Episode 101
Michael Casey | The Age of Cryptocurrency and the Remaking of the Modern World
Episode 101
Michael Casey
Michael Casey | The Age of Cryptocurrency and the Remaking of the Modern World
summary
In this week’s episode of Hidden Forces, Demetri Kofinas speaks with Michael Casey, an acclaimed author, journalist, researcher, and entrepreneur who currently serves as CEO and founder of Streambed Media, an early-stage video production and technology platform that seeks to optimize capital formation and creative output in the digital media industry. Michael is also chairman of CoinDesk’s advisory board and a senior advisor at the MIT Media Lab’s Digital Currency Initiative, where he has spearheaded research projects that employ blockchain technology to achieve social impact goals.
Michael Casey’s breadth of experience as a financial journalist for Dow Jones and the Wall Street Journal, as well as his time spent stationed overseas in Thailand and Argentina, provide him with a unique perspective on the ‘problem of trust’ and what he calls ‘the Internet’s original sin.’ The latter is a reference to the observation that the inventors of packet switching and the basic Web protocols did, according to Casey, “a masterful job figuring how to move information seamlessly across a distributed network. What they didn’t do was resolve the problem of trust.” “On the one hand,” writes the chairman of CoinDesk’s advisory board, “the distribution of public information was disintermediated, which put all centralized providers of that information, especially newspapers and other media outlets, under intense business pressure from blogs and other new information competitors. But on the other, all valuable information – particularly money itself, an especially valuable form of information – was still intermediated by trusted third parties.”
This intersection between money, communication, and trust serves as the basis for Demetri and Michael’s conversation during this episode. The two discuss Shoshana Zuboff’s work on Surveillance Capitalism, the loss of faith in financial institutions and central banks (including recent actions by the Federal Open Market Committee and the intervention by the Fed in the overnight Repo market), and how cryptocurrencies and distributed ledger technology aims to reinstill this lost faith by resolving the problem of trust.
The overtime to this week’s episode is an exhaustive exploration of the forces driving cryptocurrency adoption around the globe, the cultural impetus behind these forces, and the financial imperatives fueling Bitcoin’s ascent as truly global money.
You can access the overtime, along with a transcript and rundown to this week’s episode through the Hidden Forces Supercast Page. All subscribers also gain access to the overtime RSS feed, which can be easily be added to your favorite podcast application.
Producer & Host: Demetri Kofinas
Editor & Engineer: Stylianos Nicolaou
Subscribe & Support the Podcast at http://patreon.com/hiddenforces
Join the conversation on Facebook, Instagram, and Twitter at @hiddenforcespod
bio
Michael Casey is CEO and founder of Streambed Media, an early-stage video production and technology platform that seeks to optimize capital formation and creative output in the digital media industry. He is also chairman of CoinDesk’s advisory board and a senior advisor at the MIT Media Lab’s Digital Currency Initiative, where he has spearheaded research projects that employ blockchain technology to achieve social impact goals. Additionally, Casey is a senior lecturer at MIT Sloan School of Management, an adjunct professor at Curtin University’s Center for Culture and Technology.
Until mid-2015, Casey was a senior columnist covering global finance at The Wall Street Journal, the culmination of a two-decade career in print journalism that spanned various roles and stints on five continents. He also hosted online TV shows for WSJ Live and frequently appeared on various networks as a commentator, including CNBC, CNN, Fox Business, and the BBC. Casey is a frequent speaker on the international conference circuit, giving presentations on topics of digital innovation, globalization, and the future of media and money. He also advises and consults for both startups and large enterprises that are undergoing or confronting digital transformation.
Casey has five acclaimed books to his name, including The Truth Machine: The Blockchain and the Future of Everything and The Age of Cryptocurrency: How Bitcoin and Digital Money are Challenging the Global Economic Order, both co-authored with Paul Vigna. He has also worked with and has featured in various documentaries covering a variety of themes to do with digital technology and culture.
A native of Perth, Australia, Casey is a graduate of the University of Western Australia and has higher degrees from Cornell University and Curtin University.
transcript
content locked
or Subscribe to Access Premium Content
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Curium putes loqui, interdum ita laudat, ut quid praeterea sit bonum neget se posse ne suspicari quidem. Nam si +omnino nos+ neglegemus, in Aristonea vitia incidemus et peccata obliviscemurque quae virtuti ipsi principia dederimus; Duo Reges: constructio interrete. Si enim ita est, vide ne facinus facias, cum mori suadeas. Mihi vero, inquit, placet agi subtilius et, ut ipse dixisti, pressius. Sed ne, dum huic obsequor, vobis molestus sim.
