2021 saw a huge increase in price and popularity of Non-Fungible Token (NFT) which tracked the rise in cryptocurrencies and stock market and 2021 was the year that NFT’s became mainstream with celebrity endorsements. However in 2022, NFT’s have declined with cryptocurrencies and dropped in price and volume along with other asset classes as interest rates have risen. But there is wide potential use of NFT that has not yet been explored and it looks like NFT’s will stay as an asset class and a will have a major role in the digital asset ecosystem.
Background: This year prior to starting the war on inflation, the Fed published a paper asking for comments on a Fed coin or a CDBC
Earlier this month, the Presidents Working Group on Financial Markets (PWG) released a report on Stablecoins. This represents first attempt in designing prudential safeguards for stablecoin issuers.
The popular view that emerging technologies like Artificial Intelligence (AI), Robotics will dramatically improve our personal and professional lives usually gets contrasted against the threat of the millions of jobs that are at risk from automation. Against this backdrop, a report last year based on a three year study by MIT offers a balanced perspective on the relationship between these emerging technologies and future of work and the labor market.
Summary of ‘Prediction Machines – the Simple Economics of Artificial Intelligence’ by Ajay Agrawal, Joshua Gans, and Avi Goldfarb
An approach to measuring the value of the free digital services provided by the Big Tech companies i.e. Google, Facebook, Wikipedia by valuing how much users would have to be compensated to not use them for a period of time.