Very entertaining! it is doubtful however the current status quo of stalwart bank control would ever allow blockchain to supplant it. The financial system as we know it exists far too close to fiat currency and the governments which control the world economy. it will be far too easy for centralized governments and banks to impose tariffs and taxes blockchain currency rendering it ineffective to an established centralized currency. An example of this has already taken place in China. But, the video is a fun thought experiment.
Weighing two forces against each other in my head. One. Network effects. Smaller, decentralized currencies are inherently less valuable as only a few people recognize them. Smaller networks will be less useful because there aren’t that many possible transactions. But, two. The internet itself is an example of a decentralized system that becomes a powerful large system with strengths and weaknesses distributed. The jury is still out though whether the equality of the Internet is a sustained state or if it is simply an effect of a young capitalist market.
The Deutsche Bank example spoils it in the end. Any industry has a struggling former giant that has finshed its course and may still be held afloat for reasons of politics. That extreme, non representative example is not a demonstration, but rather weakens the argument. The rest is good though, nice synopsis.
Very entertaining! it is doubtful however the current status quo of stalwart bank control would ever allow blockchain to supplant it. The financial system as we know it exists far too close to fiat currency and the governments which control the world economy. it will be far too easy for centralized governments and banks to impose tariffs and taxes blockchain currency rendering it ineffective to an established centralized currency. An example of this has already taken place in China. But, the video is a fun thought experiment.
Time will tell...
Weighing two forces against each other in my head.
One. Network effects.
Smaller, decentralized currencies are inherently less valuable as only a few people recognize them.
Smaller networks will be less useful because there aren’t that many possible transactions.
But, two.
The internet itself is an example of a decentralized system that becomes a powerful large system with strengths and weaknesses distributed.
The jury is still out though whether the equality of the Internet is a sustained state or if it is simply an effect of a young capitalist market.
what program do you guys use to create these videos?
Apple Keynote
The Deutsche Bank example spoils it in the end. Any industry has a struggling former giant that has finshed its course and may still be held afloat for reasons of politics. That extreme, non representative example is not a demonstration, but rather weakens the argument. The rest is good though, nice synopsis.