Cryptocurrency: The Future of Finance and Money

Cryptocurrency: The Future of Finance and Money


(machine humming) – [Narrator] We use money every day, but we rarely appreciate
its power and its flaws. It’s a tool that has been at
the center of human progress, and as we build bigger and
tackle complex problems, we’re going to need the
best tools available. – We have a global economy. We’re going to need a
global digital currency. – Cryptocurrency is gonna be a great democratizing force for the world, because it’s gonna level the playing field and allow anybody with a cell phone to access financial services. – This is going to transform how we think about a real global economy. I think in order to
understand its importance, we first have to define
what currency means. What currency does is
it actually allows us to agree upon the value of something. It’s almost like a communication tool. – There are different ways
of coordinating human beings. One way that you can
do that is with money. You can incentivize people to try to work on the same thing at the same time. – We started off building simple systems like a bridge crossing a river to very amazing things like rocket ships. We went from interacting
with our neighbors to now transacting with
each other around the world, and we wanna make sure that people can move money freely, and our current financial system just doesn’t enable that. (chime) – So the current systems
are very centralized, We have big banks and big governments. There’s a lot of middlemen who make things incredibly inefficient. – When you talk about the problems with the existing financial system, you can go to a situation like Venezuela, where money is being printed and folks’ savings are
basically being destroyed. (shouting) – The value of their wealth
has been completely eroded. I think a lot of us in the United States sorta take this idea for granted, that if someone gives us money it’ll be in our bank account and it’s not gonna disappear or be taken away from us, and that’s really a luxury that many people in the
world don’t have at all. There are about 1.8 billion people in the world today who have a cell phone but don’t have access to
any financial services. What’s really powerful
about cryptocurrency is that it lets anybody, if you just have a smart
phone and internet connection, participate in the global economy. – What Cryptocurrency does is takes the stability that we have then gives it to the rest of the world. – If I have a dollar bill, I can hand that directly to somebody else. There was no bank in the middle there. With digital currency and block chain, it’s actually more similar
to cash, yet again, where I can send something
directly to somebody else and I don’t necessarily
have to go through middlemen like a bank or a credit card company. – We can go back to how
we normally transacted which is directly with each other, without all these giant
central parties in between. – When computer scientists talk about the concept called decentralization, what they mean is to avoid this idea of a single point of failure. – A single point of failure like we have with institutions. – If you have a single bank, and that bank has all your money, and then that bank fails, well, it runs out of money. Whereas, if you have lots of different individual nodes, hard drives, and phones, and so on, that have some money, they’re probably not all
gonna fail at the same time. – So you no longer need the middlemen to keep track of internal ledger. All these computers are writing everything down for you. – That network effect
makes it unbreakable. – The technology makes
us richer and wealthier, because you need less time, or less money, or less effort to get something done. – Right now, when people think of crypto, I think they think of investment. – There’s a lot of speculation. There’s a lotta talk of prices and how much money has been raised. But, it’s really important
to see past that. – It’ll shift to people
actually using cryptocurrency to buy goods and services
and transact in the economy. – That’s not just send
money back and forth. That means employ each
other or fund each other. – A more global economy is important, because there is talent everywhere, but opportunity is not evenly distributed. – In a world where this
technology is fully adapted, it won’t matter what
country you’re born in. All that will matter is that you have a mobile phone
and internet connection and you have skills and knowledge to learn and you can contribute
to the global economy. You can benefit from the world, and the world can benefit from you. – Think about what kind
of economy we could have if we had a global currency that we were all responsible for and all invested in. It opens up opportunity for everybody. – Just being able to trust that if I do good work in the world and someone compensates me for it, I will be able to keep that wealth, that’s such a powerful idea that it actually encourages people to try to do more good
things in the world. – If you’ve got lots of people who are invested in each
other’s success literally, they’re invested in each other’s success at a broader level. – I think cryptocurrencies are gonna be as impactful to humanity
as the internet has been. – Digital currency and
block chain can bind us in ways that we wouldn’t be bound before.

