently works in cloud and AI at Microsoft and has spent decades in tech, crypto, and open source communities. He recently wrote a piece called “A New, New World Order” all about the second and third order effects of Covid-19. 

In this conversation, Joe and NLW discuss:

• Localism and the beginning of the end of globalization
• The return of domestic manufacturing 
• The ‘Roaring 20s’ of Inflation
• The inevitability of Universal Basic Income in response to inflation
• QE infinity and the US’s nationalization by proxy
• National healthcare as national security and why microbes are this decade’s terrorists 
• Proof of health, and why it’s likely to be implemented on a blockchain

Joe McCann currently works in cloud and AI at Microsoft and has spent decades in tech, crypto, and open source communities.

He and NLW discuss:

The end of globalization

Domestic manufacturing

The ‘Roaring 20s’ of Inflation

The inevitability of UBI in response to inflation

QE infinity and the US’s nationalization by proxy

National healthcare as national security and why microbes are this decade’s terrorists

Proof of health, and why it’s likely to be implemented on a blockchain

It’s hard to look at recent news from both crypto and traditional markets and not feel like we’re getting pretty mixed signals. Stocks have been recovering, but oil is hitting historic lows. DeFi suffers a major hack over the weekend, but Coinbase sees a major spike in $1200 transactions right as $1200 stimulus checks hit. Cash hoarding is giving pretence for eliminating privacy-preserving money, but one of the world’s most successful hedge funds has authorized investment in bitcoin futures. 

On today’s episode of The Breakdown, NLW separates bullish from bearish signals for the strange in between times.

It's a time of mixed signals. Stocks recovering, but oil is hitting historic lows. DeFi suffers a major hack over the weekend, but Coinbase sees a major spike in $1200 transactions right as $1200 stimulus checks hit. Cash hoarding is giving pretence for eliminating privacy-preserving money, but one of the world’s most successful hedge funds has authorized investment in bitcoin futures.

On today’s episode of The Breakdown, NLW separates bullish from bearish signals for the strange in between times.

The entire week's shows in one convenient episode 

• Monday | Off
• Tuesday | The $20,000 Human IPO & 5 Other Stories That Have Nothing to Do With COVID-19
• Wednesday | What the Economy Will Look Like 6 Months From Now, Feat. Ryan Selkis
• Thursday | Libra vs. China's DCEP? The Battle for the Future of Money Heats Up
• Friday | Why Money Is Losing Its Meaning, feat. Jared Dillian

The entire week's shows in one convenient episode 

Monday | Off

Tuesday | The $20,000 Human IPO & 5 Other Stories That Have Nothing to Do With COVID-19

Wednesday | What the Economy Will Look Like 6 Months From Now, Feat. Ryan Selkis

Thursday | Libra vs. China's DCEP? The Battle for the Future of Money Heats Up

Friday | Why Money Is Losing Its Meaning, feat. Jared Dillian

Bitcoiners are particularly sensitive to Fed intervention in markets, but the degree to which the Fed is willing to print to backstop basically all risk is drawing the attention of even normal market participants. 

On this episode of The Breakdown, NLW is joined by Jared Dillian, market analyst, contrarian, and editor of The Daily Dirt Nap. They discuss:

• What ‘safe haven’ means in today’s climate
• How Jared became a bitcoin believer after being a skeptic 
• Why in an MMT world, taxation policy will be driven by ideology not practicality 
• Why money is losing its meaning 

NLW is joined by Jared Dillian, market analyst, contrarian, and editor of The Daily Dirt Nap. They discuss:

What ‘safe haven’ means in today’s climate

How Jared became a bitcoin believer after being a skeptic

Why in an MMT world, taxation policy will be driven by ideology not practicality

Why money is losing its meaning

This week saw the latest salvos in the battle for the future of money. 

Libra announced that it would be moving away from a single currency that was backed by a basket of national currency to a model of numerous individual fiat-pegged currencies. While the original model was akin to a disruptive implementation of John Maynard Keynes original concept for a global basket currency (which he called a “bancor”), this model seems more to position Libra to help existing central banks digitize their currencies. 

China meanwhile steamed forward with its digital currency and blockchain plans. Screenshots of an app from the Agricultural Bank of China show how the DCEP digital currency is currently being tested, giving us insight into functionality, geographies and players involved. 

China also announced the 71 members of its National Blockchain Council, as well as went live with their Blockchain Service Network. The BSN in particular has potential significance on a world scale as China tries to build and control a key piece of global digital infrastructure.

This week saw the latest salvos in the battle for the future of money. Libra shifts to a fiat-pegged approach instead of a currency basket. Screenshots of a test app for using China's DCEP digital currency. Plus the Chinese Blockchain Service Network goes live.