Speaker 1: Hello, and welcome to another episode of The Markmas Show,
Speaker 1: where we talk about, of course, the decentralized revolution, how
Speaker 1: the world is changing, it's decentralizing, it's breaking apart. Of course,
Speaker 1: we're talking about deglobalization, all those things, and we look
Speaker 1: at it through the lens of politics, finance, and technology.
Speaker 1: And luckily for me, there's a lot to talk about
Speaker 1: because Whitman the thing, the world is changing super fast.
Speaker 1: For everybody else, it can be stressful. I get it.
Speaker 1: I understand if you don't understand what's going on or
Speaker 1: where things are going and stressful, but we'll hopefully break
Speaker 1: through some of that today. I want to talk about,
Speaker 1: of course, I talk about the lens of politics, finance,
Speaker 1: and technology together. They all move together, and I believe
Speaker 1: that we have to look at those things in context.
Speaker 1: And I want to talk about something today. I want
Speaker 1: to talk about a new types of technology that are
Speaker 1: developing right now that will change both politics and finance.
Speaker 1: And there's two pieces of technology. Really there's a third.
Speaker 1: We're gonna talk about two today that I am really
Speaker 1: excited for all throughout. His technology is what changes the
Speaker 1: world more than anything. It changes the way that we
Speaker 1: communicate changes the way we organize and changes the way
Speaker 1: that the politics works everything, And like I said, we
Speaker 1: have massive change today. And what I believe is that
Speaker 1: solutions are supposed to come to problems. That's the way
Speaker 1: it's supposed to work. There's a big problem and then
Speaker 1: a piece of technology comes to solve that. But then
Speaker 1: it changes things. And that's what we're gonna talk about. So,
Speaker 1: like I said, there's two pieces of technology that I
Speaker 1: am super excited about. You know, I got to a
Speaker 1: point where I was like, you know, the last hundred years,
Speaker 1: one hundred and twenty years, we had the invention of
Speaker 1: the automobile, and then we had space travel, and then
Speaker 1: we had personal computers, and then we have the Internet,
Speaker 1: and all these things happen, and it seemed like myself
Speaker 1: and maybe even a lot of other people kind of
Speaker 1: seem like technology sort of stalled out a little bit,
Speaker 1: like man, we've we've we've got all the technology games
Speaker 1: we're gonna get Like now it's just going to be small, incremental,
Speaker 1: like what more can we do? But I've changed my
Speaker 1: mind on that, and I believe that the next five
Speaker 1: years are going to change more than we'll even know.
Speaker 1: And so there's two pieces of technology I want to
Speaker 1: talk about that really are super super important for today,
Speaker 1: but they're also they also help us understand what the
Speaker 1: heck is going on today. Now. Part of what's given
Speaker 1: me some of the context is I'm starting to read
Speaker 1: a new book. The book is called The Revolt of
Speaker 1: the Public. Then the author is Martin Gurry. For a
Speaker 1: fun fact, I'm going to have him on the podcast
Speaker 1: next week. We're going to interview with him. So of
Speaker 1: course I'm reading his book, and The Revolt of the Public,
Speaker 1: if I'm going to summarize it real quick, is talking
Speaker 1: about how the public, you and I are revolting against authoritarians,
Speaker 1: against leadership, against what he would call the center. So
Speaker 1: you have the center, which is the establishment, and then
Speaker 1: you have the fringe or what he calls the border.
Speaker 1: And what he's talking about is the revolt of the public.
Speaker 1: And the reason why is because what he's calling as technology.
Speaker 1: So all throughout history, as far back as we can go,
Speaker 1: those who want to control us, those who want power
Speaker 1: over us, have to control the flow of information, and
Speaker 1: they need to tell us the story. They need to
Speaker 1: control that story. They need to control the narrative so
Speaker 1: that they can control what goes in our head and
Speaker 1: then ultimately control what we desire and what we don't desire.
Speaker 1: And they've done pretty well with that because up until
Speaker 1: about five hundred years ago, information didn't really move very freely.
Speaker 1: As a matter of fact, he talks about like five
Speaker 1: phases of information. Don't worry, we're gonna pass the information side.
Speaker 1: I don't want to kind of frame this up for you,
Speaker 1: but there's like five phases of information, and of course
Speaker 1: it goes with spoken word, and then of course then
Speaker 1: there was a written text and there's different things. But
Speaker 1: it wasn't really until the fifteen hundreds, and actually the
Speaker 1: fourteen hundreds, to be exact, is when a new piece
Speaker 1: of technology was created. I talked about all the time.
