Silverstein: And why do you think that the digitization of money is the future?
Sokolin: The digitization of everything is the future. This has happened already with media, right — with music. And we saw the effect of digitization is essentially your revenues go down 50% in the industry and then the remainder is all digital.And the same thing happened with retail, right?. Amazon you can say is the digital version of all retail. And they own about half the market. And now it's happening to finance and it’s happening to equities, and to capital markets, and in robo advice, and neobanks and insuretech. And Bitcoin and the digitization of money is just one aspect of that. It’s sort of inevitable.
Great concise argument here. Cryptocurrency is just another step towards the "digitization" of everything. That is, making goods and services amenable to computerization.
BTC and it's peers are not a simple fad.
This is probably a very simple introduction to many of the people here, but I do think it is worth it to reinstate this fairly revolutionary fact. In particular, when moments of doubt are repeatedly attempted to be introduced by the status quo old-guard, that want money 1.0 to stick around for a little bit longer than it rightfully should :D
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