Building the Global Financial System with David Marcus
SHOW NOTES:
https://www.whatbitcoindid.com/podcast/building-the-global-financial-system
David Marcus is CEO & co-founder of Lightspark, a Lightning Network payments protocol. In this interview, we discuss his career in the payments industry and former role as head of Facebook's Libra project, his frustration with the current financial system, how Lightspark is focusing on addressing the challenges of the Lightning Network, the potential impact of real-time payment systems and the scalability of Bitcoin.
THIS EPISODE’S SPONSORS:
Iris Energy - https://irisenergy.co/
Wasabi - https://www.wasabiwallet.io/
Ledger - https://www.ledger.com/
Unchained - https://unchained.com/
Orange Pill App - https://www.theorangepillapp.com/
SUPPORT THE SHOW:
→ Become a Patron: https://www.patreon.com/whatbitcoindid/
→ Subscribe on iTunes
→ Leave a review on iTunes
→ Share the show out with your friends and family on social media
→ Drop me a line on hello@whatbitcoindid.com
→ https://www.whatbitcoindid.com/sponsorship/
TIMESTAMPS:
00:00:00 Introduction
00:05:45 Lessons from Libra
00:16:34 Senate testimony; Why Bitcoin
00:29:36 Building Lightspark
00:40:41 Bitcoin vs CBDCs reality
00:50:28 Institutional Bitcoin future
01:03:22 Scaling to Billions; volatility
01:10:48 BTC Treasury strategy
WHERE TO FIND THE SHOW:
→ My website: https://www.whatbitcoindid.com/podcast/
→ iTunes: https://apple.co/2OOlzVV
→ Spotify: https://spoti.fi/2ygc4W1
→ Stitcher: https://bit.ly/2IQO8fX
→ SoundCloud: https://bit.ly/2CGSVQR
→ YouTube: https://bit.ly/3nyi9Ez
→ TuneIn: https://bit.ly/2ywystr
LISTEN TO OLD EPISODES:
→ By guest: https://www.whatbitcoindid.com/guests/
→ By topic: https://www.whatbitcoindid.com/topics/
→ Transcriptions: https://www.whatbitcoindid.com/transcriptions/
WHERE TO FOLLOW ME:
→ Twitter: https://twitter.com/whatbitcoindid/
→ Medium: https://medium.com/@whatbitcoindid/
→ Instagram: http://instagram.com/whatbitcoindid/
→ Facebook: https://www.facebook.com/whatbitcoindid/
→ YouTube: https://www.youtube.com/whatbitcoindidpodcast
→ Website: https://www.whatbitcoindid.com/
→ Email list: https://www.whatbitcoindid.com/subscribe/
LEARN ABOUT BITCOIN:
→ Step by Step Guide: https://www.whatbitcoindid.com/learn-bitcoin
→ Training: https://www.whatbitcoindid.com/training/
→ Resources: https://www.whatbitcoindid.com/resources/
#Bitcoin #Finance #Economics
****
“You can theorise a lot about the experience we’ve had, but having lived it has changed my worldview and my appreciation in such a way that now I have this unshakeable conviction that Bitcoin is the only form of neutral internet money there will ever be.”
— David Marcus
David Marcus is CEO & co-founder of Lightspark, a Lightning Network payments protocol. In this interview, we discuss his career in the payments industry and former role as head of Facebook's Libra project, his frustration with the current financial system, how Lightspark is focusing on addressing the challenges of the Lightning Network, the potential impact of real-time payment systems and the scalability of Bitcoin.
- - - -
David Marcus' journey into the payments industry began at the age of 23 when he started his first company after working at a bank. He built a successful telco company in Switzerland and later started another company focused on mobile payments. His journey took him to Silicon Valley, where his company was eventually acquired by PayPal.
Despite his success, Marcus feels frustrated with the state of payments and the lack of an open and interoperable protocol for money on the internet. He believes that money is an important aspect of people's lives and how they measure success. He sees a lot of injustice in the current financial system and feels passionate about improving it.
Our conversation covers David’s role in heading Facebook's involvement in the payments space, particularly with the development of Libra, a payment system designed to reach billions of people. We talked about the challenges and pushback the project faced, and how the Libra project was a significant part of Marcus' journey in building his current company, Lightspark.
David has come to the conviction that Bitcoin is the only form of neutral internet money, which stems from his experience trying to build a technology that could scale and provide a stable form of digital money. He believes that a real-time global payment systems, similar to sending an email or text message, combined with the decentralization and liquidity of Bitcoin, can unleash a significant increase in global GDP. Scaling issues will be a major challenge as adoption increases.
Lightspark seeks to help address these limitations by focusing on the usability and operational challenges of the Lightning network, such as liquidity management and route finding. They have developed technology to simplify Lightning's channel-based system, making it easier to spin up and maintain Lightning Network nodes, allowing for faster and cheaper bitcoin movement. There are also other potential innovations that could greatly enhance Bitcoin’s use as a payments rail.
-
1:21:58
Mr Obnoxious
27 days agoFree Speech, Government Overreach & Immigration | Dominic Frisby x Peter McCormack
247 -
LIVE
Biscotti-B23
3 hours ago🔴 LIVE EARLY ACCESS SONIC X SHADOW GENERATIONS 💨 SHADOWS STORY PLAYTHROUGH
1,127 watching -
Graham Allen
2 hours agoBiden Harris Plan To JAIL Trump! THEY ARE SCARED! + Trump Is OFFICIALLY Going On Joe Rogan!
11.5K36 -
LIVE
Jeff Ahern
1 hour agoNever woke Wednesday with Jeff Ahern (6am Pacific)
649 watching -
35:54
BonginoReport
4 hours agoWar Hawks Pounce on Pro-Peace Trump (Ep.70) - 10/23/24
24.3K122 -
1:16:21
Game On!
14 hours ago $2.71 earnedNFL experts SHOCKINGLY predict the 49ers to MISS the playoffs!
11.8K3 -
1:30
Producer Michael
20 hours agoWE FOUND HUNDREDS OF LUXURY WATCHES YOU DIDN’T KNOW EXISTED!
31.6K3 -
7:59
The Tulsi Gabbard Show
12 hours ago $18.20 earnedI'm Officially Joining The Republican Party
45.2K96 -
32:47
Stephen Gardner
13 hours ago🔥Jon Stewart provokes EXPLOSIVE REACTION as Trump CROWD GOES CRAZY!
41.7K208 -
35:46
Popcorn In Bed
1 day agoONCE UPON A TIME IN HOLLYWOOD (2019) | FIRST TIME WATCHING | MOVIE REACTION
24.3K3