Speaker 1: It was the Gutenberg printing press, and what that did.
Speaker 1: At the time that the church and the state were
Speaker 1: basically telling the people what the Bible said, They were
Speaker 1: distorting the truth, they were creating misinformation, telling them lies
Speaker 1: about what the actual Bible said, what the document said,
Speaker 1: and they did that in order to control the people.
Speaker 1: But when the printing press came out, the first book
Speaker 1: they started printing was the Bible. It was invented so
Speaker 1: they could produce the Bible, and they produced the Bible
Speaker 1: in mass, and as the people got the Bible, they
Speaker 1: started to read it directly, and they said, wait a minute,
Speaker 1: this isn't what our leaders have been telling us. They've
Speaker 1: been lying to us all a line. We don't need them,
Speaker 1: We don't have to do these things. We can have
Speaker 1: our own path to God. We don't have to follow that.
Speaker 1: And so all of a sudden there was a revolt
Speaker 1: against this established order, the establishment, the combined church and state,
Speaker 1: who had been lying, who had been spreading misinformation were
Speaker 1: now found out. Now, of course, they didn't like that,
Speaker 1: and so they tried to they try to stop it.
Speaker 1: Right of course, so anybody who spoke out against that
Speaker 1: was labeled a heretic. It was called heresy, and it
Speaker 1: was punishable by death. And the state, the establishment at
Speaker 1: the time, tried everything they could to stop that is
Speaker 1: that even punishable by death. But it didn't matter, because
Speaker 1: once the information was out there, once that genie was
Speaker 1: out of the bottle, it couldn't go back. They say,
Speaker 1: there's a no standing army is a match for a
Speaker 1: good idea whose time has come. And so once that
Speaker 1: information has been out it didn't matter. And as a
Speaker 1: matter of fact, the more that the state tried to
Speaker 1: suppress that information, the more they tried to discredit people,
Speaker 1: suppress information, distort, manipulate, etc. And even kill. The more
Speaker 1: they did that, it just brought even more attention to
Speaker 1: what was going on. And of course that changed the world.
Speaker 1: The state lost the power. We're in from a very
Speaker 1: centralized world to more of a decentralized world where everybody
Speaker 1: kind of spread out, went back into the farm and
Speaker 1: farm and cottage industry. Now, I want to frame that
Speaker 1: up because we're witnessing something else happening today, and this
Speaker 1: is what is framed up in this book, the Revolt
Speaker 1: of the public. And we're gonna get into the two
Speaker 1: technologies that are popping up because of this. But basically
Speaker 1: the revolt of the public is is a continuation of that.
Speaker 1: So once the people surprise, surprise, Once the people can
Speaker 1: get their own information and can think for themselves, they
Speaker 1: don't want to be lied to and told what to
Speaker 1: do by some arbitrary power that has tried to establish
Speaker 1: themselves there, sobrise surprise. Right. So the goal of authoritarian
Speaker 1: is to try to control the flow of information. Now,
Speaker 1: what he's calling the roles of the public is that
Speaker 1: we have a new technology about five hundred years later
Speaker 1: called the Internet. And what the Internet has done is
Speaker 1: for the first time allowed for massive amounts of information
Speaker 1: to be created, to be transferred. But it was also
Speaker 1: done as it's broken down authority structure. So in two
Speaker 1: thousand and one, So you know, it depends on where
Speaker 1: you want to pencil or put your finger on where
Speaker 1: the creation of the Internet was, but probably the dot
Speaker 1: com boom nineteen ninety nine and the dot com crash
Speaker 1: two thousand. So kind of looking at two thousand, let's
Speaker 1: go one year past the two thousand dot com boom
Speaker 1: bust in two thousand and one, per the book, in
Speaker 1: two thousand and one is an amazing act. More information
Speaker 1: was created in two thousand and one than all of
Speaker 1: humanity before that. That's amazing. And two thousand and two
Speaker 1: saw it double. In two thousand and three saw it
Speaker 1: double again. And now we're on this exponential path of information.
Speaker 1: Now information could be created instantly, it could be shared
Speaker 1: at the speed of light, and it could be shared
Speaker 1: with people all over the world, millions and millions of
Speaker 1: people with a push of a button. Now the problem
Speaker 1: is that the authoritarians, the governments, the leaders, the establishment,
Speaker 1: wants to pretend they want to put themselves up on
Speaker 1: a pedestal like they are the authority. We should only
Speaker 1: listen to them. The problem is that they tell us something.
