Episode 28 - Unlocking Growth: Advancements in Monetary and Payments Systems

In this episode of The Gage, host Sean Kiernan welcomes Itay Tuchman, Founder of TomorrowNext, CEO of Consello Digital and former global head of FX at Citi. They delve into the question of what money really is, particularly in the context of digital assets and cryptocurrencies. Itay emphasises the practical use of money as a medium of exchange and payment system, highlighting its role in purchasing goods and services, storing value, and buying financial assets.Listen to our other podcasts: https://www.greengage.co/podcastsAbout Itay TuchmanItay began his career with Citi in 1998 and has 20+ years of senior global financial markets experience, spanning Asia Pacific, Australia, Europe and the Americas. He has built and grown trading desks, sales forces and technology teams in multiple geographies and across every major asset class, and is now CEO of Consello Digital and Founder of TomorrowNext.Time stamps[00:03:40] Too big to fail.[00:07:04] Evolution of money technology.[00:11:08] E-money's Achilles heel.[00:13:47] Moving away from the banks.[00:17:12] The cost of risk-free interest rate.[00:20:16] Shadow banking and systemic risk.[00:24:18] CBDCs as payment networks.[00:27:48] CBDC and its implications.[00:30:07] CBDC as a payment system.[00:33:17] The cost of payment systems.[00:37:16] Payments and the monetary system