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Mapping the World of Crypto and Global Development — as it currency exists

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Crypto Developers

Mark Leon Goldberg: [00:27:35] What’s happening in in this space as you describe it — particularly in terms of entities or organizations that are actively trying to harness this technology for global development? I saw the head of the third largest cryptocurrency by market cap tweeted out that he’s traveling through Africa to meet with various heads of state in Burundi and Kenya and Egypt. So, it seems there are people that are focused on this. Can you map that world briefly? [00:28:16][41.5]

Garry Golden: [00:28:17] Yeah. So, well, big picture what I think is happening. We’re still stuck in the first phase where we think that the wealth creation in cryptocurrency is going to come from owning the coins, having the coins go up in value and selling the coins. [00:28:33][15.8]

Mark Leon Goldberg: [00:28:34] Speculation. [00:28:34][0.0]

Mark Leon Goldberg: [00:28:35] Speculation vs. the social wealth that is going to be created in cryptocurrencies will be because cryptocurrencies and DeFi and decentralized identity exist. And the analog for people that are kind of like “what does that mean?” Remember the dot com bubble of the late 1990s when the internet came out? Everyone thought that this internet was so cool, so fascinating, and they thought the way to make money with the internet was buying the stocks — the dot com stocks. It turned out 15 years later that the wealth is created because we have things like YouTube that allow us to have our own video publishing platform. We have payment solutions, we have access to delivery networks. So the wealth was created not from the dot com stocks, but by having the internet itself. [00:29:27][52.9]

Garry Golden: [00:29:28] And we’re still stuck in that first stage. People don’t see that having decentralized identity and finance is going to generate wealth. We’re still stuck on, you know, on the coin, make the money off the coin! So that’s kind of my my big picture take. [00:29:45][16.6]

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