Speaker 1: And actually I believe it was called Cronkite Gate. Walter Kronkite,
Speaker 1: a famous newscaster. He put out a news story that
Speaker 1: wasn't accurate, and the people were able to pick that
Speaker 1: apart very quickly and discredit him, and that was kind
Speaker 1: of the fall of this, the start of this, this revolt.
Speaker 1: And he goes on and talks about over and over
Speaker 1: and over how this has taken place, how the Arab spring,
Speaker 1: you know in the Middle East, how that fell, how
Speaker 1: revolt revolution happened in Iran, in Egypt, and it happens
Speaker 1: over and over because the government isn't able, the authoritarians
Speaker 1: aren't able to control the flow of information anymore. And
Speaker 1: now we don't have to listen to them as authorities.
Speaker 1: Now all of us are authorities and we can crowdsources information.
Speaker 1: I see it all the time. I'll see somebody say
Speaker 1: something on Twitter and I'm like, oh, man, that's that's
Speaker 1: pretty good. That's pretty interesting. I didn't think about it
Speaker 1: like that, but then I read the comments down below,
Speaker 1: and everybody starts chiming in and picks it apart. Oh,
Speaker 1: and that's not right, that's not factually correct. Though. Here's
Speaker 1: the rebuttal, here's actually what happened, and it's crowdsources of
Speaker 1: that information, and we're breaking down those establishments and we're
Speaker 1: now able to share this. That's the revolt of the public.
Speaker 1: So I kin't want to frame that up. And this
Speaker 1: is only going to continue. We're going to continue to
Speaker 1: see government lose power. The only way forward is the government.
Speaker 1: The government's going to have to realize they don't have
Speaker 1: the power any more. We're gonna have to see a
Speaker 1: massive shrinking of the government, and there's gonna have to
Speaker 1: be a new agreement between the public and the leaders.
Speaker 1: It's the only way forward because you can't put this technology,
Speaker 1: you can't put the genie back in the bottle. Now.
Speaker 1: Of course they're gonna try, just like the Church did
Speaker 1: with the heretics and the heresy. They'll try the same thing,
Speaker 1: but there's new technologies that are popping up that will
Speaker 1: make it impossible. All right, Now, I gotta take a
Speaker 1: quick break. I'm gonna come back. I'm gonna tell you
Speaker 1: about the two technologies that are changing the world and
Speaker 1: you need to know about. Don't go away, I'm gonna
Speaker 1: be right back. All right, welcome back. If you're just
Speaker 1: tune in, you're listening to the Mark Moss Show. We're
Speaker 1: talking about, of course, each week, the decentralized Revolution. Today
Speaker 1: I'm talking about two technologies that are happening that I'm
Speaker 1: really excited for, and they are decentralized technologies. Of course.
Speaker 1: Now we typically talk about bitcoin as a decentralized technology,
Speaker 1: but there's other types of decentralized technologies and they don't
Speaker 1: always have to be blockchains. So we're gonna talk about that.
Speaker 1: And really we're gonna talk about open networks. So the
Speaker 1: difference of a closed network, a centralized network versus open
Speaker 1: networkord decentralized network. And we're going to talk about from
Speaker 1: an open monetary network and an open information network. Now,
Speaker 1: when I opened up, I was talking about this book
Speaker 1: I'm reading The Revolt of the Public and how all
Speaker 1: throughout history there's countless examples of how authoritarians try to
Speaker 1: control information to control the people. But once information gets
Speaker 1: out there, they're just not able to do that, and
Speaker 1: of course it's getting harder and harder for them to
Speaker 1: do that. In the information age, as we all know,
Speaker 1: we're all on smartphones and connected on Twitter and social media,
Speaker 1: and of course that's why you hear things like the
Speaker 1: Twitter files where the governments are working directly with social
Speaker 1: media companies to censor us. But problems come to solutions.
Speaker 1: So as those problems continue to mount, as the state
Speaker 1: continues to try to squeeze harder to hold us hostage,
Speaker 1: if you will, new technologies are being created. That's want
Speaker 1: to talk about. Now. If we look at recent decades,
Speaker 1: we can see that they've been primarily driven by closed systems, right,
Speaker 1: both information and monetary. We're going to look at both
Speaker 1: of those. And if you think about it, actually to
Speaker 1: go through a little bit of a philosophical level, money
Speaker 1: is just information. My good friend Robert Breedlove has a
Speaker 1: podcast called What is Money, and he talks about what
Speaker 1: money is. And so a lot of people think they
Speaker 1: know what money is, but I've never really thought about
Speaker 1: it from a philosophical level. But money is just communication.
