Bitcoin: A Novel Economic Institution with Yassine Elmandjra

“Bitcoin is not going away… whether or not you like it, whether or not you have qualms with it, whether or not your government has banned it or you know of a government has banned it. It lives and breaths on the internet and is effectively unstoppable.” — Yassine Elmandjra Location: Squadcast Date: Wednesday 23rd September Company: Ark Investment Management Role: Thematic Analyst Before the advent Bitcoin, financial systems operated based on trust. Central banks, government-issued fiat money and payment processors all rely on trusted third parties. Relying on trust-based systems leaves the user vulnerable to decisions that do not necessarily benefit them, from inflation of the money to supply to the censoring of transactions. Bitcoin changes this. With Bitcoin, there is a fixed supply and rigid monetary policy, and the rules of the system can't be changed at the whim of a small group of people. Add to this the ability to truly custody your wealth; it is clear to see why Bitcoin is so revolutionary. Not everyone has been quick to pick up on Bitcoin. Many institutional investors are still sceptical for many reasons, from the old defunct arguments that Bitcoin is for criminals and terrorists to concerns around price volatility. However, there are signs that institutions are beginning to shift their thinking, highlighted by MicroStrategy's recent decision to move $425 million of their treasury into Bitcoin. In this interview, I talk to Yassine Elmandjra, a Thematic Analyst at Ark Investment, who recently published two whitepapers on Bitcoin. We discuss trust-based v trust minimised systems, property rights and institutional investment in Bitcoin. This episode’s sponsors: Kraken - The best place to buy, sell & trade Bitcoin BlockFi - The future of Bitcoin financial services Sportsbet.io - Online sportsbook & casino that accepts Bitcoin Casa - The leading provider of Bitcoin multisig key security. Least Authority - Helping projects improve their security and build secure technology. ----- WBD264 Show Notes: https://www.whatbitcoindid.com/podcast/a-novel-economic-institution-with-yassine-elmandjra ----- If you enjoy The What Bitcoin Did Podcast you can help support the show my doing the following: Become a Patron and get access to shows early or help contribute Make a tip: Bitcoin: 3FiC6w7eb3dkcaNHMAnj39ANTAkv8Ufi2S QR Codes: Bitcoin If you do send a tip then please email me so that I can say thank you Subscribe on iTunes | Spotify | Stitcher | SoundCloud | YouTube | Deezer | TuneIn | RSS Feed Leave a review on iTunes Share the show and episodes with your friends and family Subscribe to the newsletter on my website Follow me on Twitter Personal | Twitter Podcast | Instagram | Medium | YouTube If you are interested in sponsoring the show, you can read more about that here or please feel free to drop me an email to discuss options.