We're falling behind at a rapid rate that's actually basically compounding to us losing

or being a losing path against other nations or regions that are making really solid progress.

Welcome to Bankless, where we explore the frontier of internet money and internet finance.

This is how to get started, how to get better, how to front-run the opportunity.

This is Ryan Sean Adams. I'm here with David Hoffman and we're here to help you become

more bankless. On today's episode we have a post-mortem of Facebook's highly ambitious project.

All the way back from 2019, Facebook at that time trying to build a stable coin,

but the US government stopped it from white paper to being called in front of Congress in three

weeks. What really happened and what can we learn and apply about crypto? There's two

David's on the show today. We are guiding this conversation today by David Marcus and of course

my co-host David Hoffman, but David Marcus is one of the architects of Facebook's

stable coin project. A few things we get into today. Number one, Facebook's Lieber project.

Why did it fail? And who tanked it? The US government? The banking lobby? And why can't the west

seem to innovate on its banking system? Number two, we talk about super apps and why

David doesn't think they work, including Musk's most recent attempt with Twitter, aka X.

Lastly, we talk about why our guests think the money layer of the internet will be built on crypto.

But not just crypto. That will be built more specifically on Bitcoin. Yep, and this is where

the episode takes a turn into debate territory. No, we didn't get into the full debate with David

on Ethereum versus Bitcoin. You'll have to tune into the debrief for that. David, why was this

episode significant to you? This episode threads a number of different subjects that I think are

going to be increasingly relevant for the crypto industry. One is payments, of course. We know

it payments, but also social messengers. Why do messengers and payments go together? And then what

...