In this conversation, Daryl Urbanski and Nasim Aliev discussed various economic systems and their impact on society. They shared their perspectives on the trade-offs between socialism and capitalism, and explored the relationship between economic systems and morals/values. They also discussed the potential consequences of AI on humanity, with Daryl Urbanski expressing concerns about the concentration of power and Nasim Aliev arguing that the evolution of the conscious mind will lead to a better life for people. Additionally, they discussed the potential of decentralized finance and digital currencies to promote financial inclusion and lead to a more decentralized global economy.
Resources
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Episode Highlights
Leadership, FinTech, and self-education with a former Soviet engineer turned business leader
- Nasim Aliev shares his journey from Soviet Union to FinTech leader.
- Nasim Aliev's self-education in English helped them navigate economic changes in Russia.
The pros and cons of capitalism and socialism, with a focus on human values and morals
- Nasim Aliev reflects on past socialist and capitalist systems, preferring the former for social values but acknowledging its material limitations.
- Nasim Aliev expresses concern about people's basic needs and values in capitalist societies.
- Nasim Aliev wonders if differences in values and morals between countries are due to capitalism or people's individual baseline values.
- Nasim Aliev discusses similarities in basic values across cultures and the importance of fostering morals and values in society.
- Nasim Aliev predicts conscious mind will evolve, overcoming animal instincts for a better life.
AI, monopolies, and banking in underbanked communities
- Daryl Urbanski discusses the potential of highly religious communities for startup success, citing a study that found shared values and beliefs make it easier to resolve conflicts and make decisions.
- Urbanski expresses concern about the potential for AI to be controlled by a small group of master planners, leading to an unequal distribution of power and potential for abuse.
- Daryl Urbanski asks about work in Vietnam and underbanked, citing mutual distrust between banks and people.
- Nasim Aliev explains that banks are conservative and choose not to serve certain people due to lack of centralized information.
Financial innovation in Vietnam, with a focus on digital payments and currency
- Nasim Aliev highlights gap between banks and customers in digital payments.
- Nasim Aliev discusses the use of digital services in Vietnam, including Bitcoin, to circumvent central control.
- Younger generation in Vietnam more interested in digital currency than older generation.
Banking and COVID-19 in Vietnam, with insights on mass planning and safety
- Daryl Urbanski discusses the COVID-19 pandemic and its impact on Vietnam, mentioning the country's lack of preparedness and the sudden lockdown.
- Nasim shares their perspective on the situation, highlighting the challenges of protesting or negotiating with the government in Vietnam.
- Daryl Urbanski shares his experiences living in Vietnam during the COVID-19 pandemic, including seeing people starving and his dog being kidnapped.
- Urbanski discusses the pros and cons of living in a country with strict government control, including the dangers of mass planning and the importance of banking and navigating the future.
Geopolitics, digital currencies, and the future of economies
- Daryl Urbanski and Nasim discuss geopolitical impact on currency and digital currencies.
- Nasim predicts widespread adoption of digital currencies, but governments will control them.
- Nasim predicts decentralized economies and currencies, with localized economies and protectionism on the rise.
- Nasim believes AI will significantly influence FinTech, making banks more like changeability with a single interface for all services.
The potential of digital currencies and their impact on traditional banking systems
- Daryl Urbanski discusses the benefits of Bitcoin, including no fees for transferring it and the limited supply of 21 million units.
- Urbanski questions the need for traditional banks and investment vehicles, citing the potential for central bank digital currencies and digital IDs.
- Golden Age or dystopia? Humans not ready for Golden Age.
- Technology developed, but people not ready for Golden Age.
The future of banking and FinTech with a focus on risk management and decentralization
- Nasim predicts banks will become unnecessary as risk management is decentralized.
- Daryl Urbanski and Nasim discussed the potential of blockchain technology in finance and its applications in various industries.
- Nasim shared their insights on the use of blockchain in municipal bond issuance and the importance of grassroots efforts in the field.