Speaker 1: Money communicates value. If I want to get this thing
Speaker 1: from you, you say, you want ten dollars, If I
Speaker 1: value that more than I value the ten dollars that
Speaker 1: I have, I will give you that money, and it
Speaker 1: communicates that I value that. It's an exchange of value.
Speaker 1: So anyway, information money is information and it communicates value.
Speaker 1: So anyway, we've seen that. Basically, let's start with the
Speaker 1: financial system. So the financial system as we know it
Speaker 1: is a closed system. As a matter of fact, banks
Speaker 1: and brokerages operate as basically a permissioned ledger. So if
Speaker 1: you want to go to a bank account, you have
Speaker 1: to obviously get permissioned to fill out all types of
Speaker 1: paperwork to do that. Opening accounts with institutions is a
Speaker 1: permissioned activity. They have to decide if they want to
Speaker 1: allow you to do that. Of course, even sending your
Speaker 1: own money from your own bank account to somebody else
Speaker 1: is also a permissioned activity, and they can decide if
Speaker 1: they want to allow you to move that money or not.
Speaker 1: What a lot of people found out is that the
Speaker 1: money in the bank is not your money, not legally. Legally,
Speaker 1: the bank owes you the money. It's a big difference legally,
Speaker 1: which means they have the right to decide whether they
Speaker 1: want to transmit that money PayPal, Venmo, but even your
Speaker 1: own bank, I get stumped all the time. I get
Speaker 1: asked all the time by my bank do they want
Speaker 1: to allow me to send that wire? And those are
Speaker 1: permissioned activities. We see that all the time now. The
Speaker 1: Internet also, it started out very open and decentralized, and
Speaker 1: a lot of people think the Internet still is decentralized,
Speaker 1: which most of it is, right, I mean, obviously we
Speaker 1: can publish stuff and share information across the Internet, but
Speaker 1: most of it has been consolidated and centralized into what
Speaker 1: would consider these sighs. Right. So Twitter has this big silo, Facebook, YouTube, LinkedIn,
Speaker 1: things like that, and those are closed networks. So in
Speaker 1: order to join Facebook or LinkedIn or whatever, Twitter, I
Speaker 1: have to have permission. In order to use that, I
Speaker 1: have to have permission. All my activity is permission. If
Speaker 1: I say something that they don't like, then I lose permission,
Speaker 1: I lose my entire account. So all of that's permission,
Speaker 1: and even sending information between the platforms isn't even allowed,
Speaker 1: It's not even possible. But today we have new technologies
Speaker 1: that are changing all that. This is a massive paradigm shift.
Speaker 1: We have open monetary protocols. Of course I talk about
Speaker 1: bitcoin right all the time. It's the emergence of a newer,
Speaker 1: open information protocol that we can transfer value. But then
Speaker 1: we also have other information protocols, and this is one
Speaker 1: I've talked about a little bit before, but I just
Speaker 1: contend to get more and more excited about and you
Speaker 1: might have heard about. It's called noster in OSTR. And basically,
Speaker 1: between these open monetary protocols and open information protocols, it's
Speaker 1: challenging the state, just like the printing press challenge of state.
Speaker 1: Now the Internet tried to it started to challenge the state,
Speaker 1: which it already has, like I said, it's already been
Speaker 1: responsible for organizing revolutions in Iran and Egypt and so forth.
Speaker 1: But now the state's tried to figure out how to
Speaker 1: grasp that. But today, with the monetary protocols, information protocols,
Speaker 1: it's going to challenge the state and they they're not
Speaker 1: going to stand a chance. Let's talk about this. So money,
Speaker 1: like I said, money has been closed source. You have
Speaker 1: to have permission. Now, about eight billion people in the
Speaker 1: world today and about two billion adults don't have access
Speaker 1: to banking either don't have access to it. They can't
Speaker 1: afford it, or they don't have permission to join. Right,
Speaker 1: you have this global network of interconnected banks that allow
Speaker 1: you to send money, but if you don't have permission
Speaker 1: to join, you can't get into the finsive system. Or
Speaker 1: if you find yourself like Iran or Russia where you're
Speaker 1: sanctioned and kicked out of the financial system, you don't
Speaker 1: have permission to operate. Now, we've seen all types of
Speaker 1: development technology happening supposedly all these fintech companies, and what
Speaker 1: they've done is developed layers on top of traditional banking rails.
