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The Man Writing the Future of Money in a Cashless Era

April 8, 2024 by Rich Turrin

I don’t dwell on it much, but at 62, I’ve racked up quite a few careers, and this podcast with Naqsh Haque of Machinelab Ventures got me thinking of them.

How many will you have with AI disrupting work?

I’ve had at least five so far, and I bet many of you will have just as many.

This was one of the most personal interviews I’ve ever had. In it, we discussed careers and how adversity shaped my career trajectory.

Talking with Naqsh was like talking to my favorite cousin Lucia; we could talk for hours! We covered careers, financial inclusion, China, why social media hones your communication skills, and even my mom!

Article

The full article is here, and I can’t recommend it enough! It is a bit of a personal portrait of me and the most fun I’ve had doing one of these podcasts in ages!

After leaving the corporate world, Richard found relevance in the digital realm, reconnecting with a web of former colleagues and weaving new bonds. Social media wasn’t just a platform; it became a lifeline. “It was a way of sharing,” he recounts, reminiscent of water cooler chats in the corporate corridors. The journey morphed into a dance with algorithms, as Richard, the self-professed computer geek, recognized the mechanics behind virality.

“I want to be good at it,” he asserts with the determination that characterizes every pivot in his career. This drive, to excel, to master the digital realm, spiraled into a weekly LinkedIn newsletter, where Richard’s words resonate with his 43,000 followers. A self-described “tireless evangelist for using technology to democratize access to financial markets,” Richard now finds himself an influencer, having reimagined banking and created a thriving Finech ecosystem.

Podcast Timeline and Key Moments

0:30 “I am a model citizen for having many careers. We all have to look at the concept that our careers aren’t going to be a linear path anymore, and there will be iterations of you, whoever you want to be.”

“We are all going to have multiple careers, and we have to expect career changes, don’t define yourself by a single job and get the sense of being lost if it changes.”

“My career changes were all born of adversity and forced job changes.

4:45 “No one calls their mother and says: ‘I want to be a social media influencer, are you proud of me?'”

8:50 If you think you’re cashless with Apple or Google Pay, it’s you’re not. It’s not the same as a super-app experience.

10:50 Digital yuan and financial inclusion!

14:00 Central banks aren’t looking at implementing monetary policy through CBDC, no negative rates.

16:50 Financial inclusion in China.

24:20 The look on people’s face when they are astounded by new technology. Digital tech is aspirational.

27:00 Why I am a tireless advocate for inclusion.

30:00 Why Visa and MC are losing SE Asia

33:00 When digital payments go bad. Loans can be very bad!

35:00 What I hope doesn’t happen with AI is that we get buried with chatbots. Voice is the OS for banking and money!

40:00 Your digital wallet will talk to you and become your coach, and it is critical for inclusion and the illiterate.

41:00 I have a fundamental belief that tech can make our world a better place.

42:55 My mom always said I never wanted to lose an argument!

43:25 What social media will teach you! Clarity of thought!! It is a tool for learning how to communicate!

48:45 Be digital; that’s what I told my nephew!

Podcast

YouTube player
Category: Banking, CBDC, China, Fintech
Rich Turrin

About Rich Turrin

Rich Turrin is the international best-selling author of “Cashless – China’s Digital Currency Revolution” and “Innovation Lab Excellence.” He is an Onalytica Top 100 Fintech Influencer and an award-winning executive previously heading fintech teams at IBM following a twenty-year career in investment banking. Rich is a leading media commentator and advisor on China’s digital currency and tech scene. Living in Shanghai for more than a decade, Rich experienced China going cashless first-hand.

Cashless Newsletter

Writing about Asia’s FinTech revolution from Shanghai, 16 years and counting.

Every week, 60,000+ executives, investors and policymakers read Cashless to understand what Asia’s technology revolution means for Western markets. Not theory. Not hype. Real insight from someone living it.

If you want to know where Western finance and technology are heading, the answers are already visible in China and Asia today. Cashless connects the dots from the geopolitics of digital currency and the stablecoin versus CBDC battle for monetary sovereignty, to AI adoption, FinTech innovation and the trends that Western analysts won’t see coming until they’re already here.

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RICH TURRIN

The go-to voice on Asia’s FinTech revolution. Fintech speaker, consultant and author — based in Shanghai, available worldwide.

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