Ben Gilbert: preference

Transcript context

…Indeed we will. That was fun. We're getting ahead of ourselves for sure. Of course, we're talking Bitcoin and of course, we're talking about the limitations of the traditional financial system, which to be clear is amazing and is one of the most incredible developments of human history. But it wasn't built for the internet. It was built for an age when the way that most people live their financial lives is once a week or more, maybe even once a day. They went to a building, called a bank with somebody who knew them there, they took money out of their accounts. That person was like, yes, I know who you are. I can verify your identity. I can give you your money. That building, those people were processing checks that you are sending. They knew what was happening. It wasn't built for the internet. Right. The most important thing for this system, the number one goal is that it keeps working. You can see why it just keeps happening this way because it works. It is the foundational underpinning of our economy, democracy. The system must keep working. Sure, we've layered on all kinds of crazy hacks over the years to make it work the way it does, but I'm a fan of it continuing to operate the way that it does without breaking. I see why it just keeps on keeping on. Exactly. How do we get here? Now we'll go back to history. Modern Bank started back in the 14th century during the Italian Renaissance.…

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