Decentralized Globalization: Cryptocurrencies are Superpowers for Everyone

Decentralized Globalization ————- [Conference organizer introduction to Andreas Antonpoulos in Spanish] (Start at 1:19) First of all, allow me to thank you all for being here today and for such a wonderful turnout. I would also like to thank Jorge Farias and for organizing this event and for inviting me, It is my pleasure and a great opportunity for me to be here. Last year, I published my book "Internet of Money" in Spanish, called "Internet del Dinero". And Jorge was very nice to have some copies for sale here. Let me say in advance that if you want me to sign copies of the books, I will be happy to do so once this talk is done I will be available until about 4 pm. I'd like to meet and talk to as many of you as possible. Well, you might wonder, why did you publish a book in Spanish? The biggest focus for me over the past two years has been the internationalization of my message. The unfortunate truth is that a lot of information is about Bitcoin, cryptocurrencies, and blockchains. It is generally in English.

This is a major barrier to understanding and use in different parts of the world. One of the biggest obstacles hindering the spread and use of this technology is language. Technical knowledge, use of smartphones, the Internet, etc. Available to many people who do not have a bank account. But speaking the English language fluently and understanding the technical principles of English is very difficult. So one of the most important things in my journey is trying to provide as much content and work as I do In the largest possible number of languages. I was lucky enough to have many supporters Who volunteer their time to translate my work into different languages. The good news is that of the nearly 300 videos I have posted so far, about 75 have been translated into Spanish, which is the largest percentage of all languages. All this thanks to the work of volunteers. All of my books are available in Spanish. And that will continue with my next book: Mastering Ethereum.

Most importantly, these books are available under open source licenses. Which means, people can download it in Spanish for free, share it and rearrange it And use it to build training courses, tutorials, and workshops. Education is the primary effort in our field today. And if we want to realize the potential of this technology in delivering financial freedom and freedom of choice to billions of people around the world, We should focus on technology, not price. Focusing on education, not on stock market speculation, Focus on investing in learning skills, not in acquiring property. We need to encourage cryptocurrency as a way to earn your income, not as something to buy. We need to make it accessible to as many people as possible, The beginning is by breaking down language barriers. That is why I feel sorry for not being able to give this conversation in Spanish. I would have liked it, and I'm really trying to learn Spanish as quickly as possible.

Some of us are more skilled and able to learn new languages. I watched very humbly when Vitalik Buterin decided to learn the Chinese language, Within 18 months, he performed in fluent Chinese on Chinese TV. Not all of us can be "Vitalik". I am here today because I believe Panama is one of the most important locations In the development of cryptocurrency throughout Central and South America. Because of the multitude of cultures and nationalities, and because it is located at a geographical crossroads. But also for being traditionally and historically at the forefront of financial service providers. Panama provides financial services to many people from all over the region who do not have access to these services. South America is where we really need Bitcoin, cryptocurrencies, and open-source blockchain technology. You don't need it in Los Angeles, Chicago, or New York. You can use a Visa card, most people have a bank account. In fact, people who do not have a bank account in the United States They are mostly Spanish-speaking immigrants, who don't even have the documents to open a bank account, they need Bitcoin.

People in South America need cryptocurrencies because of the historical level of corruption and economic difficulty and And financial and economic crises. And that happens again and again across the region All of these are colonial things of course, centuries of colonialism. Today, Western democracies are wonderful, liberal, so they cannot practice colonialism the way they used to, On top of a spear. Not often, at least. Colonialism is now more courteous, It comes disguised as the nice little deals we call "competitive trade," globalization, and open borders. Globalization, as it is understood and practiced, is nothing but old-fashioned colonialism. Now it is not being enforced with outright force, but through embargoes and financial controls. They are applied in more subtle forms of oppression, meaning if you do not participate in those games, You will be cut from the US dollar and cut off from the SWIFT payments network, the International Monetary Fund, and international trade. Globalization in its current form is not something that you and I truly share.

It is something that multinational corporations and powerful nations use to position themselves outside the framework of the law. To arbitrate between judicial authorities, to shop and search for the most suitable, corrupt, and low-tax environments. Where they can practice disguised financial colonialism in the form of globalization. Globalization has a negative connotation among most people. For the average person, it comes in the form of corporations above the law, exploitation, and ironically: tariffs and fees. Cryptocurrencies are changing the nature of globalization as something central and available only to the most powerful, distant and indifferent companies. And put it in the hands of individuals directly.

