Many readers will know the name Dawie Roodt. He is chief economist at the Efficient Group and undoubtedly one of South Africa’s leading economists.
Roodt gave a fascinating presentation on Wednesday evening at the Free Market Foundation in Johannesburg, where he spoke on the subject of cryptocurrencies such as bitcoin and ethereum.
He begins the presentation by talking about the state of the world economy, then zooms in the state of the South African economy, before moving onto a discussion about the digital economy and different types of money, including cryptocurrencies.
To paraphrase Roodt, governments in recent decades have become fat and lazy, and central banks all powerful. In the presentation, he explains how virtual/crypto/private/decentralised money will impact on finance and why we may see the end of banks, including central banks, and even a decrease in taxes.
Listen to Roodt explaining why these developments could lead to the end of monetary policy and a much smaller state.
Roodt’s presentation is long, but highly informative and very entertaining. You really don’t want to miss this podcast.
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