Speaker 1: And so again you have Venmo or cash app or
Speaker 1: something like that. But Venmo connects to your credit card,
Speaker 1: which connects to your bank. Right, So it's an app
Speaker 1: and it's cool and it makes it easier whatever to
Speaker 1: send money back and forth. But the reality is it
Speaker 1: just still works on top of the banking layer all right. Now,
Speaker 1: like I said, it makes it easier, makes it faster,
Speaker 1: but it doesn't change anything. It's still the same permission
Speaker 1: bank account. Now, when you want to get outside of
Speaker 1: that permissioned area can become a real big problem. So,
Speaker 1: for example, try sending money to another country that use
Speaker 1: a different siloed money system. So send money to El Salvador.
Speaker 1: See what happens that works. Especially, try it with a
Speaker 1: very small transaction, and you'll find out most times it's
Speaker 1: probably not worth it because of the high percentage of
Speaker 1: fees that people will pay. According to the World Bank,
Speaker 1: the average fee percentage on a remittance payment, so that's
Speaker 1: sending money to somebody else in another country, is six
Speaker 1: and a half percent. Now, if you're doing it directly
Speaker 1: to banks, the fee percentage is usually about twelve percent.
Speaker 1: It's a big chunk. It's a real big chunk. And
Speaker 1: what we also saw from that same report, seventy six
Speaker 1: percent of people have an account at a bank, So
Speaker 1: that means whatever. Twenty five percent of people don't. They
Speaker 1: don't have an account at the bank. They're not in
Speaker 1: the global financial system. Now, I've often said that this phone,
Speaker 1: the smartphone, is like the great equalizer. If you have
Speaker 1: access to a smartphone, you have access to the internet.
Speaker 1: You can learn anything, you can meet anyone, you can
Speaker 1: do anything. You can be a kid with an Instagram account,
Speaker 1: make a hundregranm. But not not if you're allowed, not
Speaker 1: allowed to be in the financial system. You have to
Speaker 1: be in the financial system, otherwise you have no chance. Now,
Speaker 1: a lot of people aren't really aware of this from
Speaker 1: a global perspective. A lot of people approaches from a
Speaker 1: very US centric viewpoint. But think about it like this,
Speaker 1: what about all the refugees that are fleeing Ukraine, or
Speaker 1: have fled Syria, or they've fled Venezuela. What about all
Speaker 1: those people they've left? You know, they have war torn regions,
Speaker 1: they don't have IDs, they don't even have a path
Speaker 1: to get an ID. Their country's gone. They can't even
Speaker 1: go home and get an ID. So what are they
Speaker 1: going to do? How are they going to join the
Speaker 1: financial system? Of course, the answer is they won't. However,
Speaker 1: those same people they don't have an ID, they won't
Speaker 1: have permission to open a bank account, but they have
Speaker 1: a smartphone. As a matter of fact, over eighty six
Speaker 1: percent of people in the world today have a smartphone.
Speaker 1: Seven point one billion people have a smart phone globally.
Speaker 1: And that is what will change things. If you're just
Speaker 1: tune in its into the Markmas show. We're talking about
Speaker 1: the decentralized revolution. I'm talking about two technologies today that
Speaker 1: I think are going to change the world. More than
Speaker 1: anybody realizes that it's going to happen much faster. I
Speaker 1: think in the next five years, the world's gonna look
Speaker 1: a lot different the decentralized Revolution as what we're talking about.
Speaker 1: I want to continue to talk about these two different
Speaker 1: types of technologies, how they're going to change, and what
Speaker 1: you need to know to take advantage of them and
Speaker 1: not get wiped out. So I'm gonna be back with
Speaker 1: all that a minute. I gotta take a quick break,
Speaker 1: will be right back. Don't go away, all right, Welcome back.
Speaker 1: If you're just tune in, you're listening to the Mark
Speaker 1: Moss Show. We're talking about, of course each week, the
Speaker 1: decentralized Revolution. Today I'm talking about two different pieces of
Speaker 1: technology that are decentralizing the world. It's going to make
Speaker 1: it impossible for the leaders, the governments, the states to
Speaker 1: continue to centralize power. It's always technology that changes things.
Speaker 1: We're talking about that. If you missed it, don't worry,
Speaker 1: go catch it on the podcast. Just search the Mark
Speaker 1: Moss Show on your favorite podcast, or just go to
Speaker 1: YouTube and search Market Disruptors and you can find you
Speaker 1: can watch me listen to me at the same time.
