gold is $7.5 Trillion. Narrow money is $38 Trillion. Broad Money is $95 Trillion.
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the asset markets are massive. and until blockchains came along, they were basically UNTOUCHED by digitization and disruptive forces
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no more. I can send my mother money via bitcoin without going through my bank hours, without paying $35 wire fee - she gets it in 10 mins
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and let's talk about "trusted" intermediaries. As
@NickSzabo4 has written, vulnerability to a trusted 3rd party is a security hole.1 reply 26 retweets 137 likesShow this thread -
blockchains are going to expose these "trusted" intermediaries who extract raging economic rent and impose tons of friction.
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blockchains will chip away slowly, then rapidly, as user
#s go from millions today to tens of millions, then quickly hundreds of millions.3 replies 61 retweets 191 likesShow this thread -
the financial services industry represents 7.2% of US GDP and globally, takes in about $13 Trillion annually. That's going to all be in play
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Think of the disruption still going on from the digitization of information based on protocols that are 20 years old.
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think of how our global economy will change as money and other assets get "digitized" by decentralized and programmable blockchain protocolspic.twitter.com/raQGDTWpr9
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and the digitization of assets may not even the most disruptive part of blockchains...but that's for another day.
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have you looked at $IOTA? no fees. no mining. no blockchain. no scaling drama.
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