Hic nihil fuit, quod quaereremus. Dicam, inquam, et quidem discendi causa magis, quam quo te aut Epicurum reprehensum velim. Nonne videmus quanta perturbatio rerum omnium consequatur, quanta confusio? Nulla erit controversia. Mihi vero, inquit, placet agi subtilius et, ut ipse dixisti, pressius. Cur igitur, inquam, res tam dissimiles eodem nomine appellas? Ut in geometria, prima si dederis, danda sunt omnia.
Atqui eorum nihil est eius generis, ut sit in fine atque extrerno bonorum. Illa videamus, quae a te de amicitia dicta sunt. Qui ita affectus, beatum esse numquam probabis; Non quam nostram quidem, inquit Pomponius iocans; In qua si nihil est praeter rationem, sit in una virtute finis bonorum; Itaque sensibus rationem adiunxit et ratione effecta sensus non reliquit.
Itaque hic ipse iam pridem est reiectus; Idemque diviserunt naturam hominis in animum et corpus. Quae hic rei publicae vulnera inponebat, eadem ille sanabat. Satisne ergo pudori consulat, si quis sine teste libidini pareat? Sed tamen intellego quid velit. Claudii libidini, qui tum erat summo ne imperio, dederetur. Rem unam praeclarissimam omnium maximeque laudandam, penitus viderent, quonam gaudio complerentur, cum tantopere eius adumbrata opinione laetentur? Scientiam pollicentur, quam non erat mirum sapientiae cupido patria esse cariorem. Septem autem illi non suo, sed populorum suffragio omnium nominati sunt. Perturbationes autem nulla naturae vi commoventur, omniaque ea sunt opiniones ac iudicia levitatis.
Full Episode
content locked
or Subscribe to Access Premium Content
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Cupit enim dícere nihil posse ad beatam vitam deesse sapienti. Duo Reges: constructio interrete. Etenim nec iustitia nec amicitia esse omnino poterunt, nisi ipsae per se expetuntur. Qua ex cognitione facilior facta est investigatio rerum occultissimarum. Quid enim ab antiquis ex eo genere, quod ad disserendum valet, praetermissum est? Quid ad utilitatem tantae pecuniae? Tria genera bonorum; Nam his libris eum malo quam reliquo ornatu villae delectari.
Que Manilium, ab iisque M. Qui ita affectus, beatum esse numquam probabis; Quaerimus enim finem bonorum. Ex ea difficultate illae fallaciloquae, ut ait Accius, malitiae natae sunt. Collige omnia, quae soletis: Praesidium amicorum. At enim sequor utilitatem. Quid de Pythagora? Quid iudicant sensus?
Vos autem cum perspicuis dubia debeatis illustrare, dubiis perspicua conamini tollere. Nihil enim iam habes, quod ad corpus referas; Nulla profecto est, quin suam vim retineat a primo ad extremum. Quae quidem sapientes sequuntur duce natura tamquam videntes; Idem iste, inquam, de voluptate quid sentit? Quicquid porro animo cernimus, id omne oritur a sensibus; Sed quoniam et advesperascit et mihi ad villam revertendum est, nunc quidem hactenus; Quid affers, cur Thorius, cur Caius Postumius, cur omnium horum magister, Orata, non iucundissime vixerit? Qui autem esse poteris, nisi te amor ipse ceperit?
Sed ad haec, nisi molestum est, habeo quae velim. Non quaeritur autem quid naturae tuae consentaneum sit, sed quid disciplinae. Nam adhuc, meo fortasse vitio, quid ego quaeram non perspicis. At coluit ipse amicitias. Primum cur ista res digna odio est, nisi quod est turpis? Uterque enim summo bono fruitur, id est voluptate. Quod ea non occurrentia fingunt, vincunt Aristonem; Ergo adhuc, quantum equidem intellego, causa non videtur fuisse mutandi nominis.
intelligence report
content locked
or Subscribe to Access Premium Content
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Dulce amarum, leve asperum, prope longe, stare movere, quadratum rotundum. Duo Reges: constructio interrete. Sed venio ad inconstantiae crimen, ne saepius dicas me aberrare; Itaque nostrum est-quod nostrum dico, artis est-ad ea principia, quae accepimus. Istam voluptatem perpetuam quis potest praestare sapienti? Modo etiam paulum ad dexteram de via declinavi, ut ad Pericli sepulcrum accederem. Magni enim aestimabat pecuniam non modo non contra leges, sed etiam legibus partam. Quae qui non vident, nihil umquam magnum ac cognitione dignum amaverunt. Atqui pugnantibus et contrariis studiis consiliisque semper utens nihil quieti videre, nihil tranquilli potest. Si mala non sunt, iacet omnis ratio Peripateticorum.