Speaker 1: Now we're talking about this, and we're talking about how
Speaker 1: if you think about think about the world globally, all right,
Speaker 1: you have to think think globally. If you're gonna make it,
Speaker 1: you gotta think globally, because we're moving too this decentralized revolution.
Speaker 1: And if you understand technology, you understand like in the
Speaker 1: United States, the Internet grew really fast because we had
Speaker 1: this wired telephone system, and then the Internet was able
Speaker 1: to work off of that Internet that wired telephone system.
Speaker 1: If you remember the old days of the Internet, it
Speaker 1: was a dial up, right, and it worked on the
Speaker 1: phone system. But then you had nations like Africa that
Speaker 1: leapfrog passed the US. They didn't have wired they went
Speaker 1: straight to wire lists. And so that's we have to
Speaker 1: understand the global perspective, the global picture, and so sort
Speaker 1: of the same thing. If we're looking at it from
Speaker 1: a very US centric viewpoint. We have this US banking
Speaker 1: system and that works really well. What do we need
Speaker 1: what do we need a solution for that for? But
Speaker 1: in other nations across the world, they have big problems
Speaker 1: and they're leapfrogging past our existing system and building up
Speaker 1: a new system. So, like I was saying, if we
Speaker 1: think if we think about this globally, we have you know,
Speaker 1: all these refugees from all over the world. They don't
Speaker 1: have IDs, they don't have a path to get ideas,
Speaker 1: and because of that, they won't be able to get
Speaker 1: bank accounts. They won't be able to participate in the
Speaker 1: global financial system. But seventy six, sorry was the percentage.
Speaker 1: But they have smartphones. They have smartphones. Now, if you
Speaker 1: have a smartphone, then you can participate. We're gonna talk
Speaker 1: about that in a second. But just for some other numbers,
Speaker 1: if we look at some areas like Nigeria, for example,
Speaker 1: only forty five people have forty percent of the people
Speaker 1: have a bank account. In Palestine only thirty four percent
Speaker 1: of people have a bank account. That means they can't
Speaker 1: participate in this global marketplace now. According to the World Bank,
Speaker 1: also seventy five countries still have restrictions on women's rights
Speaker 1: to manage assets. So all you feminists and women's rights
Speaker 1: out there, seventy five countries in the world today still
Speaker 1: don't allow women to have assets. Why they don't have permission?
Speaker 1: Getting the point here, the authoritarians the Nation States, they
Speaker 1: want to control everything, and they want to control who
Speaker 1: has permission. Seventy five countries don't allow women to have
Speaker 1: permission over their money. Now, like I said, a lot
Speaker 1: of people aren't really aware of these situations where I
Speaker 1: want to kind of bring this up. But all of
Speaker 1: these people have access to smartphones. Now, from a you know,
Speaker 1: society level, you might go, well, you know, there are
Speaker 1: some people we don't want to have bank accounts. I guess, right,
Speaker 1: like some people might you know, we should probably shut
Speaker 1: them off. Like we can see back through history companies
Speaker 1: that have been d banked Operation choke Point. Under the
Speaker 1: Obama administration, they started shutting down legal operations access to banking,
Speaker 1: you know, if they did online gambling or gun stores,
Speaker 1: things like that. We saw Wiki leaks. Wiki leaks was
Speaker 1: shut down from its payment processor. If you were protesting
Speaker 1: in Canada, for example, under the Trucker protest, you got
Speaker 1: your bank account shutdown. And you can see that if
Speaker 1: you just do the wrong thing. Now, they were doing
Speaker 1: some supposedly something that was constitution protected, such as the
Speaker 1: right to assemble, and people donated money to a go
Speaker 1: fund me and their accounts frozen. So you have to understand, yeah,
Speaker 1: you always want to stay open to this because even
Speaker 1: though you might like a law or a policy going
Speaker 1: into effect, you have to think about how it could
Speaker 1: be used against you, because unfortunately, once that law goes
Speaker 1: into place, it could be used against you. And the
Speaker 1: world so divided, there's always going to be somebody on
Speaker 1: the other side of the aisle from you. Now, if
Speaker 1: we look at that, like, how does that affect you
Speaker 1: in the United States, Well, it's happening in the United States,
Speaker 1: But look at it again from a global perspective. We
Speaker 1: can see that there's billions of people, about three billion
