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Cryptocurrency may be able to increase financial inclusion and speed up transactions.

August 19, 2025 / 01:33

This episode discusses the limitations of the current financial system, the potential of new technology to solve these issues, and the importance of financial inclusion. Key topics include transaction settlement times, high fees, and the unbanked population.

The conversation highlights how traditional stock transactions can take up to three days to settle, while advancements in technology have reduced this time to one day, with aspirations for real-time settlements. The guest emphasizes the need for a system that operates 24/7 and can facilitate programmable payments.

Another major point raised is the high fees associated with transactions, particularly in the United States, where merchants often bear the costs. The discussion suggests that existing financial players resist adopting better technology due to a lack of incentive for change.

The episode also touches on the issue of the 4 billion unbanked individuals worldwide, framing the conversation around economic and financial democracy.

TLDR

The episode critiques the current financial system and discusses technology's role in improving transaction efficiency and inclusion.

Episode

1:33

00:00:00

change just for the sake of change might not be that useful. You need to be solving problems and this new technology

00:00:09

offers the potential to solve many problems. In our system of equities at the time of kind of the foundational

00:00:17

sort of work in crypto, it took 3 days to settle a stock transaction. Now we've

00:00:23

improved to one day and it should be a matter of seconds. Our current financial system is very exclusive. So there are 4

00:00:33

billion people in the world right now that are unbanked. So this is about inclusion and fundamentally economic and

00:00:41

financial democracy. >> Number one, you can't settle 24/7 365. Can't settle money. You can't sell

00:00:48

equities with the existing financial system. Second, you can't really make programmable payments. It's really

00:00:53

difficult to marry software with the movement of money. And then third, the fees are way too high. In the United

00:01:00

States, merchants mostly bearing the costs which they pass on to consumers up to 3%. But you know, everywhere we're

00:01:06

paying way too many fees, especially unfortunately for things like remittances and crossber transactions.

00:01:12

So it's not that we didn't have the technology to settle 247 or it's not

00:01:17

that we didn't have the ability to reduce fees. It's that the existing players didn't want to deploy better

00:01:24

technology. They didn't want to change.

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Episode Highlights

The Potential of New Technology
New technology offers the potential to solve many financial problems, improving transaction times significantly.
“Now we've improved to one day and it should be a matter of seconds.”
@ 00m 20s
August 19, 2025
Financial Inclusion
4 billion people are unbanked, highlighting the need for economic and financial democracy.
“This is about inclusion and fundamentally economic and financial democracy.”
@ 00m 38s
August 19, 2025
High Fees in Transactions
Current financial systems impose high fees on transactions, affecting consumers and merchants alike.
“Merchants mostly bearing the costs which they pass on to consumers up to 3%.”
@ 01m 00s
August 19, 2025

Episode Quotes

This is about inclusion and fundamentally economic and financial democracy.
Cryptocurrency may be able to increase financial inclusion and speed up transactions.
You can't really make programmable payments.
Cryptocurrency may be able to increase financial inclusion and speed up transactions.
The existing players didn't want to deploy better technology.
Cryptocurrency may be able to increase financial inclusion and speed up transactions.

Key Moments

Financial Democracy00:38
High Transaction Fees01:00
Resistance to Change01:21