Huius, Lyco, oratione locuples, rebus ipsis ielunior. At, illa, ut vobis placet, partem quandam tuetur, reliquam deserit. Hoc ipsum elegantius poni meliusque potuit.
Deprehensus omnem poenam contemnet. Quae diligentissime contra Aristonem dicuntur a Chryippo.
Scaevola tribunus plebis ferret ad plebem vellentne de ea re quaeri. Sed fortuna fortis; Ille vero, si insipiens-quo certe, quoniam tyrannus -, numquam beatus; Cum id fugiunt, re eadem defendunt, quae Peripatetici, verba. At, si voluptas esset bonum, desideraret. Et quae per vim oblatum stuprum volontaria morte lueret inventa est et qui interficeret filiam, ne stupraretur.
extra material
content locked
or Subscribe to Access Premium Content
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Summus dolor plures dies manere non potest? Stulti autem malorum memoria torquentur, sapientes bona praeterita grata recordatione renovata delectant. Et hercule-fatendum est enim, quod sentio -mirabilis est apud illos contextus rerum. Restincta enim sitis stabilitatem voluptatis habet, inquit, illa autem voluptas ipsius restinctionis in motu est. Duo Reges: constructio interrete. Neque solum ea communia, verum etiam paria esse dixerunt.
Aliter homines, aliter philosophos loqui putas oportere? Vide igitur ne non debeas verbis nostris uti, sententiis tuis. Vitae autem degendae ratio maxime quidem illis placuit quieta. Vitiosum est enim in dividendo partem in genere numerare. Quare obscurentur etiam haec, quae secundum naturam esse dicimus, in vita beata; An potest, inquit ille, quicquam esse suavius quam nihil dolere?
Neque solum ea communia, verum etiam paria esse dixerunt. Te ipsum, dignissimum maioribus tuis, voluptasne induxit, ut adolescentulus eriperes P. Quis est, qui non oderit libidinosam, protervam adolescentiam? Nescio quo modo praetervolavit oratio. Nam si quae sunt aliae, falsum est omnis animi voluptates esse e corporis societate. Eam tum adesse, cum dolor omnis absit; Estne, quaeso, inquam, sitienti in bibendo voluptas? Ut necesse sit omnium rerum, quae natura vigeant, similem esse finem, non eundem.
Quo studio Aristophanem putamus aetatem in litteris duxisse? Ut alios omittam, hunc appello, quem ille unum secutus est. Tecum optime, deinde etiam cum mediocri amico. Ergo hoc quidem apparet, nos ad agendum esse natos. Quid ait Aristoteles reliquique Platonis alumni? Mihi vero, inquit, placet agi subtilius et, ut ipse dixisti, pressius.
related episodes
Video
content locked
or Subscribe to Access Premium Content
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Non enim iam stirpis bonum quaeret, sed animalis. An vero, inquit, quisquam potest probare, quod perceptfum, quod. Si mala non sunt, iacet omnis ratio Peripateticorum. Illud dico, ea, quae dicat, praeclare inter se cohaerere. Teneo, inquit, finem illi videri nihil dolere. Duo Reges: constructio interrete.
Indicant pueri, in quibus ut in speculis natura cernitur. Eodem modo is enim tibi nemo dabit, quod, expetendum sit, id esse laudabile. Bonum liberi: misera orbitas. Verum esto: verbum ipsum voluptatis non habet dignitatem, nec nos fortasse intellegimus. Nam illud vehementer repugnat, eundem beatum esse et multis malis oppressum. Atque ab his initiis profecti omnium virtutum et originem et progressionem persecuti sunt. Sed utrum hortandus es nobis, Luci, inquit, an etiam tua sponte propensus es? Laelius clamores sofòw ille so lebat Edere compellans gumias ex ordine nostros.
At ille pellit, qui permulcet sensum voluptate. Quae iam oratio non a philosopho aliquo, sed a censore opprimenda est. Morbo gravissimo affectus, exul, orbus, egens, torqueatur eculeo: quem hunc appellas, Zeno? Quid enim me prohiberet Epicureum esse, si probarem, quae ille diceret? Tu enim ista lenius, hic Stoicorum more nos vexat. Quare ad ea primum, si videtur; Verum esto: verbum ipsum voluptatis non habet dignitatem, nec nos fortasse intellegimus. Prave, nequiter, turpiter cenabat; Sed quia studebat laudi et dignitati, multum in virtute processerat. Nihil minus, contraque illa hereditate dives ob eamque rem laetus.
Et ille ridens: Video, inquit, quid agas; Respondent extrema primis, media utrisque, omnia omnibus. Negat esse eam, inquit, propter se expetendam. Atque ab isto capite fluere necesse est omnem rationem bonorum et malorum.
