Why do people really buy bitcoin?

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 a straight-forward verification and record system. The implications are spectacular: you can now trust exchanging value … Continue reading “Why do people really buy bitcoin?”

5 min read

A little Comparison of the Crypto System and the Banking System

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 bank/credit card company middlemen). fixed supply. greater alignment with our better human values. The crypto … Continue reading “A little Comparison of the Crypto System and the Banking System”

4 min read

Our ancient ancestors and money

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. This period existed from the dawn of money in Neolithic times, as humans started to … Continue reading “Our ancient ancestors and money”

12 min read

Creating a better banking system, for a better world.

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 banking model. By core banking, I mean deposits and loans in the real economy. Not just transferring value between users or creating synthetic financial … Continue reading “Creating a better banking system, for a better world.”

14 min read

Crypto and the payments industry

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 simpler than and will replace the old system. A decade from now no one will … Continue reading “Crypto and the payments industry”

7 min read

The reports of bitcoin environmental damage are garbage

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 of acquisitions, capital raisings, restructurings, and regulatory submissions. One of the banks that I worked … Continue reading “The reports of bitcoin environmental damage are garbage”

34 min read

Swiss private banking in the age of Coronavirus

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 respond to these client demands. The last decade wasn’t that great for Swiss private banks. … Continue reading “Swiss private banking in the age of Coronavirus”

5 min read

How to debate crypto deniers and win

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 had older relatives who listened disapprovingly to talk about “that internet thing” and declared that … Continue reading “How to debate crypto deniers and win”

12 min read

The 3 most ridiculous things said by economists so far in 2020

#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.”[1] I know your head is stuck in Das Kapital, but it is the 21st century, man. Get with it. No one talks about the cost of production in the tech … Continue reading “The 3 most ridiculous things said by economists so far in 2020”

3 min read

Your Savings Account is Not as Safe as You Think (And What a Safe One Looks Like)

Keeping your money in a savings account can be riskier than you think. For starters, a savings account is part of the core banking system and is therefore subject to the risks that the banks are exposed to. This puts your principal and possible returns at the risk of loss. It’s important to dive deeper … Continue reading “Your Savings Account is Not as Safe as You Think (And What a Safe One Looks Like)”

8 min read

Generating returns from the real economy

Creating an insured, interest-bearing deposit account, on chain. One of the most entrenched narratives in finance is that banks are simply neutral actors in the economy, charging for connecting surplus capital with productive opportunities. That is the Walt Disney version of banks and it is almost completely a lie. Banks are inefficient, high-margin businesses that … Continue reading “Generating returns from the real economy”

3 min read

Taking Banking back to the drawing board

There’s something seriously wrong with our banking system. To fix it, we need to do a 180. The fractional reserve banking system is a fraud. Together with the misuse of interest rates by central banks, the fractional reserve system is the root cause of most evil — generating inequality and financial crises that ruin lives and livelihoods. … Continue reading “Taking Banking back to the drawing board”

3 min read

Don’t expect banks to lend again anytime soon

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 sees them as neutral actors in the economy. That is the Walt Disney version of … Continue reading “Don’t expect banks to lend again anytime soon”

6 min read

Where does money come from?

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 money supply: you have been lied to. As an example, Gregory Mankiw’s Macroeconomics, the most widely … Continue reading “Where does money come from?”

11 min read