The failure by Stripe to provide services to OMGYes, a site that offers educational videos in relation to women’s sexual pleasure, illustrates the difference between fintech and crypto. Fintech is the cool, slightly hippie version of the traditional financial system.… Continue reading OMGNo! Crypto and women’s sexual pleasure
How Barclays and Credit Suisse avoided a govt bailout during the 2008 financial crisis Nothing illustrates the fact that banks can create their own credit money better than the “investment” in Credit Suisse and Barclays Bank by Gulf investors during… Continue reading The Gulf Investor Deception
What do supporters of internet freedom, the yellow vest movement in France, the Occupy protestors and the Arab Spring have in common? A feeling of INEQUALITY. A feeling that the system has too much control and that it is unfair.… Continue reading What is a key cause of inequality in society?
People buy bitcoin because of value and values People buy bitcoin because it is a system of money that corresponds to how humanity has exchanged value for most of our history. Technologically, this system is based on mathematical formulae and… Continue reading Why do people really buy bitcoin?
Superior value and better values. Crypto currencies are a superior product to nation-state currency and the fractional reserve banking system, for these reasons: lower cost (transaction costs much lower than bank transfers) more convenient (you transact directly, cuts out the… Continue reading A little Comparison of the Crypto System and the Banking System
The story of money is the story of human evolution. Our ancestors’ development of money was driven by our biology and our values. The history of money can be separated into two parts: A period where money had an explicit link to value.… Continue reading Our ancient ancestors and money
TL;DR The core banking system sucks. It sucks for everyone, but it sucks more if you are poor or live under a dictatorship. Technology allows us to build a better core financial model. By core banking, I mean deposits and… Continue reading Creating a better banking system, for a better world
The crypto system will replace the current payments industry in the next decade. Here is why Current system The existing cards-banking system is based on pull technology, which is complex, costly and prone to fraud. The crypto payment system, based on push technology, is… Continue reading Crypto and the payments industry
I have a background in electricity, from when I was an investment banker. I worked in a Natural Resources & Power group for about 8 years and modelled electricity systems and assets in the UK and China in the context… Continue reading The reports of bitcoin environmental damage are garbage
The current crisis presents an opportunity for Swiss players to increase global market share and profitability. This will be driven by three main client demands over the next decade: Wealth preservation Openness Yield Swiss private banks are uniquely placed to… Continue reading Swiss private banking in the age of Coronavirus
Here is how to respond to those who are ignorant of the future, ranging from well-meaning family members to Nouriel Roubini types. 1. If they say: Crypto is for drug dealers. You respond: In the early days of the internet, many people… Continue reading How to debate crypto deniers and win
#3. Joseph Stiglitz. Referring to the concentration of economic power in the technology industry: “they have the power to raise prices well above the cost of production.” I know your head is stuck in Das Kapital, but it is the 21st century,… Continue reading The 3 most ridiculous things said by economists so far in 2020
Banks are dinosaurs. And DeFi is the meteor First seen in The Defiant Retail banks are dinosaurs. Bill Gates, 1994 Yet, despite this widespread belief, US bank deposits increased from $189 billion in 1994 to $7.8 trillion in 2019. Technology… Continue reading Why do we still use banks?
As the world faces an unprecedented economic crisis, there is a fundamental error in most policy-makers’ assumptions: they see banks as financial intermediaries. In this view, banks are simply intermediaries, charging for connecting surplus capital with productive opportunities. Essentially, it… Continue reading Don’t expect banks to lend again anytime soon
Historically, savers have been able to earn a decent return on their savings from investing in government bonds and holding their funds in a bank. This changed after the 2008 financial crisis. For the past decade there has been a… Continue reading The War on Savers
Cutting through the veil of lies, invented complexities and deceit In the event that you ever took a course in economics at university, there is a reason why you don’t know that commercial banks create the vast majority of the… Continue reading Where does money come from?
From Charles Ponzi to Bernie Madoff, financial con men all have one thing in common: obscurity. They operate in the dark. Investors now have a technology that can help protect them from being conned: it is called the blockchain. Not… Continue reading Ruvercap: Never Again