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37 Comments
  1. Mr Ahmed Bouchaibi

    Thank you. is best video in 2018 crypto currency is the future of economy & money

  2. Paul Ivan

    Great Video! very insightful and informative! if only Coinbase would allow signups by people from African countries like Uganda etc, so that they too can get the opportunity to get into the space, for better adoption.. Honest opinion!

  3. Marco Santino

    How to solve get paid in crypto and get rekt next week problem?

  4. Remi Odufuye

    Love this .. ultimately it promotes cryptocurrency adoption and helps us get away from centralized 🏦 🏦

    Great job guys !

  5. Taju Alim

    Where is our Bitcoin SV?!? Y’all got time to do all these videos, but are withholding our coins!

  6. Amit Sinnas

    Listen up all you XRP guys! No one wants your overpriced, irrelevant and centralized nonsense. So stop asking coinbase to list XRP !

  7. DAVONTE GRAVES #LYBB

    XRP IS SOO TRASH…..BUT TIME WILL TELL

  8. 2J

    good lord I hate XRP and XRP holders. no one wants to buy your centralized bank coin.

  9. nume prenume

    coinbase: the future of poverty

  10. Columbus Underground

    This 12 day wait on BCH is killing me

  11. Gana Moch

    Coinbase pls stop promoting urself and promote ur service instead

  12. Chiraag Sharma

    We need XRP do something

  13. NamJin Shipper's Club

    electroneum is the solution for developing countries

  14. jh bae

    Can u add XRP on ur platform in your cryptofuture?

  15. NonKisek

    "Freedom and brotherhood but dont forget to pay your taxes"

  16. Mari Boby

    for 10$ https://www.coinbase.com/join/58170f980b120a2a978c4a97

  17. TFV-solar

    Nice video, thanks.

  18. Earn Cash Store

    Great Video. Thank you for good work!

  19. Indrra

    👍👍👍👍👍

  20. Earn Cash Store

    Great Video. Thank you for good work!

  21. kanal06 kanal06

    cryptocurrency has no future because coinbase fraudsters exist. they scare buyers. they do not give development. only take money from customers

  22. James Ford

    coinbase has been always targeted on making money, perhaps it is not so bad in modern world, but they practice illegal moves and that is their problem!

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  24. LanceOnline

    Thanks coinbase you made it easy for me to get started.

  25. Akber ali Syed

    The crypto is a future of the world, but i couldn't see coinbase involve on this system because theit fee's quite similar with banks.

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    https://coinbase.com/earn/xlm/invite/gt45mdqn easy 10$ from coin base

  27. Tristan Hynes

    That Asian chick is cute lol

  28. Joan Zuniga

    Coming from the company is the middle man

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  30. Christina smith

    In this growing world its important to know about what coins we invest in and its very important that our safety and security is always there so investing in @telecoin is the smarter way of investment. @Telecoin transactions are anonymous since all the transactions can be seen but the owners Telecoin address is not revealed.

  31. J Grant

    What if governments limit one's access to the Internet? Or what if your national grid goes down? Or what if phone companies with the side of governments or large corporations add hidden software(?) to your phone to track or Limit what you can do?

  32. Darryle Pockett

    The only crypto currency backed by physical currency grade gold. I'm loving it

  33. Chico

    Everytime they say cryptocurrency they mean Bitcoin

  34. Me One

    Sounds like NWO 🤷🏽‍♂️

  35. Rahul Pratt

    Dear coinbase, you're saying everybody can participate with a smartphone and internet connection.
    Well, you have the age limit restrictions.

  36. Dave

    Hmm.. something just doesn't feel right about this whole Crypto-currency scheme… Unbreakable? Possibly. An anonymous creator👁️? Yes. A well managed inside job👌? Haha, very likely. 🤫

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