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Notes from America with Kai Wright

The Promise and Failure of Cryptocurrency

Notes from America with Kai Wright

WNYC Studios

News Commentary, Politics, History, News

4.41.5K Ratings

🗓️ 11 July 2022

⏱️ 50 minutes

🧾️ Download transcript

Summary

Cryptocurrency promised to democratize the financial world by giving people equal access to banking tools. It has potential, but also a long way to go.

Guest host and senior digital producer Kousha Navidar takes calls and speaks with fintech policy expert Scott Astrada about the value and pitfalls of cryptocurrencies including Bitcoin, Ether and Dogecoin. Then, Dr. Kortney Ziegler from Stanford’s Center on Philanthropy and Civil Society speaks about empowering communities the traditional banking system leaves behind.

Companion listening for this episode:

The End of Institutions: Hollywood Edition (4/4/2022)

To many, cryptocurrency’s value is its promise to revolutionize one of the oldest institutions: finance. Hollywood is another institution that is undergoing its own evolution. The hope is that this evolution leads towards something more inclusive. But is that the case? Which roles does Hollywood encourage its members to play, on screen and off?

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We want to hear from you! Connect with us on Twitter @WNYC using the hashtag #USofAnxiety or email us at [email protected].

Transcript

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0:00.0

When do you think of cryptocurrency?

0:03.0

What do you think of?

0:04.0

I think of a new opportunity with a money system.

0:07.0

Things change along with the technological age

0:10.0

and sometimes we have to move with new technology

0:12.0

and new ways of doing things.

0:13.0

Ooh, well, I...

0:16.0

cryptocurrency to be feels a little scammy.

0:19.0

I don't know a lot about it.

0:22.0

I don't have any money to waste,

0:24.0

but I am interested in understanding

0:26.0

what it can do for me personally.

0:28.0

I feel like it is very gendered, actually,

0:31.0

like the men in my life talk about it

0:33.0

and the women do not.

0:34.0

There also feels like a little bit of disingenuousness

0:37.0

when it comes to some of the celebrities endorsing it

0:40.0

and trying to create a sense of urgency around it.

0:45.0

A lot of people are uncomfortable with that,

0:47.0

but I believe there might be some opportunities there

0:49.0

if we will let ourselves be open to it.

0:51.0

Welcome to the show.

...

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