The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch 20VC: Former Governor of the Bank of England, Mark Carney on Why "Only the Niche Will Survive" in Crypto, How Governments and Central Banks Retain Control in a World of Decentralised Finance & The Winners and Losers in Crypto Exchanges and NFTs
Jan 10, 2022
Mark Carney, former Governor of the Bank of England, shares his extensive finance background and commitment to sustainability. He discusses how governments can maintain control amid the rise of decentralized finance and predicts the future of central bank digital currencies. Carney also analyzes the competitive landscape of crypto exchanges and NFTs, highlighting potential winners and losers in this evolving market. His insights emphasize the need for a balanced approach to innovation and equity in finance.
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Nikkei Crash Anecdote
- Mark Carney witnessed Japan's Nikkei crash in 1990 while working at Goldman Sachs in Tokyo.
- 32 years later, it barely reached its pre-crash peak, highlighting that markets can decline for extended periods.
Seek Clarification
- If a financial explanation seems unclear, ask for clarification.
- If they can't explain it simply, they likely don't understand it themselves.
Centralization of Innovations
- Private monetary innovations eventually reconnect to central banking systems.
- Examples include banknotes and fractional reserve banking, which require central bank oversight.
