Bitcoin Q&A: Why Developers are Leaving Banks
Channel: aantonop
Date: 2017-08-17

Banks are investing hundreds of millions of dollars in the blockchain ecosystem, training tens of thousands of developers to build things that won't work. The future role of banks in the economy. Horse carriages in Central Park did not completely disappear because of cars. They will be used for legacy applications. "Centralised blockchains" are a contradiction in terms because the purpose of a blockchain is to allow for/ increase decentralisation. Banking as an institution is obsolete; it may take 20-30 years before you see that ripple through the world, but it will. I'm hoping the best of the best of these developers take a couple of years getting bored doing proof-of-concept on reinventing spreadsheets, and then use their Christmas bonus to fund a start-up that will compete against their former employer who taught them how to do this. I've talked to people from these banks who've done this. Competition will determine the outcome in the market, and if you continue to build horse buggies in the age of the automobile, you go out of business. The dinosaurs will survive but they will change and lose enough power until they become chickens. That's what happened to the dinosaurs, and we have their children for breakfast every morning.

Chapters
0:00 Banks, they play a huge role in our economy. What is going to happen with them? What is going to be the bank's role in 2018? Are they going to disappear?
0:49 That's actually what they're doing right now, with the blockchain that they're building. The centralized blockchain.
1:53 In Sydney, there's a lot of talk about blockchain, because there's a lot of fear from the banks. How can we use the fear from the banks to make sure we build the ecosystem and do all the great things that we want to do?

The first clip is from a talk which took place on October 19th 2016 at the Bitcoin Wednesday Meetup in Amsterdam, Netherlands: https://www.meetup.com/BitcoinWednesday/events/234498117/

Event Info: http://www.bitcoinwednesday.com/event/special-edition-19-october-2016/

Presentation Info: http://www.bitcoinwednesday.com/antonopoulos-money-under-surveillance/

Watch the full talk here: https://youtu.be/3MLy5Z5ISeA

The second clip is from a talk which took place on September 20th 2016 at the @SFBTCMeetup in San Francisco, California: https://www.meetup.com/San-Francisco-Bitcoin-Social/events/228473660/

Watch the full talk here: https://youtu.be/UJSdMFPjW8c

"Chiken Eggs" by Proof-of-Beats: https://soundcloud.com/proofofbeats/chiken-eggs

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Bitcoin and the Banks: Five Stages of Grief - https://youtu.be/43Ucj6_Erb0
The end of vampire-squid financing - https://youtu.be/yyXOQG5iNWo
Bitcoin Security: Bubble Boy and the Sewer Rat - https://youtu.be/810aKcfM__Q
The Stories We Tell About Money - https://youtu.be/ONvg9SbauMg
Fake News, Fake Money - https://youtu.be/i_wOEL6dprg
The Killer App: Engineering the Properties of Money - https://youtu.be/MxIrc1rxhyI
Open Blockchains for Cashless Developed Economies - https://youtu.be/eo-0BgrKxiI
Separation of money and state - https://youtu.be/jGmtRA9S7_Y
How will the currency war affect companies? - https://youtu.be/c9MIM2vZUZc
ICOs and financial regulation - https://youtu.be/Plu_WX3Gs8E
ICOs and responsible investment - https://youtu.be/C8UdbvrWyvg

Are you a banker wondering whether Bitcoin and open blockchains are about to disrupt your industry? I have a playlist for you: https://www.youtube.com/playlist?list=PLPQwGV1aLnTu45KFS6Sq6Z05qToY-n_k2

Andreas M. Antonopoulos is a technologist and serial entrepreneur who has become one of the most well-known and well-respected figures in bitcoin.

Follow on Twitter: @aantonop https://twitter.com/aantonop
Website: https://antonopoulos.com/

He is the author of two books: “Mastering Bitcoin,” published by O’Reilly Media and considered the best technical guide to bitcoin; “The Internet of Money,” a book about why bitcoin matters.

THE INTERNET OF MONEY, v1: https://www.amazon.co.uk/Internet-Money-collection-Andreas-Antonopoulos/dp/1537000454/ref=asap_bc?ie=UTF8

MASTERING BITCOIN: https://www.amazon.co.uk/Mastering-Bitcoin-Unlocking-Digital-Cryptocurrencies/dp/1449374042

[NEW] MASTERING BITCOIN, 2nd Edition: https://www.amazon.com/Mastering-Bitcoin-Programming-Open-Blockchain/dp/1491954388

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If you want early-access to talks and a chance to participate in a monthly LIVE Q&A with Andreas, become a patron: https://www.patreon.com/aantonop

Music: "Unbounded" by Orfan (https://www.facebook.com/Orfan/)
Outro Graphics: Phneep (http://www.phneep.com/)
Outro Art: Rock Barcellos (http://www.rockincomics.com.br/)
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