Bill Barhydt is the CEO and Founder of Abra. In this interview, we discuss institutional investment, the long term debt cycle, the end of fractional reserve banking and how Bill gave away thousands of Bitcoin.
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The current banking system is broken. Millions of people around the world still don't have access to proper banking services, the payment rails that facilitate transactions are old and costly, and trust in financial institutions is low.Â
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To add to this, currencies around the world are being debased at a rapid pace. Over the last few years, central banks have printed huge amounts of money that is now showing up in inflation, which has a disproportionate impact on the poorest in society. 50% of Americans now have more credit card debt than savings.
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Bitcoin started as a cypherpunk experiment, but its sound monetary properties have led to it becoming a real lifeboat for those who are economically adrift. With the banks losing momentum, is Bitcoin mature enough to take up the slack?
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However, you see the future of money and banking - one thing is clear Bitcoin will play a role. The question is, how big will that role be?
