The Lawfare Podcast: Why You Should Buy Back Your Bitcoin
The Lawfare Podcast
The Lawfare Institute
4.7 • 6.4K Ratings
🗓️ 15 January 2016
⏱️ 117 minutes
🧾️ Download transcript
Summary
This week, Brookings hosted a discussion on Bitcoin and the technology that undergirds the currency, specifically focusing on the promise of the distributed-ledger. The panel featured David Wessel, Michael Barr, Brad Peterson, Barry Silbert, and Margaret Liu, on how the blockchain could revolutionize payment flows and reduce the cost of financial transactions, all while securing information and enhancing privacy. They also tackle some of the most pressing policy questions facing the technology---from consumer protection to terrorists' finances---and how those tensions can be addressed.
It's a relatively positive take on Bitcoin and its future potential and an argument for why you should buy back your Bitcoin if you sold it after last week's show featuring Lawfare's Bitcoin skeptic, Nick Weaver.
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Transcript
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| 0:00.0 | The following podcast contains advertising. |
| 0:04.5 | To access an ad-free version of the LawFair podcast, become a material supporter of LawFair |
| 0:11.2 | at patreon.com slash lawfair. |
| 0:14.7 | That's patreon.com slash lawfair. |
| 0:18.3 | Also, check out LawFair's other podcast offerings, rational security, chatter, lawfair |
| 0:25.6 | no bull and the aftermath. |
| 0:30.4 | One upside is simply reducing the costs and increasing the efficiency and speed of our |
| 0:38.0 | system for sending money. |
| 0:40.4 | We have a very outdated system in the United States and to some extent globally for sending |
| 0:47.0 | money. |
| 0:48.0 | We spend lots of money, sending money, money that we could spend doing other productive |
| 0:53.3 | things in our economy. |
| 0:55.1 | So one, I think, really quite in a sense, low-hanging fruit for the changes that are in this |
| 1:00.6 | technology is to ring some of the inefficiency out of the system and to be able to send money |
| 1:06.6 | more cheaply and more quickly. |
| 1:09.9 | That can also have implications for social policy. |
| 1:13.4 | So if we can, for example, send money more quickly and more cheaply, we can reduce |
| 1:19.2 | the cost of sending remittances overseas. |
| 1:23.0 | So if you're a worker in the United States and you want to send money home to your family, |
| 1:27.4 | it's still extremely expensive to do that in the payment system we have in this world. |
| 1:31.9 | And the technology that's available with distributed ledgers and blockchains can dramatically |
| 1:38.0 | reduce the cost of doing that and security of doing that. |
... |
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