A little sass goes a long way, Europe

It is hardly too strong to say that the Constitution was made to guard the people against the dangers of good intentions. There are men in all ages who mean to govern well, but they mean to govern. They promise to be good masters, but they mean to be masters. -Daniel Webster The Tor Project (quite understandably under the circumstances) wasn’t willing to put anyone forward to discuss the matter of surveillance vs privacy in a debate on Euronews with Rob Wainwright – smoothest law enforcer in the world, and also the Director of the European Police Office, better known…

What’s wrong with libertarianism: an explanation of post-libertarianism

(EDIT, 5 FEB 2015: For an example of how awesomely “post-libertarianism” works in practice, check out this superb suggestion from the Adam Smith Institute (of which I’m a fellow) here.) Thanks to the ASI’s Sam Bowman and Ben Southwood, and the Liberty League’s Anton Howes, for bringing this excellent article by Jeffrey Friedman to my attention: Libertarians… should understand better than anyone the importance of subverting one’s own natural intellectual complacency with the constant reminder that one might be wrong. The only remedy for the sloppiness that has plagued libertarian scholarship is to become one’s own harshest critic. This means thinking…

We are in the 4th Fintech Era

Originally posted on Daily Fintech:
This blog is usually about Emergent Fintech; in this post I looked at Traditional Fintech. However, that breakdown may be too simplistic. So here is my shortened history of Fintech divided into 4 Eras (call them Version numbers if you prefer). Each era builds on the previous era. It is like going to an ancient monument and seeing the layers of history. One era does not stop when another starts, it is just that the new era is where the innovation is happening and when the venture money is flowing. International Banking Driver: Bretton Woods,…

Unexpected Consequence of SNB #Francogeddon – The Broker Model Will Be Replaced By a Blockchain Model  

Originally posted on Daily Fintech:
The Broker model is the heart of Wall Street. Brokers take a risk-free fee for executing a transaction. It has been a wonderful cash cow. As this book asks, “where are the customer’s yachts?” So why have many foreign exchange brokers gone bankrupt (and others lost most of their equity) after the Swiss National Bank (SNB) dropped their peg to the Euro, thus sending the Swiss Franc soaring by 30% in a matter of seconds? The answer (as usual when discussing Wall Street crashes) is…leverage. Historically Fiat currencies move against each other by only a…