In this episode of Beyond Bitcoin, we're joined by Kristen Ragusin, SVP of Wealth Management at Raymond James and author of "The End of Scarcity: The Dawn of the New Abundant World." Kristen discusses the flaws in the current fiat-based financial system, which creates dependence on borrowers and results in asset bubbles and rising debt. She differentiates between wealth and money, noting that money should equal people's productive value.
Kristen highlights the historical evolution of money, with asset-backed and producer-backed systems offering stability but being prone to inflation and control. The debate between Central Bank Digital Currencies and cryptocurrencies leaves the future of money uncertain. The ideal form of money should maintain stable value, represent some value, and be flexible. Blockchain technology may offer solutions for a more balanced monetary system, but the way forward is unclear.