32. America's Tech Advantage and the Dangers of Regulatory Overstep - Shane Glynn

04/03/24 • 56 min

What lessons can we learn from the current tech regulation climate in the United States? CPSI Director Shane Glynn joins us for a great discussion on efforts to reign in the juggernauts of the technology sector and the market factors driving the latest wave of scrutiny over household brands like TikTok and Amazon.
The Caribbean may not be a major player in global information and technology, but it is a notable customer and beneficiary. Social media proliferation in the region facilitates the dissemination of news and politicians have jumped on the latest trends to reach a younger and more socially active electorate. Facebook, WhatsApp, Instagram, and TikTok allow ideas and movements to propagate throughout the region in mere seconds. The importance of these platforms has not gone unnoticed by US regulatory bodies. The courts argue that the ubiquity of these public forums has crossed the threshold for which they can operate without increased oversight.
In the case of TikTok for example, the geopolitical tension between Washington and Beijing has brought the popular video-sharing network within the crosshairs of Congress. Shane discusses the broader implications of recent congressional hearings and the shift it could cause in the greater regulatory landscape. America's competitive and technological edge is often said to be driven by its open markets and de-regulatory practices. A leader in innovation and information access, The U.S. is powered by a thriving tech sector that largely functions without the fear of government incursion. But could this edge be dulled by a renewed focus on censorship? What could this increased oversight mean for privacy, free speech, and accessibility for the satellite regions of the Caribbean and greater Americas?

Send us a text

Previous Episode

How to Dollarize Argentina, Exactly - Nicolás Cachanosky

Send us a text

In this fascinating episode, we dive into a more nuanced discussion for implementing dollarization in Argentina. Nicolás Cachanosky joins our Executive Director, Rasheed Griffith, for a detailed and technical rundown of the steps needed to transition the beleaguered economy to the US Dollar.
Firstly, there's the equilibrium rate. How many pesos would be needed to redeem one US dollar? How would this price be established? The government could remove the country's capital controls, which have been used to maintain an inflated and unsustainable rate. This would allow the market to determine a new rate at which the country would dollarize.
Secondly, you must dollarize the bank deposits. The checking and savings accounts of citizens and businesses must be converted to USD. This is the most straightforward step, as this form of money is purely digital. Bank deposits also act as a method of converting the physical currency into dollars when withdrawals are processed and redeemed in USD.
Thirdly, there's the dollarization of the central bank. Argentina's central bank is insolvent. Government bonds would be a viable solution if Argentina's trust rating on global markets weren't firmly in junk territory. To get around this problem, Cachanosky suggests using a special purpose vehicle, transferable bonds, equities, and other financial instruments based on assets in the government's portfolio, such as pensions and health insurance.
None of this can happen in a vacuum. Measures will also need to be taken to ensure that the policy changes are concrete enough to withstand a regime change. If successful, it could cause a cascade of financial reform across the Southern Cone and usher in a new financial era in Latin America.

Next Episode

33. The Caribbean's Technical Debt - Niel Harper

Send us a text

Where does Caribbean tech infrastructure stand today? Join Cybersecurity expert Neil Harper as we investigate the slowdown in innovation and standards adoption that could further erode the region's competitiveness and digital integrity.
Could 5G benefit the Caribbean? Neil says yes, outlining the surface benefits of the latest in cellular data technologies and how they could provide resilience in a disaster-prone region. 5G offers the opportunity to bolster telecommunications infrastructure with a smaller footprint that is less susceptible to natural phenomena like hurricanes.
What about security? The Caribbean has become a breeding ground for nefarious cyber activity, owing to a failure to adopt more stringent policies to protect its citizen's data. With the digitization of entire industries underway, a more systematic and meaningful approach to how information is handled, both at the business and legislative levels, will be required.