Decentralization, Assets and Privacy in the Twenty-First Digital Century

CIGI Paper No. 325

July 9, 2025

This paper examines the evolving landscape of digital privacy, decentralization and digital assets in the twenty-first century. It explores the transformative impact of those technologies — driven by the exponential growth of semiconductors — in the past decades on the widespread adoption of artificial intelligence, the Internet of Things and blockchain today. The analysis highlights how these advancements challenge traditional regulatory frameworks and reshape social, economic and governance structures both domestically and internationally. It emphasizes the rise of centralized digital oligarchies and the implications of decentralized finance and central bank digital currencies on financial stability, privacy and monetary sovereignty. The brief also provides a geopolitical perspective on privacy, security and digital assets by emphasizing the strategic role of cryptography. It concludes with policy recommendations for Canada and reflects on the need for a “Digital Bretton Woods” to ensure financial stability and social welfare in the digital age.

About the Author

Andreas Veneris is a Connaught Scholar and professor in the Department of Electrical and Computer Engineering, cross-appointed with the Department of Computer Science and the Munk School of Global Affairs & Public Policy at the University of Toronto.