Nick Giurietto - The Cashless Society

SUMMARY:
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I was genuinely captivated by Nick Giurietto’s talk on the coming cashless society — it’s a brilliant mix of history, humour and hard-headed policy thinking. Nick opens with a charming story about his grandmother queuing for hours to get her pension stamped into a bank ‘passport’, and uses that to show how our ideas of money and trust have shifted from shells and gold to paper and cards. He clearly explains the three functions of money — store of value, medium of exchange, unit of account — and frames the trade-off between security and convenience that drives change. Nick then takes us through Bitcoin and blockchain, argues how these innovations will evolve into wider blockchain applications, and makes a persuasive case that the Reserve Bank of Australia should consider issuing a digital Australian dollar within the next 15–20 years. He balances enthusiasm for FinTech with practical questions about regulation and standards, and his optimism about Australia’s FinTech future is infectious. If you care about where money is headed — and the role regulators and industry will play — this talk is a must-watch.

RUMBLE DESCRIPTION:
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Nick Giurietto takes the stage in this lively talk to map the evolution of money from cowrie shells and gold to the era of cards, cryptocurrencies and, ultimately, a digital Australian dollar. With warmth and wry humour, Nick begins by sharing a personal memory of his grandmother queuing with a bank “passport” for her pension — a touching reminder that trust, tangibility and verification have always underpinned how people use money. He then lays out the three classic functions of money — store of value, medium of exchange and unit of account — and shows how choices about money are driven by the twin priorities of security and convenience.

Working through Bitcoin and blockchain, Nick explains in plain language how these technologies have opened the door to rethinking payments and financial infrastructure. He argues that blockchain will spawn broader applications and eventually lead to a central bank-issued digital currency in Australia — a digital Australian dollar issued by the Reserve Bank — possibly within the next 15–20 years. Nick doesn’t shy away from the hard stuff: regulatory challenges, industry standards and the responsibilities of a peak FinTech body. He highlights the Australian Digital Currency and Commerce Association’s role in advocating for members and lifting best-practice standards as the sector matures.

This is a must-watch for anyone interested in FinTech, payments, regulation, or the future of money. If you enjoyed Nick’s clear explanations and practical optimism, leave a comment, share with friends in finance or tech, and hit follow for more talks on digital currency and the cashless future.

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