CEO of BnkToTheFuture.com, early Bitcoin investor, and financial expert Simon Dixon shares his vision for monetary reform through digital currencies in the latest episode of Off the Ledger with Jason Butcher.
As an early investor in Bitcoin and co-founder of the world’s first Crypto Securities business, to call this week’s guest an oracle on digital currencies is no exaggeration. A passionate advocate for monetary reform, Simon Dixon explains the intersection between traditional finance and crypto, and shares his vision for the future of money.
Few people can speak with such clarity on the inception and growth explosion of digital currencies, and Simon believes that we are seeing a “perfect storm” for crypto adoption today, with the “traditional financial system providing the worst user experience” and people seeking out new answers in crypto. As he puts it:
“People are questioning the system, and that inevitably leads them to question: ‘well, where is all this money coming from?’ […] ‘Why are stock markets at all-time highs, yet we have this ginormous pandemic?’ It’s not making sense to people.”
Simon also shares some incisive views on how regulation has “ruined the user experience of money” although he recognizes the importance of regulation across the crypto industry when applied appropriately. He says:
“Regulations have shifted from consumer protection to anti-consumer protection in the guise of preventing money laundering.”
Jason and Simon go on to discuss how centralized, traditional banking can work in equilibrium with decentralized finance (DeFi), with regulation meant to encourage innovation in both camps. Talking about the founding of BnkToTheFuture, Simon offers a definition of the traditional finance system as “debt-based” versus the wealth creation approach offered by digital currencies. As he says:
“The [traditional financial] system is designed to screw the biggest number of people and create a wealth inequality gap…Bitcoin did the opposite. It said, ‘let’s build an equity-based economy,’ where the fundamental value of the money is not underpinned by debt.”
And this potential for wealth creation, according to Simon, is why Bitcoin remains the single most disruptive innovation in monetary reform to date.
“I don’t think we will ever, in our lifetime, see another shot at achieving digital, hard sound money, which is why Bitcoin is to be protected.”
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