Liquidity-saving mechanisms in trade credit networks: Optimising corporate liquidity
Trade Credit Liquidity Savings Mechanism vFTrade Credit Liquidity Savings Mechanism vF.pdf1 MBdownload-circle Trade credit, or the delayed payment for intermediate goods, has been reported as an important source of short-term external finance for many non-financial firms. The value of trade payables is comparable with that of outstanding corporate bonds
IP considerations in consulting/services agreements
As a result of Vision 2030, there is a tremendous amount of innovation occurring across every dimension of Saudi Arabia: from the digital transformation of government, the development of the gigaprojects (such as NEOM), or the vast efforts of the Public Investment Fund to accelerate the growth of the non-oil
Designing a privacy preserving rCBDC
There has been a lot of global debate about privacy in the context of retail CBDCs, particularly in the context of them being a replacement for cash. The perception is that the introduction of a retail CBDC would enable broad surveillance powers for the government as well as the ability
Decentralized Liquidity Savings Mechanisms with Privacy-Preserving Cryptography
In the context of the wCBDC discussion, there is a lot of focus on the standard lifecycle of the CBDC from issuance through to redemption but not as much consideration of the possible liquidity implications. One of the most powerful concepts in financial markets is the concept of the Liquidity
Money is a General Purpose Technology
There are certain technologies that are characterised as General Purpose Technologies (GPTs). These are technologies, like electricity or the computer, that have a very large economic impact: often at a national or global level. They are characterised by their broad usefulness and applicability to different sectors and applications; they are,
ChatGPT is the ‘Netscape moment’ for artificial intelligence’
Originally published in Arab News. It is impossible for anyone to have missed the excitement generated by ChatGPT. Countless articles on the subject have been written, including many by ChatGPT. While underlying technologies, such as deep learning, are not new, ChatGPT’s rich conversational interface has captured the popular imagination
AI might not take jobs but it will take tasks
Artificial intelligence (AI) and specifically Large Language Models (LLMs) are what is defined in the economics literature, as a General Purpose Technology. These are specific classes of technology that demonstrate improvements over time, become pervasive throughout the economy, and typically lead to the spawning of complementary innovations and positive spillover
On impossible grammars and Large Language Models
The interest in Large Language Models (LLMs) has led to a resurgence of popular interest in cognitive science. One of the interesting questions that come up is whether these models understand language; that is, whether they have developed some form of cognitive ability. The results of models such as GPT4
Living and working in the metaverse
Originally published in Arab News. In the 1930s, Nobel Prize-winning economist Ronald Coase wrote a seminal essay on the nature of the firm, explaining the reason for the emergence and growth of companies. He argued that firms are what they are because of transaction costs. It is not cost-effective to
Intellectual Property and the Metaverse
Amidst all the excitement about the metaverse, it's always interesting to think about what else needs to evolve; what are the second-order effects that we need to consider. There are, broadly, an interesting set of legal issues and questions that arise from the metaverse. I have written, for example, about