The co-founder of ethereum, Charles Hoskinson, explains how cryptocurrencies open up the possibilities to make life more convenient and why it is the biggest innovation in finance since banking. This clip is excerpted from a video published on Real Vision on December 11, 2017 entitled â€œEthereum Co-Founder on ICOs and the Future of Investing.â€
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Crypto's Future Applications (W/ Charles Hoskinson)
For the full transcript visit: https://www.realvision.com/tv/videos/cryptos-future-applications
Now, if we can get to that reality, we start caring a lot less about our local money. It doesn't
really matter if you live in Argentina and the peso is not doing so good, because you can just
rebalance your portfolio and say, you know, I'm actually pretty long on the dollar. I'm just going
to go for that. Or I like gold, so I'm going to store all my wealth there. So now what we've done is
we have taken a person where their financial life is determined by geography, and we've now put
them in the driver's seat of their financial life. They get to make the final say about their portfolio
and how they store their assets.
And by the way, every single one of these assets are going to be secure, they're going to be well
accounted for, they're going to be free of fraud, or a lot more resistant to fraud, they're going to
move at the speed of light, that you're going to be able to buy and sell them at a fair price, and
there's no longer a siloing effect that occurs, where your equities live here and your bonds live
here and your currencies live there and your commodities live here.
They're all just treated as the same under the same type of protocol, and they flow just as fast as
email. If we can accomplish that by 2030, I think that the cryptocurrencies will have become the
greatest innovation of the last 500 to 1,000 years, since the invention of banking and the
invention of the printing press. And that'd just be an amazing future to live in.
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