![]() ![]() But I became quite critical about the FinTech world and digital finance more generally.Īnd this is culminated in my latest book, Cloud Money, which is looking at how big tech and big finance are sort of fusing together and crushing the cash system and the process and how the crypto communities imagine themselves to be countering this potentially.įriederike Ernst: It is super interesting to hear that you enter the finance field, first and foremost out of an anthropological interest, that is what I have never heard before. And this kind of eventually led me to look at the tech world, how it meets with the financial sector. ![]() It was more looking at hedge funds and private equity, all this kind of stuff, and then I kind of became involved in alternative finance, alternative forms of money, alternative forms of banking and so on.Īnd so, I have a lot of experience around people who attempted to build different styles of finance. I had like a little bit of stuff on crypto in there, but it was not the dominant topic. So, I wrote a book in 2013, or came out in 2013 called the Heretics Guide to Global Finance. So, I was working on that stuff and then I was commissioned to write a book after I left that sector called the Heretics Guide to Global Finance, which came in the wake of the Occupy movements, where these people realized there was lots of demand from the public to understand some of the mechanisms and workings of finance. It is like an exotic flavor of ice cream rather than vanilla. They are not like the most popular derivatives, they are considered exotic. I was personally working on inflation derivatives, property derivatives, even longevity derivatives, bets upon how long populations live for, these are considered exotic systems because they just are non-mainstream. For those of people who do not know exotic derivative contracts, they just elaborate contractual bets upon things in the world. So, I ended up working in exotic derivative contracts for a couple of years during the financial crisis. ![]() But, around the financial crisis I worked in the financial sector, partially out of a kind of anthropological desire to explore the financial system, which I found a very fascinating place because I was also coming from quite a critical political background, and I was very fascinated about the sort of mechanisms of finance and how this extremely powerful system that underpins the global capitalist order essentially works. I am a big fan of the work people like David Graeber and many other economic anthropologists. So, I come from a kind of an economic anthropology background rather than an economics background. And I guess I kind of like I do studied anthropology at university. ![]() I am from South Africa, my family is from Zimbabwe, I grew up in Southern Africa. Maybe before we get into that, can you give us a little bit of background on yourself?īrett Scott: A short version of some sort. This is your recent book about the banking system and the different banking systems that we often do not realize exist, in parallel and unison. Cool to be here.įriederike Ernst: We are here to talk about cloud money. I am a big fan of the show, I am going to be listening to it for like a long time on and off. Friederike Ernst: Brett, thank you so much for coming on the show.īrett Scott: Hey, it is great to be here. ![]()
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