Speaker 1: people live under harsh authoritarian countries and that number is
Speaker 1: growing by the day. And so if we had something
Speaker 1: like open source money, which of course we do, that
Speaker 1: could potentially fix it. We have this open source monetary network,
Speaker 1: it's called Bitcoin. It's been around about fourteen years, and
Speaker 1: it's open. And what that means is it's open, it's borderless,
Speaker 1: it's permission less. You don't need permission, you don't need
Speaker 1: an ID. Anybody with a smartphone, which eighty six percent
Speaker 1: of the world has one, could download an app and
Speaker 1: instantly receive payments and it works borderless. I can now
Speaker 1: send money, I can send it remances anywhere in the world,
Speaker 1: instantaneous and for free, without permission, without an eleven percent
Speaker 1: fee from the bank, but more importantly without permission. That's
Speaker 1: the thing. If you have to ask for permission to
Speaker 1: do anything, are you really free? So now we have
Speaker 1: this open source network, we can do payments, we can
Speaker 1: save our money, and anybody with an Internet connection has
Speaker 1: access to doing this without having a permission. If we
Speaker 1: look at a closed monetary network, again, our existing banking system,
Speaker 1: the Federal Reserve system, it's set up in a hierarchy way, right,
Speaker 1: So basically, if you want to open up a bank
Speaker 1: or be involved in banking or money transmission, you have
Speaker 1: to get permission. You see that there's these problems. It's
Speaker 1: hard to move money. So you want to create a solution.
Speaker 1: I have a new technology, I have an app, I
Speaker 1: have any way we can do this. You have to
Speaker 1: go to the banking system and get permission. And of course,
Speaker 1: if it's going to do anything to take away their
Speaker 1: ability to sense to art you, then they won't approve it.
Speaker 1: That's what happens all the time. As a matter of fact,
Speaker 1: I had Caitlyn Long on the show. If you haven't
Speaker 1: listened to that podcast with Caiten Long. You should definitely
Speaker 1: check it out. Just go back on the podcast and
Speaker 1: search Mark Moss Caitlyn Long, or you can go on
Speaker 1: my main YouTube channel, Mark Moss and listen to an interview.
Speaker 1: Got one hundreds thousands views. Was amazing. But she's tried
Speaker 1: to set up a bank called Custodia Bank, and it's
Speaker 1: a it's a novel idea. It would be a bank
Speaker 1: that would actually hold your money. So you understand today
Speaker 1: in this banking crisis that the banks don't have your money,
Speaker 1: that's why they're going bust. If the bank had your
Speaker 1: money available for withdraw there wouldn't be a problem. The
Speaker 1: Fed wouldn't have to come in and backstop the deposits.
Speaker 1: Put of course, the banks don't. So she had this
Speaker 1: great idea where, hey, how about we start a bank
Speaker 1: that actually holds your money. Bright idea, and guess what
Speaker 1: the Fed said, No, nope, you don't have permission to
Speaker 1: do that. You don't have a permission to create a
Speaker 1: bank that holds people's money and removes all the risk.
Speaker 1: Why would they do that, Well, the answer is they
Speaker 1: knew that if there was a bank that would hold
Speaker 1: people's money, then everybody would want to put their money there,
Speaker 1: and it would drain all the liquid from the financial
Speaker 1: system because everybody would want that. That's the ways competition
Speaker 1: is supposed to work. It always creates better service, better products,
Speaker 1: better prices when we can compete against each other. But
Speaker 1: of course to the authoritarians, to the state, they don't
Speaker 1: want to allow that competition, and so they shut her down.
Speaker 1: Now let's jump off of the monetary side and let's
Speaker 1: jump over to the social media side, the information side.
Speaker 1: So we see the same thing. Right, Like I said earlier,
Speaker 1: kind of on on surface, the Internet seems pretty decentralized.
Speaker 1: I could write something and post it, but I would
Speaker 1: have to post it somewhere someone could see it. So
Speaker 1: then that goes back to this kind of centralized, these
Speaker 1: closed silos. If you will, I'll post it on Medium,
Speaker 1: or I'll post it on sub stack if it's an article,
Speaker 1: but that's their sandbox. I could post it on Twitter
Speaker 1: or Facebook or Instagram, but that's their sandbox, right, it's controlled.
Speaker 1: They decide what goes on there, what comes down, what doesn't,
Speaker 1: and so it's basically consolidated. All these people, all these
Speaker 1: used into big pools. The other thing, as I was saying,
Speaker 1: earlier that you can't communicate from one silo to the next.
