Published on: December 29th, 2020 • Duration: 26 minutes
Kain Warwick, founder of Synthetix, joins Alex Saunders, founder & CEO of Nuggets News, to discuss Ethereum as new banking infrastructure, Central Bank Digital Currencies, and the importance of permissionless innovation. Warwick explains that there is an enormous amount of innovation happening on top of Ethereum, believing that it is a 10x improvement over legacy banking systems like Swift. Warwick describes how the blank slate innovation enabled by Ethereum allows for protocols with much less friction, such as trustless bank to bank transfers, never before possible on legacy systems to come into being, and he shares why he thinks there will be a hybridization of legacy infrastructure with crypto systems. Filmed on July 23, 2020. Key Learnings: Ethereum enables new models for banking and finance systems. It provides 10x improvements over legacy banking payment rails. Legacy financial infrastructure will likely become a crypto hybrid model, and those legacy systems that embrace the hybrid model will likely have a better shot a long term survival as crypto eats traditional finance.