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All right, folks, welcome to Investing for Beginners podcast. Today we're going to do something special.

Today we're going to talk to our friend Kyle from Milk Road about some crypto stuff.

This is not something we've talked a whole lot about, but Kyle is an expert and he's here to help educate us and you.

So Kyle, thank you very much for joining us today. We really appreciate you taking time out of your day to come help educate us about this very interesting topic.

Yeah, thanks. I'm happy to be here. Happy to explore the conversation of crypto. There's a lot happening. So I think it's an important one. But just happy to be here. Thanks, guys. You're welcome. All right. Let's start off with an easy one. Let's talk a little bit about crypto, maybe not going to the tech, but maybe talk

a little bit about what it is and what you're seeing out there. Yeah, sure. So I think the term

crypto might be a little bit confusing to people. The technology is called a blockchain.

Crypto is like a token that exists on the blockchain. I guess the simplest way to explain what blockchain is for those that don't even know what that is,

is most of the world works in a database.

Okay?

So if you think of anything online, a bank, Facebook, they all have a database that they host at their own facility,

wherever that is in the U.S. or whatever country you're in. And all the data, everything you do, your likes, your tweets, your money, they all exist in that one database that they control. What a blockchain is, is just a series of a bunch of different databases that nobody owns and nobody controls, but anyone can plug into. And so what that means is any of the data in there, any of the money that exists in there, the value, the person that's using it gets to own it. Okay, so Facebook owns my data, my value. The bank owns my money. It says I own the money, but actually the bank owns it they can shut it down and block it any time. What a blockchain is, it's just a bunch of these databases that are all around the world, that everyone who use it interacts it can own and custody the things that are in it. So that's the easiest way to kind of understand what a bank is. Now, why is that valuable? Why is that like a useful thing for us to put value on top of, whether it be a crypto asset or a dollar or a stock eventually is going to go

on a blockchain. There's going to be a bunch of things that are already going on blockchain

today. Why does that matter? And I think the real reason for it is when a bank, for example,

custody is your money and they own your money and it's in their server. It's very costly and very

timely to move value across the world. So for example, I live in Canada. I'm going to Europe

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