Jul 29, 2021
Join Alex & Jacki as they discuss the B Word Conference, held on July 21, 2021, with Steve Lee (Square Crypto) moderating a Q&A session with Elon Musk (Tesla, Starlink, Space X), Jack Dorsey (Twitter, Square), and Cathie Wood (Ark Investment) focused on Bitcoin. While Wood provided retail/institutional investors with honest insight on hedging against hyperinflation in emerging markets, Musk and Dorsey focused on the implications and applications of electronic peer-to-peer transactions made possible by the Bitcoin blockchain.
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Show Notes:
1:10 - Jack Dorsey sees Bitcoin as the native currency of the internet, allows underbanked populations to operate businesses from anywhere
1:30 - Cathie would advises hedging against hyperinflation — bitcoin can do that
1:50 - Remittance driving Bitcoin.
2:25 - fixed supply of Bitcoin
2:40 - democratization & transparency that Bitcoin allows
3:00 - Jack Dorsey working on a decentralized social media platform
3:15 - investments make the world go ‘round — and everyday people have transparent access
3:33 - Dorsey stated that Twitter and YouTube wouldn’t have been reliant on the traditional advertising model if Bitcoin had been around at their inception.
3:34 - shifting from advertising model, Brave browser has a privacy based model where users get paid in the basic attention token (BAT)
4:40 - applications (apps) being built on the Bitcoin blockchain
5:00 - Blockstack adds smart contract functionality to the bitcoin blockchain
5:25 - Elon asked Jack about Twitter accepting crypto … Dorsey is focused on reward-based cryptos
6:00 - ESG: Environmental, Social & Governance and what Bitcoin means in this initiative
7:18 - Elon mentioned that crypto has to translate to real-world products and services.
7:35 - Bitcoin allows you to be your own bank
8:00 - self custody of funds … moving from the centralization model to owning your own private keys, ending counter part risk
9:08 - Jack! We can’t wait to review the hardware wallet you’re working on!
9:35 - Mycryptoadvisor.com helps all sorts of people set up hardware wallets
10:00 - Bitcoin and the future of the energy industry
10:45 - Elon’s renewable energy future looks like wind, solar & battery cell storage.
11:00 - Jack Dorsey supports businesses that are utilizing all of the unused energy that is currently discarded and mentioned Great American Mining.
11:50 - Dorsey and Wood both touched on the innovation in the energy sector that are happening because of blockchain
12:05 - and soon we will talk about the blockchain projects focused on the renewable energy market
12:29 - Elon’s take on government and corporations, Dorsey wants world peace, the tech entrepreneurs seek to separate state and money.
13:08 - Bitcoin maximalists have a bad wrap, Cathie Wood encourages leading voices to push their research and white papers out in transparent ways especially through social media
14:26 - Retail investors & small businesses, reach out to become your own bank, hold custody of your keys on a hardware wallet, and navigate decentralized finance applications (DeFi) that provide global financial services.
15:05 - “Money is an information system for labor application.” - Elon Musk
15:30 - Bitcoin and blockchain aim to fix the foundation of money.
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Watch the B Word Conference here —> https://www.youtube.com/watch?v=Zwx_7XAJ3p0&t=1s