What really resonates is when Marcos says he believes in living on-chain, especially from the financial aspect.
Over the past three years as an economics student at LSE, I’ve learned a huge amount of macroeconomics explaining how banks work. Even though it’s my least favourite subject, I can still talk about their mechanisms for days from muscle memory.
The biggest problem is: banks have deviated far too much and for far too long from their original purpose.
(This is an unpopular opinion, and it’s natural to disagree if you benefit/wish to benefit from the current system, such as an IBD intern-wannabe at LSE.)
Banks were created so people could lend and borrow, reducing opportunity costs.
Now, instead of efficiently matching those needs, banks force people to deposit more to access “institutional returns”, what they made up and then monopolised.
Worse, because banks have been so dominant for so long, they’ve convinced people that money is meant to be saved in banks - the “it’s always been this way” saying.
And then? Banks earn 5% returns from simple investments (S&P 500, gold, bonds, etc.) using your money and give back 3% as a “reward for saving”.
Please tell me this is wrong.
That’s why we need blockchain, so your money can truly be yours.
