The wider view of the rise of non-fungible tokens, or NFTs, is the decentralisation of financial services. With the application of the blockchain and its integration with artificial intelligence (AI) and IoT devices (e.g. NFCs and RFIDs), finance has become more efficient and accessible. There are several key drivers that are making decentralised finance work _ tokenisation of real-world assets, maturity of stable coins and the improved implementation or acceptance of some regulations and standardisation.Read More >
The national Budget speech is an annual address crammed with numbers and financial jargon that can be confusing, making it difficult to be excited about; of course, with the exception of the announcement on cash payouts. However, regardless of its appeal, the Budget affects us and our finances. Thus, we need to make sense of it as it is our right and duty as taxpayers, voters, and citizens to know how our money is being spent.Read More >
MONEY, FIAT CURRENCY AND CRYPTOCURRENCIES
The three main functions of money are as a unit of account, medium of exchange and store of value. Cash is a financial instrument and physical asset that combines four features: (i) it is anonymous; (ii) it is universal (anyone can take possession); (iii) it is exchanged peer to peer (without knowledge of the issuer); and (iv) it does not yield any interest by itself. Banks are the traditional money creators and maintain their inimitability at keeping reserves at the central banks (CBs).
Digitalisation has given rise to monumental shifts in the future of work. With numerous predictions about the disruptive effects of technology, workers and the organisations they work for are inundated with negative messages of disruption. Furthermore, the future of work is not immune to further complications brought about by other global phenomena. The COVID-19 pandemic, for example, has further disrupted the way we work and will eventually entrench a new normal upon us.Read More >