Not all of us are right now, just a few of us are lucky enough to have it Knowledge, capital and ways to get involved. But day after day, more and more people are able to use cryptocurrencies to achieve a decentralized form of globalization, This form that allows the average person to shop around and search for legal systems, And to weigh the currencies, and choose the law that serves his interest. Until now, moving physically has been the only way individuals have been able to benefit from globalization. Someone leaves his country, taking his family with him across the border to another country where they are not welcome, Instead, they are treated as second-class citizens and are subject to discrimination. The only reason for someone doing such an act is despair and trying to survive.

Globalization means refugees. But what if you could leave the financial system of your currency without leaving your country? What if you could become an international participant in trade without even leaving your country? What if you could become a one-man multinational company without leaving your country? What if you became a multinational one-man company? I know this may sound ridiculous. But one of the reasons governments often oppose cryptocurrencies is due The power that these currencies give to individuals, the power to act like multinational corporations. When governments say: "If the use of cryptocurrencies were allowed for everyone, nobody would pay taxes", You should ask them: “What about all those multinational companies that have not paid their taxes? They hadn't worried about them before … It only became a problem after everyone could do it? "But if individuals could move their money freely, they would not be subject to our control." Rich people and multinational corporations already have the ability to move their money freely. You are not the ones mentioned in the Panama Papers, it was other people.

You may have noticed that there are not many Americans in the Panama Papers. That is because the United States is one of the largest tax havens in the world. Americans do not have to go to Panama in search of outside financial services, they can go to Nevada. As long as they are wealthy enough to afford the lawyers and accountants costs to set up their companies To take advantage of globalization on the homeland. Cryptocurrencies are frightening to many governments because they arm the individual with the same capabilities, And this is one of the very interesting effects of technology. The possibility of gaining superpowers through the use of technology. We do not fully appreciate the historical impact of technology from this perspective. As I speak now, a number of people in the audience are using their smartphones to photograph me.

The idea of ​​someone in their pocket carrying a TV studio with world-class broadcast capacity was a superpower fifty years ago. You'd be making a movie for a superhero whose idea is that superpower The idea of ​​pulling a small device out of your pocket and making a video call is something you only saw in the science fiction movies Star Trek fifty years ago. The ability of an individual to send money around the world in seconds, convert between currencies, As if he's a stockbroker in New York, it's now possible in a Guatemalan village Using a solar panel and an Android phone, $ 20. Rest assured, that's a super powerful force. The person in the village who has this paranormal ability is a superhero. He can fight for justice Just like Superman and Spider-Man To all the people around him, As Jorge said in his speech before me, There are places in the world where people cannot obtain clean water.

But they have a cell phone or smart phone. With the decline in the price of smartphones, these capabilities are gradually becoming more accessible to more people. We are on the cusp of something very important, We have a communications device at the same time that cryptocurrencies convert money into a communications protocol, This makes every communication device a banking system Not just a bank account, but a bank. When you carry a cryptocurrency smartphone in your pocket, you will not have a Swiss bank account in your pocket. As "Obama" famously said, You become a Swiss banker! This superpower would change the world for many people. Who would oppose this change? Most of them are already bankers, They don't see the need for this technology.

“Who needs Bitcoin?” Someone with a Swiss bank account and three financial brokerage accounts asks. A market for precious metals, no restrictions on currencies, and the most stable currencies in the world are within his reach. Not you, sir, definitely not you. But if you thought no one needed a cryptocurrency, it's only because you haven't seen anything outside of your little bubble. When I first started traveling around the world and talking about this technology, It struck me that in the developed western countries I had to spend a lot of time In explaining the "why" of cryptocurrencies are important and what they are needed for When I first traveled to Argentina, not a single person asked me "why" They asked "how" how can we do this now? "Why"?! "Why" is an axiom! We are in the midst of a cash crisis for the fifth time.

Thirty years ago, our government was throwing people off planes Because they have a different political opinion. "Why" is an axiom, What matters is "how" This geographical gap is extremely important to understanding the impact of cryptocurrencies around the world. When people say "We don't need cryptocurrencies", The question you should ask them is who "we" are? Any "we" that do not need financial services? "We" that already have a financial system. 2.5 billion people do not have financial services, This is according to statistics from a World Bank study that counts only Heads of households of working age without access to any form of banking services. This does not include their families and children, This greatly reduces the number of people who have it The "minimum" of banking services, Meaning a bank account at a high cost, which is subject to supervision and control, and in only one currency Every day it requires them to overcome massive obstacles of corruption, bribery and oppression.

