This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
To understand it, you have to go back to before the crisis was apparent to everyone — both during the Great Depression and during the 2008 financial crisis. Back before it became apparent that a financial crisis was happening, there was an immense amount of leverage in the banking system over which Bernanke had a responsibility to regulate.
Petal wants to change the math on how consumers gain access to credit – and turn the tables on how creditworthiness is assessed. Today, they mostly can’t – but in the world of Petal’s newly released product with WebBank , it is their sincere hope that availability becomes a more regular part of the financialsystem, and soon.
And I did a lot of options math, which I thought was interesting. So I had some experience in Africa that was able to leverage for this role. ’cause these are companies and in some cases countries that were never really fully integrated into the global financialsystem. And I just learned a tremendous amount.
You know, people are comfortable, leverage builds. You know, the leverage in the system builds. You know, started with Bear Stearns, and then all of a sudden, financial institutions are levered entities. And you know, you have whether it’s derivatives, the intertwined financialsystem. Where are we?
The ability to use an anonymous single currency to power a decentralized, permissionless distributed ledger operating over the public internet where miners compete to solve the math problems that enable the processing of transactions is a remarkable innovation. He leveraged existing infrastructure and built on top of it. In concept.
I’d been ranked i i back in the seventies, if you can do the math. 00:31:28 [Speaker Changed] But you had no idea they were running a hundred to one leverage? But anyway, you know, that, you know, darn near blew up the global financialsystem right outta 00:31:40 [Speaker Changed] The blue an an early warning shot, right?
We organize all of the trending information in your field so you don't have to. Join 39,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content