In the second part of this two-part series on de-dollarization, G3, CIO Jordi Visser and Deputy CIO Mike Edwards convene to discuss the role of the dollar in the emerging technology battle between China and the US, how crypto may figure into a de-dollarizing world, and the scenarios under which the dollar can reassert itself globally. The conversation begins with an in-depth discussion on how the technological battle between the US and China is connected to efforts by both superpowers to assert the role of their respective currencies. In analyzing the current state of play, Mike discusses China’s potential supremacy in the area of quantum computing and reminds us that China has a greater ability to think long-term when it comes to using technology to advance its currency. Additionally, now that VC dollars have filtered throughout the world and are significantly less invested in the US than in the 1990s, Jordi maintains that the blockchain will be disruptive to all incumbents, especially mega-cap technologies companies.
To better understand what will likely cause de-dollarization rates to hasten, Jordi describes a three-pronged scenario in which oil prices continue to climb until climate change is resolved, inflation rates in the US will exceed global norms, and how Web 3.0 will accelerate blockchain competition. To conclude the conversation, G3 quizzes Jordi and Mike on some greenback trivia.
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