ON THE BRINK OF A DRAMATIC CHANGE: THE DIGITALIZATION OF MONEY

“What underpins a world order is always the financial system. We are on the brink of a dramatic change where we are about to, and I’ll say this boldly, abandon the traditional system of money and accounting and introduce a new one. And the new one is what we call blockchain.

It means digital. It means having an almost perfect record of every single transaction that happens in the economy, which will give us far greater clarity over what’s going on. It also raises huge dangers in terms of the balance of power between states and citizens. In my opinion, we’re going to need a digital constitution of human rights if we’re going to have digital money.