From the Desk Of A Trader #13
"the biggest learning and value is in the doing and experiencing it yourself"
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Crypto News
Luxor mines largest Bitcoin block ever, contains Taproot Wizard NFT (The Block)
EU eases regulatory burden for crypto smart contracts in draft legislation (The Block)
(Opinion) Why Venture Capitalists Won’t Be Held Accountable for Investing in FTX (CoinDesk)
Coinbase NFT Pauses New Collection Drops, Denies Shuttering Marketplace (CoinDesk)
Bank of China ex-advisor calls Beijing to reconsider crypto ban (CoinTelegraph)
Indian retail chain rolls out support for CBDC payments in stores: Report (CoinTelegraph)
Preserving and reinventing music festival legacy in the metaverse (CoinTelegraph)
India Keeps Crypto Tax Provisions in New Budget (Blockworks)
Crypto ETFs Outperforming AI by 26% Year-to-Date (Blockworks)
Solana-Based DeFi Protocol Everlend Announces Shut Down (Decrypt)
Chainalysis Says It’s ‘Well Capitalized’ Amid Latest Workforce Cut (Decrypt)
From The Desk Of A Trader
This week I gave a lecture for the Erasmus Commodity & Trade Centre to educate young executives working in the #commodities industry about applying the theory behind digital transformations in their real life, complex, company and business environment.
To prepare I did a lot of reading and reflecting upon my own experiences and I had a several aha moments. I learned a lot myself as I could compare my practical experience with theory from scientific articles and several consulting newsletters I subscribe to.
Going through all the reading I thought about an interview with Elon Musk where he was asked about how he interviews candidates.
He always asks candidates how they have solved a complex problem. People who have solved problems, or built a solution and breathed and lived the process of doing it themselves don't need any preparation to answer such question. They will be able to express and reflect upon every tiny little detail of how they went about, and the challenges they faced and how they overcame them.
From doing these things yourself you learn the most, and become valuable to others.
A good lecture enables the audience to apply the knowledge in a real life professional environment.
Therefore, I shared my experiences and gave a very recent example of how I applied the theory in a current #trading related digitization project I am working on.
Of course, we also touched base on ChatGPT. I had asked the magic bot about the topic of my lecture and at the beginning of it I said to the audience I would share ChatGPT's response at the end of it. I would then ask them whether they would have been fine with just ChatGPT's response, or whether my lecture provided more value.
A potentially tricky situation for the lecturer...
The conclusion was that ChatGPT's response was remarkably in line with the theory I had discovered in my preparation, but that it could not provide any context and guidance on how to apply the theory.
What I could do, and ChatGPT not, is explain how to make decisions, how to interact with stakeholders to get things done in a complex professional environment, how to adapt to constant change, be creative, and very important, trust your own judgement and be accountable for it.
As the theory gives you a good head start, and ChatGPT may be down due to huge demand, I am sharing my notes.
But the biggest learning and value is in the doing and experiencing it yourself.
#education #digital #transformation #innovation #business
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