Forget Smart Tech — The Future is Wise Tech, from Davos, WEF22

  • Women’s participation at the official WEF events was 24% in 2020, which is relatively high compared to other leader-level events.
  • 72% of global investments go to 31 cities!
  • 52% of cultivated soil is degraded
  • 2/3 of the Brazilian population uses PIX, the retail Real Fast payment system
  • The number of internet deserts in the US remains high
  • The rents in correspondent banking remain high
  • There are `better` rails & UX for cross-border payments than the message-based cross-border payments currently used.
  • The crypto infrastructure won’t go away and it will keep being developed. Let’s admit that this is the first such infrastructure that proved itself bottom-up and has allowed retail to participate early in the monetization potential (with that also come the scams, the risks etc.).
  • Correspondent banking has now clearly a healthy competitor and regulators are well aware of this.
  • Regulators are now knowledgeable about crypto. However, the innovation pace in the space is relentless and it is hard for them to keep up.
  • There is a need to move from just enforcement to providing a regulatory framework in which to continue innovating. Switzerland is a model country in this respect and during this WEF at the House of Switzerland, they announced the `Home of Switzerland` ecosystem initiative (I will talk about this in more detail in a separate post)
  • Even though regulators have provided licenses to crypto businesses overall, the industry now needs clarity from regulators and policymakers in much more nuanced ways.

Previous WEF blogs

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