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 Banking as an institution is obsolete; it may take 20-30 years before you see that ripple through the world, but it will.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.

The first clip is from a talk which took place on October 19th 2016 at the Bitcoin Wednesday Meetup in Amsterdam, Netherlands:

Event Info:

Presentation Info:

Watch the full talk here:

The second clip is from a talk which took place on September 20th 2016 at the @SFBTCMeetup in San Francisco, California:

Watch the full talk here:

“Chiken Eggs” by Proof-of-Beats:

Bitcoin and the Banks: Five Stages of Grief –
The end of vampire-squid financing –
Bitcoin Security: Bubble Boy and the Sewer Rat –
The Stories We Tell About Money –
Fake News, Fake Money –
The Killer App: Engineering the Properties of Money –
Open Blockchains for Cashless Developed Economies –
Separation of money and state –
How will the currency war affect companies? –
ICOs and financial regulation –
ICOs and responsible investment –

Are you a banker wondering whether Bitcoin and open blockchains are about to disrupt your industry? I have a playlist for you:

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

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.




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Music: “Unbounded” by Orfan (
Outro Graphics: Phneep (
Outro Art: Rock Barcellos (