Hello McFinancers!

The latest in financial news: As AI advances so will workers and is Stellar the host of most country’s CBDC (central bank digital currency).

A Word From Our Sponsor:

Ledger is a leading provider of hardware wallets, revolutionizing the way individuals safeguard their cryptocurrencies. As a trusted name in the industry, Ledger offers a secure and user-friendly solution for storing digital assets through its cold wallet technology. By leveraging offline storage, cold wallets ensure that private keys are kept entirely offline, safeguarding against online threats and potential hacking attempts. This fortified protection greatly reduces the risk of theft and unauthorized access to funds, granting users peace of mind and full control over their assets. With Ledger's cold wallet, cryptocurrency enthusiasts can confidently navigate the digital realm, knowing their investments are shielded by top-tier security measures.

AI Use In The Workforce

Former Secretary of Labor, Robert Reich, has highlighted the transformative impact of AI advancements on the dynamics between employees and employers. The integration of AI into corporate operations promises to boost production efficiency significantly. As AI continues to advance, it will gradually assume roles traditionally performed by humans, such as customer service positions. This trend may lead to a scenario where job opportunities diminish due to AI's capabilities, ultimately prompting the need for a universal basic income, according to Mr. Reich. Such an income system could serve as a vital safety net, providing individuals with financial support amidst an era of AI-driven product innovation, even when job opportunities become scarce. Mr. Reich asserts that a universal basic income may become imperative for sustaining this kind of economy.

CBDC Hosting on Stellar

As nations worldwide embark on the journey of designing and implementing Central Bank Digital Currencies (CBDCs) to enhance transaction efficiency and security, a notable trend has emerged – the utilization of Stellar to facilitate payment transactions. Stellar's blockchain stands out for its cost-effectiveness and remarkable capacity to process thousands of transactions per second. This strategic choice of blockchain technology by multiple countries not only streamlines international payments. It also paves the way for friends and families to effortlessly send money to their loved ones in their home countries using transactions that are faster and more secure. A notable example is Brazil's 2022 initiative, where they used Stellar's capabilities to explore their own version of the Digital Real via blockchain technology, joining a growing list of nations leveraging Stellar for CBDC experimentation.

What Does It Mean For You?

Investors should upgrade to premium.

Upgrade to Premium Today!

Upgrade to our premium subscription to get more investing insight:

1. More updates on the market with an analysis of what it means for investors to help you stay ahead.

2. Training Videos to help teach you about investing in the stock market, crypto, real estate, commodities, alternative investments, or business,

3. Access to all published books by McFinance for FREE.