“Deposits are not a prerequisite for banking any more.”
Theme: Because banks don’t have to have depositors to participate in banking any more, depositor service and consideration is no longer the highest priority, and bank account holders can be more liability than asset. Why? And what can average citizens do in response?
This is a truly great discussion around what is happening in and to the banking sector, and how entrepreneurs are addressing the problems inherent in the expanding restrictions on how citizens are permitted to spend their own money.
Participants: Brit Simon Dixon, investor and owner of BNKtotheFuture.com, an investment company; American Bill Barhydt, founder and CEO of Abra, an internet-native platform for earning, borrowing, and investing digital currencies.
Interviewer: Brit Robert McCormick, a bitcoin-centric podcaster who brought the participants together after having the experience of his bank, Lloyds, shutting down his account because he declined to explain to a bank investigator where he spent some of his on-deposit money.
This is a good, fact-centered discussion about the regulatory back-structure within the US, British, and (by extension) worldwide banking industry offered by two experienced guys who have been in traditional and innovative finance for decades. Included is an examination of what systemic risks bitcoin faces from the global financial regulatory regime.
Show: What Bitcoin Did (Airdate, April 14, 2021) 1hr 16min.