The beauty of a monetary system-one that’s built on the #blockchain-is that it allows people to buy something inexpensive as a cup of coffee. At #LDNBlockchain23, economist Peter Schiff shares his ideas about the role blockchain and gold can play in the global monetary system and the inevitable financial turmoil he says is right around the corner.
Hear about the future of blockchain governance at the London Blockchain Conference taking place at ExCeL London on May 21-23, 2024. Get your tickets today! #LDNBlockchain24
Timestamps:
00:00 - Introduction
00:08 - Peter Schiff's keynote presentation intro
00:20 - How blockchain reintroduce gold in finance
02:24 - What happened in 1971?
03:45 - US's annual budget deficits
04:47 - Massive Economic imbalance bubble and inflation
06:45 - Future of gold replacing US dollar with blockchain
08:46 - Bitcoin's selling point vs. gold
11:38 - Reintroducing a superior form of money
15:17 - What will drive the use of real money on blockchain?
18:39 - Using gold for money
19:39 - Authenticating digital currency's legitimacy with blockchain
20:41 - Gold's value, properties and use
22:21 - How do we use blockchain to reintroduce gold?
24:45 - Peter Schiff's keynote presentation end
25:00 - Question and answer starts
25:41 - More value-adding future for BSV
27:55 - Digital gold alternative to CBDCs
31:01 - Digital currencies traceability
34:50 - Peter Schiff's definition of a perfect blockchain
35:55 - Will frictionless blockchain be free?
37:50 - Cheap, transparent blockchain to print gold-backed tokens
41:18 - Why gold is an integral part of the Bitcoin ecosystem
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