Updated: Mar 16
First of all, if you don't know Gaia - it's netflix but for mind-body-spirit shenanigans and all the bell curve, fringe documentaries you can handle.
I would be a regular frequenter of said platform.
It's where I found this gem - #Cryptopia
I hit play because I'm doing a lot of research on the role of tech, crypto and blockchain as it relates to #TheConsciousEconomy #TheMeaningfulEconomy for a project I'm running here on #insideGROWTH - there is a mega trend picking up speed and force and I want to understand tech's role in it all.
While I have a good few years under my belt working in the Financial Services sector - London & Dublin, I am by no means the Technical Expert. I'm the human behaviour expert, the communications lead and everything in between those two points.
But Crypto is playing a role in changing our economy and I wanted to see if I could glean enough to wrap my wee brain around HOW it is doing that. This movie shed a bit more light for me to see a wee bit further.
Sustainable is an important keyword here.
When something is not sustainable, mini packets of crisis pop up and when enough of them do, innovation is born. It's like a law.
The Financial Institutions, the Banking system - well, there's a need for innovation.
We're seeing it already with digital banks, challenger banks, N26, Revolut to name a couple of the more than 5 dozen here in Europe.
Then we have TransferWise (recently renamed Wise), Stripe - PayPal's competition, and now we have pop up branches in the high streets, and mobile banking of course.
All of these are forms of (brilliant) innovation responding to the packets of crisis showing up inside the Financial Infrastructure that is our banking system.
We can send an image on our mobile device to anyone in the world... or on a plane in the sky - instantly and as part of our mobile phone contract, but if I want to send my money to Canada and its 5pm on a Friday? I'm waiting till Monday and paying a hefty price for the privilege.
The Banking system is built on legacy technology - think 20 and 30 years old when I say legacy - and to upgrade that technology takes approx. 3 years and an investment of ... well millions, nevermind the impact that has on staff, procedures, policies - its an enormous undertaking.
So yes - the system is slow to evolve and embrace the 21st century - maybe because there wasn't much of an alternative for us. The banks own us - and thus,
Innovation is hell bent on plowing forward, head first, spears at the ready....
#Cryptopia would introduce a much stronger case for the need to decentralise currency. You could even say, a compelling case.
From banks doing as they like because they are
"too big to fail, too big too jail' - and the fact that taking action against them has a significant impact on our economy.
The film goes on to document the third world countries making crypto illegal. Banning it out right -
While this was all strong indications that there are pockets of crisis (multiplying) inside our Banking system, which can only be met with Innovation, I wanted to see more.
To understand more about the role #DigitalCurrency and #BlockChain Technology was either, being used, or planned for use inside this mega trend - that has a few names, #TheConsciousEconomy #TheMeaningfulEconomy that gives rise to #Intrapreneurs #Innerpreneurs and those opting to make money (digital or otherwise) from what is meaningful to them.
Before I get to find out if the film offers up what I am looking for for my own research agenda, the film offer me up some of this.... former Global COO Deutsche Bank, now with his own Digital Assets Under management (DAUM) set up in Malta. I think I heard them say $100 million.
Listen for yourself...
More evidence that we appear to be on an unstoppable path to digital currency, that blockchain and crypto are going to shift and change and adapt into the future with us. Because, I don't know about you, but I'm not sure anyone has found a way to stop the internet. Well, I guess we could just turn it off, but that's probably not going to happen.
What I got next wasn't exactly what I was seeking, but it was good.
The never ending list of #Cryptopian ideas...
Bitcoin doesn't care about human drama or anyone's opinion, or politics, or regulation.
So what's possible, then?
Bank the unbanked?
Digital Gold - a new asset class?
A bet against bankers?
Insurance against inflation?
Protection against politicians?
Weapon against the state?
Platform for fairer finance?
New protocol layer for the internet?
Dethrone tech giants?
Reclaim free speech?
Protect online identity?
Freetrade and borderless?
Rebuild trust in society?
Maybe even save the planet?
While I didn't get what I was after, I got a lot.
If you're reading this post, then I'll assume you'll be on your way to Gaia, to watch #Cryptopia for yourself -
I'll sign off with this...
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