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Digital Assets

5 min read

A different name for the same game?

How many of you have seen the clip doing the rounds that looks like a scene from an old, obscure B-movie? A king and his minion sit beside their prized robot and fret that their rival is building a better one. They weigh up how to stay ahead and settle on regulating the other robot […]

Business & Entrepreneurship

5 min read

America innovates, Europe regulates. Says who?

"America innovates, China replicates, Europe regulates." A snappy phrase or snap judgement? This erroneous (in my opinion) claim ultimately served as the unofficial thesis of Mario Draghi's 2024 report on European competitiveness. While memorable enough for a presentation slide, its appeal lies in holding just enough truth to resonate. Draghi's analysis concludes that Europe genuinely […]

Insights & Perspectives

5 min read

The always-on economy has a name, but it still needs a switch

Seeing Tal Cohen, the President of Nasdaq articulate the future of markets using the exact terminology I have championed for years is a reassuring sign. It's a signal that the idea is no longer a fringe position, and that institutions operating the underlying infrastructure are now taking it seriously. Nasdaq recently announced its equity token […]

Business & Entrepreneurship

5 min read

When does a stablecoin stop being a stablecoin?

Ask most people what makes a stablecoin stable and they will point straight to the peg, yet a recent BIS bulletin suggests the more revealing attribute is how holders are actually being paid, and it separates the ways that yield is generated into two very different models. In the first model the return simply passes […]

Digital Assets

5 min read

Artificial efficiency, not artificial intelligence

McKinsey’s "AI assembly line" article poses a model in which artificial intelligence moves beyond isolated tasks and begins to run the workflow itself, making routine business decisions more quickly and more consistently than humans may be able to. What I am starting to question, however, is the single word sitting at the center of this […]

Business & Entrepreneurship

5 min read

The CBDC debate is missing the point entirely

In November 2025, Mark Mobius, one of the most decorated emerging markets investors of the past half century, alongside Cornell University faculty and a McKinsey consultant, published The Digital Currency Revolution: Central Bank Digital Currencies, Crypto, and the Future of Global Finance. The book maps the global race between CBDCs, stablecoins, and digital payment systems […]

Payments & Financial Infrastructure

5 min read

The six characteristics of money

The definition of money, like most foundational ideas in economics, has not changed much since William Stanley Jevons codified it in 1875. The six characteristics of money —durability, portability, divisibility, uniformity, limited supply, and acceptability— have served as the standard ever since, a framework so durable that it survived the shift from gold to paper, […]

Insights & PerspectivesPayments & Financial Infrastructure

5 min read

Joshua Tate, co-founder and CEO of ForumPay, on money then, now and in the future

We tend to judge payment systems by the metrics we can immediately see and feel, namely speed, fees, convenience and user experience. But according to Joshua Tate, co-founder and CEO of ForumPay, those metrics only reveal part of the story. Beneath every transaction sits an economic structure, which, for decades, has shaped how money moves, […]

Business & Entrepreneurship

5 min read

Joshua Tate on conviction, uncertainty and the reality of building a company

Joshua Tate isn’t one to romanticize entrepreneurship. For the ForumPay co-founder and CEO, building a company was never about startup mythology or chasing the glossy image that often surrounds Silicon Valley success stories. If anything, Tate believes most people misunderstand what building a company actually feels like once you’re inside it. “Any entrepreneur basically comes […]

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