you already help title the world, which you're going to do is tokenize it. You're going to take

that title, which is not negotiable internationally and make it negotiably global, because what we've

got underneath our earth is only valuable in the measure in which it reaches industrialized countries.

Very simple. So what you want to do is not say that you're going to title, because then people will

get scared and say, but what do I know about title? It's already titled, what you've got to do is tokenize.

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

Ryan Sean Adams. I'm here with David Hoffman, and we're here to help you become more bankless.

The first thing you need to understand about crypto is what is money. The second thing you need to

understand about crypto is what is property. That is the topic today. We have an episode with

Hernando de Soto. He's an economist who helped the world, the entire world understand the incredible

wealth creation power of property rights. And now he wants to recruit crypto to help tokenize the

world. Those are his words. A few takeaways today. Not ours in this one. A few things we talk about

today. Number one, what are property rights? How do they unlock wealth? Why do countries with

strong property rights systems seem to win while countries without them falter? Number two,

what is capitalism? How is it related to property rights? Number three, what does property rights

have to do with crypto? Maybe everything? Maybe nothing? No. Number three, what does property rights

have to do with this crypto thing we're doing? Number four, why Hernando thinks there's a new global

race between China and the US to title the world and how crypto might play a part. And number five,

Hernando gives his advice for the crypto industry and issues a call. Help tokenize the world.

David, this was an incredible episode. Why was it significant to you?

Every once in a while on the bankless program, we come into these episodes that are a huge synthesis

of a lot of knowledge that we've explored with different episodes. We did the what is money

...