How Do We Build a Better Crypto Marketplace? | Omid Malekan (Part 2)

The James Altucher Show

James Altucher

Education, Business

4.6 • 2.7K Ratings

🗓️ 29 November 2022

⏱️ 41 minutes

🔗️ Recording | iTunes | RSS

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Summary

How do we get better crypto exchanges and custodians, both in terms of being more responsible and more regulated?Coming out of the FTX debacle, the media spotlight is highlighting the cracks and flaws in the current system. While the crypto industry is doubling down on ways to make key management and self-custody a lot easier with ideas like social backups, a revamp of the exchange industry is needed in order for major sources of wealth to stake their claims in the marketplace.Enjoy the conclusion of James' conversation with the "explainer-in-chief of crypto" Omid Malekan!------------Visit Notepd.com to read our idea lists & sign up to create your own!My new book Skip the Line is out! Make sure you get a copy wherever books are sold!Join the You Should Run for President 2.0 Facebook Group, where we discuss why you should run for President.I write about all my podcasts! Check out the full post and learn what I learned at jamesaltucher.com/podcast.------------Thank you so much for listening! If you like this episode, please rate, review, and subscribe to "The James Altucher Show" wherever you get your podcasts: Apple PodcastsStitcheriHeart RadioSpotifyFollow me on Social Media:YouTubeTwitterFacebook ------------What do YOU think of the show? Head to JamesAltucherShow.com/listeners and fill out a short survey that will help us better tailor the podcast to our audience!Are you interested in getting direct answers from James about your question on a podcast? Go to JamesAltucherShow.com/AskAltucher and send in your questions to be answered on the air!------------Visit Notepd.com to read our idea lists & sign up to create your own!My new book, Skip the Line, is out! Make sure you get a copy wherever books are sold!Join the You Should Run for President 2.0 Facebook Group, where we discuss why you should run for President.I write about all my podcasts! Check out the full post and learn what I learned at jamesaltuchershow.com------------Thank you so much for listening! If you like this episode, please rate, review, and subscribe to "The James Altucher Show" wherever you get your podcasts: Apple PodcastsiHeart RadioSpotifyFollow me on social media:YouTubeTwitterFacebookLinkedIn See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Transcript

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0:00.0	This isn't your average business podcast and he's not your average host.
0:06.7	This is the James Altiger show.
0:18.4	Remember like 20 years ago David Bowie took his catalog and he borrowed, I think it was
0:25.0	about $700 million and it was going to be the interest rate that the lenders would
0:30.6	get would be based on how well those albums did over the next 10-20 years.
0:37.2	And people who invested in those, they're now across the industry called Bowie bonds
0:40.9	and his was the first one.
0:43.0	They made a significant amount of money like more than, definitely more than interest rate
0:46.8	returns were returning then and probably more than stock market returns.
0:50.5	But people like you and me couldn't get Bowie bonds.
0:53.8	Like you had to call a bond broker who knew about those bonds, who could then get access
0:58.2	to them and there was no market to trade them.
1:01.0	Like you want to be able to buy them after they initially sold and that's almost like
1:05.9	a relic.
1:06.9	Like that's an antique way of thinking.
1:08.7	Like technology's already here where if someone like David Bowie wanted to do this now
1:12.0	he could tokenize in the same way and now anybody could buy them at any point and then it
1:17.6	would be a market to trade them.
1:19.0	Maybe you and a swap or sushi swap or pancake swap or whatever. But the one thing I always
1:24.2	think is and this is again like the early days of not only the internet but anything it's
1:29.3	hard to do this.
1:30.8	Like the average person is not going to suddenly say, oh I'm going to sell Exxon on the
	...

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