Cryptocurrency: The Future of Finance and Money

(machine humming) – [Narrator] We use money every day, but we rarely appreciate
its power and its flaws. It’s a tool that has been at
the center of human progress, and as we build bigger and
tackle complex problems, we’re going to need the
best tools available. – We have a global economy. We’re going to need a
global digital currency. – Cryptocurrency is gonna be a great democratizing force for the world, because it’s gonna level the playing field and allow anybody with a cell phone to access financial services. – This is going to transform how we think about a real global economy. I think in order to
understand its importance, we first have to define
what currency means. What currency does is
it actually allows us to agree upon the value of something. It’s almost like a communication tool. – There are different ways
of coordinating human beings. One way that you can
do that is with money. You can incentivize people to try to work on the same thing at the same time. – We started off building simple systems like a bridge crossing a river to very amazing things like rocket ships. We went from interacting
with our neighbors to now transacting with
each other around the world, and we wanna make sure that people can move money freely, and our current financial system just doesn’t enable that. (chime) – So the current systems
are very centralized, We have big banks and big governments. There’s a lot of middlemen who make things incredibly inefficient. – When you talk about the problems with the existing financial system, you can go to a situation like Venezuela, where money is being printed and folks’ savings are
basically being destroyed. (shouting) – The value of their wealth
has been completely eroded. I think a lot of us in the United States sorta take this idea for granted, that if someone gives us money it’ll be in our bank account and it’s not gonna disappear or be taken away from us, and that’s really a luxury that many people in the
world don’t have at all. There are about 1.8 billion people in the world today who have a cell phone but don’t have access to
any financial services. What’s really powerful
about cryptocurrency is that it lets anybody, if you just have a smart
phone and internet connection, participate in the global economy. – What Cryptocurrency does is takes the stability that we have then gives it to the rest of the world. – If I have a dollar bill, I can hand that directly to somebody else. There was no bank in the middle there. With digital currency and block chain, it’s actually more similar
to cash, yet again, where I can send something
directly to somebody else and I don’t necessarily
have to go through middlemen like a bank or a credit card company. – We can go back to how
we normally transacted which is directly with each other, without all these giant
central parties in between. – When computer scientists talk about the concept called decentralization, what they mean is to avoid this idea of a single point of failure. – A single point of failure like we have with institutions. – If you have a single bank, and that bank has all your money, and then that bank fails, well, it runs out of money. Whereas, if you have lots of different individual nodes, hard drives, and phones, and so on, that have some money, they’re probably not all
gonna fail at the same time. – So you no longer need the middlemen to keep track of internal ledger. All these computers are writing everything down for you. – That network effect
makes it unbreakable. – The technology makes
us richer and wealthier, because you need less time, or less money, or less effort to get something done. – Right now, when people think of crypto, I think they think of investment. – There’s a lot of speculation. There’s a lotta talk of prices and how much money has been raised. But, it’s really important
to see past that. – It’ll shift to people
actually using cryptocurrency to buy goods and services
and transact in the economy. – That’s not just send
money back and forth. That means employ each
other or fund each other. – A more global economy is important, because there is talent everywhere, but opportunity is not evenly distributed. – In a world where this
technology is fully adapted, it won’t matter what
country you’re born in. All that will matter is that you have a mobile phone
and internet connection and you have skills and knowledge to learn and you can contribute
to the global economy. You can benefit from the world, and the world can benefit from you. – Think about what kind
of economy we could have if we had a global currency that we were all responsible for and all invested in. It opens up opportunity for everybody. – Just being able to trust that if I do good work in the world and someone compensates me for it, I will be able to keep that wealth, that’s such a powerful idea that it actually encourages people to try to do more good
things in the world. – If you’ve got lots of people who are invested in each
other’s success literally, they’re invested in each other’s success at a broader level. – I think cryptocurrencies are gonna be as impactful to humanity
as the internet has been. – Digital currency and
block chain can bind us in ways that we wouldn’t be bound before.

