CryptoCities - Not Kitties, cities this time. Equally as crazy to imagine, but perhaps even more disruptive nonetheless. There's not much that Akon, the Mayor of Miami, and El Salvador have in common, but a dream of cities run on the back of digital currencies is certainly one.
Starting with one even your non-finance-hardo friends probably know about, rapper Akon has long held plans to build a smart city in Africa run on his namesake cryptocurrency, Akoin. The goal is to build a more stable, reliable currency to promote entrepreneurial ventures across the continent. Not sure if a rapper-based currency would be the move I went within that case, but more power to them.
Quickly becoming "Crypto City" already, Miami and Miami Mayor Francis Suarez have embraced the technology with open arms. Most notably. Suarez announced roughly a month ago that he will now be receiving payment in Bitcoin. Even bigger, the city itself has gotten cuddly with a cryptocurrency MiamiCoin with thoughts of making the digital token official within city lines.
Lastly and most recently, El Salvador and their wild man / innovative genius of a President, Nayib Bukele, have released plans to build a Bitcoin City within the nation. Already, BTC is legal tender in the Central American country and their treasury holds on it's balance sheet over 1,100 BTC, roughly $65mm right now. Crazy or genius? You decide.
Long story short, independent cities, states, and city-states throughout history have operated their own currency, so this is more Back to the Future than entirely groundbreaking with a long enough historical horizon. Although, I guess you could make a pretty good argument that the global economy has done pretty much fine without it.
Supply Chain-ging - First off, yes I did think of that section title weeks ago and I'm incredibly glad I'm finally able to use it.
Anyway, it seems that slowly but surely American companies are hammering out solutions, one way or another, to the global supply chain problems that have plagued 2021. Specifically, some of the heaviest hitters involved in our nation's industry, GM and Ford, are finally saying "f*ck it" to the chip shortage.
Almost simultaneously, the Detroit auto makers have decided that in the game of semiconductors, you can only trust yourself. Therefore, both firms have etched partnerships with homegrown semi makers to onshore these resources and avoid issues like labor shortages at the APAC semi factories, traffic jams at the Port of LA, and you know, like, if China really does invade Taiwan or anything. Ford and GlobalFoundries are homies now while GM has ganged up with companies like NXP Semiconductors and Qualcomm.
As EVs and soon AVs enter the game in a real way, auto maker's reliance on chips just grows more and more. And everybody knows Mary Barra needs her Pringles.