With a market capitalization of approximately $12 billion and with the price of Bitcoin reaching towards its 2016 high, Bitcoin is both the most established and the most secure cryptocurrency. Its ascendancy has triggered both a great deal of enthusiasm and a fair share of concern.
On the utopian side, optimistic proponents assert that cryptocurrencies will free consumers from the tyranny of their domestic currencies, will force out entrenched financial players and payment systems, will reduce transaction costs for businesses and fees for consumers.
On the dystopian side, pessimistic opponents argue that cryptocurrencies may undermine traditional monetary policy, support illicit activity, or simply cannot meet the speed, scale and privacy requirements of real-world financial applications and marketplaces.
The recent U.S. election exposed two major intersecting fault lines in America that, if left unchecked, could soon produce an era of social and economic upheaval unlike any in our history.
First, it revealed deep divisions across racial, ethnic and gender lines that led to a surge in hate crimes last year, particularly against Muslims. Addressing this will require a sustained effort to heal these growing divisions and will be very difficult to resolve without strong leadership and a renewed willingness to listen to each other’s concerns.
Andrew McAfee, Co-Director of the Initiative on the Digital Economy
How are digital and mobile platforms changing the way that the global economy and labor market are structured?
Join our MIT Sloan Experts (@mitsloanexperts) Twitter chat with Andrew McAfee (@amcafee), principal research scientist at the MIT Center for Digital Business, as he discusses the on-demand economy and the way that digital and mobile-oriented platforms are helping to connect consumers to the goods they seek.
The chat will take place on Thursday, March 3, from 7 p.m. to 8 p.m. MIT Sloan Experts will host the chat.
How do you get involved? It’s simple! If you have a question or a response to one of MIT Sloan Experts’ questions, just include “#OnDemandMIT” in your tweet.
The #OnDemandMIT Twitter chat is a precursor to the On-Demand Economy Conference on March 15 at the MIT Media Lab in Cambridge, Mass. The conference gathers the leading thinkers at the intersection of technology and labor from academia, business, and policy with the goal of proactively answering questions about the impact of the on-demand economy on workers, companies and the labor market as a whole.
Stock markets continue to respond strongly to China’s economic woes, fearing a crippling slowdown since China suddenly devalued its currency two weeks ago — a move widely interpreted as a desperate attempt to support growth.
But Chinese growth in the future will be limited until the government makes fairly substantive structural reforms.
China’s growth model is one in which the role of the state in the economy has become more intrusive. For years, many US observers hailed China’s government-led and investment-heavy model as a pillar of strength. Their favorite comparison is between the spunky new airports in Beijing and Shanghai and the supposedly dilapidated New York JFK and Los Angeles airports. While comparison has an element of convenience to it — you have to depart from a US airport and arrive at a Chinese airport when you visit China — the “airportology’’ is flawed, because it doesn’t take into account that China has clearly overbuilt, and at a considerable cost to its middle class.
MIT Sloan alumna Aliza Blachman O’Keeffe, SM ’90, and chair of the alumni board, sits down with Dave Vellante and Stu Miniman from theCube for the live post-show to the MIT Conference on the Digital Economy: The Second Machine Age. O’Keeffe discusses the purpose of the MIT Sloan Alumni Board and how its members are using technology and innovation to reach a global alumni base.
On April 10, 2015, the MIT Digital Economy Conference: The Second Machine Age, led by Erik Brynjolfsson, director of the Initiative on the Digital Economy, and Andrew McAfee, co-director of the Initiative on the Digital Economy, featured a series of discussions that highlight MIT’s role in both understanding and shaping our increasingly digital world.
Aliza Blachman O’Keeffe, MBA ’90, is chair of the alumni board.