100 thoughts on “Cryptocurrency: The Future of Finance and Money

  1. acutally you are a middleman, it's just like the bank, but i do truly hope you can succeed, because when you do, we have a mass adoption

  2. CoinBase and the US government are close friends, they are even more like relatives. They just do not want to disclose it. Not just yet )))

  3. In since late 2012.
    Seen countless of videos and read countless articles
    This is how crypto should be represented.
    Great to see how good of a job you can do on that.
    Love it a lot, so stoked to see whats coming next.
    Keep going

  4. Money is gold and silver.
    My cryptocurrency portfolio includes modest amounts of Bitcoin, Litecoin, OmiseGo, Digibyte, Vertcoin, SALT, Vertisaeum, ADX, Siacoin, EBTC, Vechain and Populous.
    I have probably spent thousands of hours on research, you are welcome 🙂

    Ps I would look at IOTA at some stage also.

  5. haha XRP is ripple and ripple is a scam, SEC is soon going to beat the shit outa its managements and illiterate peoples you are not going to make any money on cryptos. lol

  6. Cryptocurrency without government endorsement is a SCAM… keep away from them… Just wait and see how far they can go…

  7. The amount of ppl comment on coinbase videos and tweets about xrp is ridiculous, you guys look desperate and stupid spamming every video and tweet, don't you think they know by now? if they want to do it means they're working on it, if not then all your comments are useless, I myself own xrp and you guys make the xrp community laughable.

  8. Yes banks have to much power and are run by criminals. Power needs taking away from them. The internet has cut out the middleman in a lot of sectors ,so now it's the banksters turn.

  9. It's kinda scary y'all want xrp . You guys understand that goes everything against why Bitcoin was made in the first place? I'm wondering where this brainwashing is coming from

  10. Hey Coinbase, we know you are in the pocket of government and that you are now mandating 72 hour holds on withdrawals from your exchange. You are the very reason why people don’t trust cryptos. Regulation, manipulation, and playing god with our funds; do you know what that makes you?….a bank.

  11. This entire video is basically TALKING about what electroneum (ETN) is already DOING. Seriously, replace the logos and have Richard Ells do a voiceover. Or just bring in ETN already.

  12. Btc is a scam……but ill buy your coins for $100 ……. any taker…….please :).

    on the real. BTC to the moon in 2025.

  13. Great Video! very insightful and informative! if only Coinbase would allow signups by people from African countries like Uganda etc, so that they too can get the opportunity to get into the space, for better adoption.. Honest opinion!

  14. Love this .. ultimately it promotes cryptocurrency adoption and helps us get away from centralized 🏦 🏦

    Great job guys !

  15. Listen up all you XRP guys! No one wants your overpriced, irrelevant and centralized nonsense. So stop asking coinbase to list XRP !

  16. cryptocurrency has no future because coinbase fraudsters exist. they scare buyers. they do not give development. only take money from customers

  17. coinbase has been always targeted on making money, perhaps it is not so bad in modern world, but they practice illegal moves and that is their problem!

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  19. The crypto is a future of the world, but i couldn't see coinbase involve on this system because theit fee's quite similar with banks.

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  21. In this growing world its important to know about what coins we invest in and its very important that our safety and security is always there so investing in @telecoin is the smarter way of investment. @Telecoin transactions are anonymous since all the transactions can be seen but the owners Telecoin address is not revealed.

  22. What if governments limit one's access to the Internet? Or what if your national grid goes down? Or what if phone companies with the side of governments or large corporations add hidden software(?) to your phone to track or Limit what you can do?

  23. Dear coinbase, you're saying everybody can participate with a smartphone and internet connection.
    Well, you have the age limit restrictions.

  24. Hmm.. something just doesn't feel right about this whole Crypto-currency scheme… Unbreakable? Possibly. An anonymous creator👁️? Yes. A well managed inside job👌? Haha, very likely. 🤫

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