In order to trade in a currency that the government inflates into its value as waste. They are not "beneficiaries of banking services", Rather, people with minimal banking services. And if you start with the statistics from this perspective, you will realize that many people are truly benefiting from financial services The way I or the fortunate few in Western countries benefit, It is probably only 1.5 billion people. We have 6 billion people left without these services. Early in the Bitcoin era, we'd say "To provide financial services to everyone who does not have a bank account" But now we are starting to realize that we can aspire to a greater and higher goal, Which is to disengage us all from the banks. We do not need to "provide banking services" Rather, we must remove the need for middlemen. Ending the need for guardianship, Eliminate the need for the controllers of our trade, The removal of control over our financial future and our ability to manage that future.

We need to get rid of those archaic, feudal and national financial systems of money That lasted for several centuries. And with that geographic gap, there is also a generational gap. When you say to people over a certain age, "Magic money on the Internet that you can send around the world and controlled by an algorithm." They would be terrified of this idea They ask you, "How does it have value?" "Who controls it?" "What would happen to the world if you were not under someone's control?" They understand, or at least believe, they are generally familiar with how their national financial system works. But most people are ignorant. If people understand how their financial systems work, there is likely to be a revolution. For many [older] people, this technology is very strange. The idea that it is not controlled by anyone, the possibility of laws without rulers is something they cannot imagine. The possibility of regimes without leaders, but at the same time they behave according to rules and in a manner quite predictable. A financial system that makes me able to tell you about the rate of currency [issuance] thirty years from now, And very precisely to the nearest thousandth.

But I can't tell you the USD interest rate next Friday; That will determine 12 people for whom I have not voted. The current system has many rulers, but it seems without any laws. We replace that with something that has no rulers, but which has very strict laws and disciplines subject to the laws of mathematics. People say, “Cryptocurrencies are not regulated by law!” Cryptocurrencies are subject to laws. Algorithms regulate it with high precision. Regulated by fixed laws of mathematics. Bitcoin organizes a decentralized consensus and consensus process that takes place every ten minutes. It is a completely foreseeable and deterministic process. Yes, sometimes strange things happen; Divisions, discussions of how to expand, things like that. But in the midst of it all, But has the average time of leveling blocks changed? No, it still happens every ten minutes.

Have we issued more than 21 million Bitcoins? Both. Have officials changed? There were no officials, and still no officials. Despite all the shouting and shouting, after nine years, Every ten minutes [on average], like a heartbeat, a new mass appears, quite predictably. A similar process occurs across [hundreds of] cryptocurrencies. There has never been a financial network She works twenty-four hours a day, seven days a week, 365 days a year, Without interruption for nine consecutive years. This has never happened before. We have never seen a financial system available to everyone in the world via a simple personal device It enables individuals to conduct international trade at the level of banks and multinational companies.

There has never been such a technology. When people say "I'm afraid. I don't know what will happen next. I don't understand this." In general, all that this shows, is their age. I am afraid too, as I get older it becomes difficult for me to absorb change and find it more difficult to keep up with things. I read constantly only to keep up with people who are younger than me and have minds that are more resilient and more receptive to change. But the real gap, the real generation gap, Is that every child born today would never live in a world where cryptocurrencies did not exist. They would never live in a pre-internet world, before Bitcoin, They would never live in a world before individual freedom to trade. A person growing up under such regimes does not realize that this was not always the case. They do not realize that the situation could have taken another form. And if you tell one of these guys that money is now "an Internet protocol that allows you to freely send the value anywhere in the world", They will look at you in astonishment, saying, "Yes, of course it is.

What do you mean?" In my days, money was printed on cotton fabrics and on linen linens in green ink, And we were keeping it in our pockets. And if we wanted to make a deal, we had to go meet the other person and hand him that piece of cloth full of germs And it had no real value. But the right to issue it was the preserve of the government, issuing it as it wanted, and it told us that it had value.

Then, one day, we received pieces of plastic that allowed us to do the same transactions, But it has only become subject to greater control and total oversight at all times. Grandpa, you are crazy! Money cannot work this way, it is not reasonable! I can only imagine, twenty years from now, an undergraduate assignment to economics By writing a research paper on the history of central banks. These students will struggle to understand why managing finances has been left for the entire nation In the hands of 12 unelected people, they meet every Friday and then come out with an announcement What will be the interest rate for the economy.

It would be amazing, Like looking back on seeing people wearing wigs, They ride horses to travel, And they spend a week traveling between the countries of the country, That is if they did not die of cholera on their travels. Imagine this child at the age of ten, he is not allowed to open a bank account until the age of sixteen, Until the age of sixteen, he could not buy anything online with a credit card And he should pester his mum or dad to top up their iTunes or Amazon account. Or as you once watched a creative child, He waited until his mother fell asleep Then he put her finger on his thumbprint to unlock her phone and buy all the Christmas gifts from Amazon. And at this point, if you are a parent, you cannot decide whether to feel angry or overwhelmed For your child's great versatility. But imagine this 10-year-old boy who uses cryptocurrencies and exchanges them with his friends, and they are doing it now, by the way, And if you are a parent with children this age, you probably won't even know they are doing this.

