In our previous episode with Justin Recla on cryptocurrencies, we mentioned that we were going to broaden out the conversation on finance, the global economy, technology and how all of that is changing us. This is exactly what we do in this episode – and then some.
My guest is Keith Furst. Keith runs a firm called Data Derivatives, which focuses on implementing financial crime systems. He is an expert in anti-money laundering, fraud and financial abuse. However, Keith also has a background in philosophy and brings a wide-ranging and insightful perspective on the world in which we live. If you are interested in understanding the changes we are going through in finance, our economy, and in technology, I think we will enjoy and get a lot out of this episode.
We cover all of the above and more including:
- If the global financial system is safer now than in 2008;
- Where the next risks to the global economy may come;
- The benefits and limitations of cryptocurrencies;
- How the crypto world may evolve;
- The perils associated with technology and social media;
- Income and happiness
- Much more!
Show notes:
Keith’s firm, Data Derivatives
Keith on Twitter – he is admittedly less active here!
The EU General Data Protection Regulation (GDPR)
Mark Blyth – “the Hamptons are not a defensible position”
The Steiner Education Approach
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Sometimes, certain iconic film scenes serve as appropriate metaphors for phenomena in real life. In this episode, we talk about the world of cryptocurrencies. In searching for the appropriate comparative movie scene, I first considered the Matrix’s red pill / blue pill scene. Depending on what you think about cryptocurrencies, you might have varying viewpoints on whether they represent the red pill – emancipation from an artificial reality or the blue pill – a blissful, yet false fantasyland.
However, in speaking to Justin Recla, my guest in this episode, it actually dawned on me that the world of cryptocurrencies most closely resembles the cantina scene from Star Wars. You might find the best fighter pilot in the galaxy, but you are more than likely to run into many of the unsavoury characters crawling around the place. This is where Justin’s work comes in.
Justin is a former counter-intelligence officer with the US Army. Following a career in the military he and his wife Tonya (also my guest in episode 62), brought those skills to the business world. As of late, Justin has focused on cryptocurrencies. Through something called Crypto Bit Verified, a service of his firm Clear Business Directory, Justin conducts due diligence and vetting on cryptocurrency opportunities.
Whatever your views on cryptocurrencies are – if you think they are the future of finance, fairy dust, or just don’t know – one thing is clear: the media attention they have attracted has brought with it all manner of scams, ineptitude and other risks that many crypto investors either don’t see or don’t want to see. Justin’s work helps people distinguish between those opportunities that have a fighting chance, from those that have none at all.
We get into all of that in this episode. Justin shares his background, talks counterintelligence and how those skills are applied to crypto due diligence and vetting, the world of cryptocurrencies, the types of frauds and scams out there, how investors can protect themselves, and much more.
Show notes:
Cryptocurrency due diligence Facebook group
The Security and Exchange Commission’s alert “Ponzi Schemes Using Virtual Currencies”
_ _ _ _ _ _ _ _ _ _ _ _ _
Like what you heard?
Subscribe and/or leave a rating and review on:
- iTunes: http://apple.co/1PjLmKh
- Subscribe on Stitcher: http://www.stitcher.com/podcast/all-things-risk/the-all-things-risk-podcast
- Subscribe on Soundcloud: https://soundcloud.com/ben-cattaneo
Follow the podcast on Twitter: https://twitter.com/RiskThings
Drop us a note: allthingsrisk@gmail.com