Fergus Hodgson on the Fintech Revolution & Competitive Governance

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The Fintech revolution is upon us.

In a recent article for the Epoch Times (How the Fintech Revolution Could Liberate Us, March 22, 2019), Fergus Hodgson argues that decentralized government-service-providers are primed to outcompete clunky 20th-century states in the 21st century and beyond. He says that Bitcoin and the sharing economy are only the beginning of the ascent of digital governance.

This is a bold claim, and it’s not likely to be welcomed by the guardians of the established order. However, if history is our guide, a major change in governance cannot be stopped once structural and technological changes make it a necessity.

Once known as “the Stateless Man”, Fergus draws on his own experience as a digital nomad to make the case that all jurisdictions must think ahead to the inevitable changes coming.

He quotes fellow futurist-libertarian Max Borders, “Cryptocurrency and income tax cannot coexist,” and draws out the dire implications for raising revenue in the increasingly burdened welfare states of the western world. This is not to say that governments will not be able to fund any activity, but that they will need to think carefully – both about how they tax their citizens and, more importantly, the value they provide in return.

Does the U.S. run the risk of becoming a Venezuela if we do not adapt to the changing tides of technology?

I’m delighted to welcome Fergus back to the show of ideas this Sunday (12/8, 8-9am PACIFIC) to discuss his recent articles on everything from Airbnb and Ethereum, to competitive currencies, and the democratization of finance through crowdfunding.

We explore the analogy between governments as service providers and citizens as customers, and see what’s happening countries that are failing their “customers.” Finally, we will look at what makes countries like Liechtenstein and Switzerland potential models for “The State in the Third Millennium” (to borrow the title of a book by Prince Hans-Adams II – reigning monarch of Liechtenstein).

When the revolution arrives, you won’t want to be left behind. Subscribe to hear my full conversation with Fergus, and follow him on Twitter: @FergHodgson.

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