But they do exchange it. And if I forbid them from that, then they will do it twice. They will grow up in this environment. They will have access to their own money that you won't know about. They trade with their friends and buy things for themselves. By the time they turn two or thirteen, they will have financial independence, Once they know how to use this technology. Which they will learn to use twenty times faster than you, and then perhaps explain it to you if they are satisfied with you. Then imagine the scenario that will happen when they go to a bank at the age of sixteen and sit with a banker. This banker tells them: "You can only withdraw your money on Mondays to Thursdays, from nine in the morning until five in the evening." “For the privilege of possessing your money, we will charge you five dollars a month If you do not maintain enough balance, we will give you 0.01% interest on this balance.

"You will not be able to exchange any other currencies." You can only purchase from merchants we agree with. Unless there is a monetary embargo or ethical campaign against your preferred product or service. " "And beware that you dare to spend a dollar that is not in your account, because the interest rate then will be 25%." At random times, we may decide to block your transactions or even close your account Because one of your transactions had the word Bitcoin in it.

And we are old and old people who are terrified of this thing that we cannot understand what the hell is! This kid will leave the bank thinking "This is crazy! I've never wanted to open a bank account!" "I can do all their jobs faster, cheaper, safer and in complete control of my money." But this is not how the future will be. It wouldn't work that way. Simply because there will be no bank for this child to enter. The primary function of banks, which is to store your assets on your behalf, will not be there two decades from now. These services will not last long, as they are unnecessary and expensive. Most importantly, it is oppressive to those who possess it, and it denies access to the vast majority of the world's population. Ultimately, these and many others will simply choose to do without it. Will there be people with bank accounts? Certainly Does anyone in the audience have a horse? Have you ever ridden a horse? One or two people have horses.

Cool, but it's not your primary transportation, it's just a hobby. It may be your primary mode of transportation, but for most people, this is no longer the case. If your father bought you a horse today, you would be a spoiled princess. A hundred years ago, if your father bought you a horse, you should have taken it to the farm and work. The bottom line is that these technologies will not completely eliminate banks. It will simply make it a mysterious hobby And it is strange for a few fanatics who like to do things "on the old roads". Every now and then, when I go to the supermarket, he's forced to stand and wait patiently behind the accounting boxes Because someone in the front of the row took out a checkbook for payment by bank check.

Everyone behind him in the class sighed deeply. . This person will never use a credit card. However, your children will not use it either. It would look silly and outdated, like using a steam engine. Or horseback riding, or driving your own car, Or use paper money or a credit card, and most importantly, use a bank. The biggest illusion that humanity lies beneath is the impression of the absence of change. We spend most of our lives assuming that all we are exposed to is the same as what people are always exposed to. Then we are shocked to realize that people have done strange things in the past that we do not understand. This is in the first half of our lives, if we are lucky enough to live longer, We are entering a more cruel period, in which we desperately try to cling to what we know and are familiar with and resist change, While the world around us seemed to go crazy.

Socrates wrote about the loss and common sense of the youth of his era. Because all they wanted to do was go to the theater, the most vulgar art, Instead of studying philosophy as their parents did. Perhaps the generations after Socrates found something else that young people did to criticize and grumble about. When I was young, some movies were considered very vulgar, now, cinema is an art form, Even the arts of television production are outdated. Young people of our time are wasting their energy and common sense on video games and cryptocurrencies And other things we can't understand. The world has just changed and has changed radically. And anyone who tells you that open source blockchains can be stopped, disabled or blocked He is someone who does not understand human nature. When technology gives people so much power, nothing will stop them from seeking to exert that power.

Satoshi Nakamoto is like the Greek giant Prometheus in our modern era, who stole fire from the gods and provided it to mankind. Unlike Prometheus, Satoshi was smart enough to vanish after him. Because the gods were deeply indignant with Prometheus. They tied him to a rock and tortured him forever. And it would most likely have happened to Satoshi Nakamoto as well. Disappearance was Satoshi's smartest thing ever, followed by the invention of Bitcoin. Now that bitcoin has happened, we have this superpower. This is super powerful. Make no mistake, everyone who learns can use this technique To become a superhero, A financial superhero for their entire community. No matter how angry and indignant the financial gods of our time, they will not be able to regain that strength. Thanks.

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