Speaker 1: So like a Twitter user can't send a message to
Speaker 1: a Facebook user, a LinkedIn user can't bring their followers
Speaker 1: over to a Twitter account, right because they're all siloed. Now,
Speaker 1: from a corporation's perspective, if your Twitter or your Facebook, etc.
Speaker 1: They would argue that they have to be able to
Speaker 1: remove a legal activity or spam, and you know, they
Speaker 1: want to comply with laws. Now. Of course, this is
Speaker 1: something we've argued many times. Section two thirty is supposed
Speaker 1: to insulate them from those laws if they keep an
Speaker 1: open network. From a government's perspective, they realize that, you know,
Speaker 1: people may say mean things online, so they want to
Speaker 1: they want to be able to cut people off to
Speaker 1: prevent public outrage. That's ultimate comes down to. If you're
Speaker 1: just tuning in you're listening to the Mark Mos Show,
Speaker 1: I'm talking about two technologies that are changing the world.
Speaker 1: That's going to change the world really really really fast.
Speaker 1: Of course, like I said, it's always technology to change
Speaker 1: in the world, and it's two different types of open
Speaker 1: source networks, monetary and information. I'm gonna continue to explain
Speaker 1: how this breaks down and then we're talking about how
Speaker 1: you can use them, how you can take advantage of them,
Speaker 1: where this goes, how you can protect yourself. I got
Speaker 1: a whole lot to cover in just a short period
Speaker 1: of time left with you. So I'm gonna take a
Speaker 1: quick break just for a second. I'll be right back.
Speaker 1: Don't go away, all right, Welcome back. If you're just
Speaker 1: tune in, you're listening to the Mark Moas Show. We're
Speaker 1: talking about two technologies that are changing the world. Open
Speaker 1: source monetary networks, which is bitcoin. We're talking about open
Speaker 1: source information networks that are being built on Noster. All right.
Speaker 1: So as we're talking about now, I was talking about
Speaker 1: how if we look at this from different different perspectives,
Speaker 1: we start to understand who maybe against this and why,
Speaker 1: And like I said, you know, from a government government's perspective,
Speaker 1: they need to control the flow of information. I started
Speaker 1: out talking about this book I'm reading called The Revolt
Speaker 1: of the Public, and how as the people, as the
Speaker 1: public get information, we start to realize that everything we've
Speaker 1: been told is a lie and we revolt. That's what
Speaker 1: that's we're talking about. So the government wants to control
Speaker 1: that right. They want to be able to demand. They
Speaker 1: want to be able to take down information that's inconvenient
Speaker 1: to them, that doesn't fit their you know, preferred narrative
Speaker 1: of course. Uh, you know the military industrial complex. It's
Speaker 1: been around for decades. They want to continue to have
Speaker 1: this effort for war so they can continue to extract
Speaker 1: more money. And we can see this in real time
Speaker 1: in many examples. India, a very large country, has a
Speaker 1: has a very established track record of telling Twitter, YouTube
Speaker 1: and other platforms to remove information. There's just there's countless
Speaker 1: stories of government abuses where they're trying to control the
Speaker 1: flow of information. So let's talk more about these different
Speaker 1: technologies that we have and how they can be used.
Speaker 1: So this new technology that we have, noster, it's pretty amazing. Basically,
Speaker 1: what it is, it's a decentralized network that allows users
Speaker 1: to share information over them. Now, it's not a blockchain,
Speaker 1: all right, it's a decentralized network. We don't need a
Speaker 1: blockchain for everything, we don't need a token for everything.
Speaker 1: And a matter of fact, we've had these decentralized networks
Speaker 1: for a long time. You guys might remember Napster or
Speaker 1: like BitTorrent, where you could download software, music, movies, things
Speaker 1: like that. That was all decentralized. It was censorship resistant.
Speaker 1: The governments couldn't shut it down. But yet we didn't
Speaker 1: need a blockchain for that. We're gonna talk more about
Speaker 1: that in a minute. But basically, the way that this
Speaker 1: noster is working is it sets up the series of relays,
Speaker 1: and these relays sort of like back to BitTorrent or napster.
Speaker 1: All these computers had little pieces of files on them
Speaker 1: and you could download them. This is a little bit different.
Speaker 1: You have all these computers that are relays and will
Speaker 1: relay the information. Now it's a protocol that allows for
Speaker 1: this transfer information. On top of this protocol, we then
Speaker 1: have applications of how we can use that protocol. So
Speaker 1: for example, let me let me let me give an
Speaker 1: example so you can understand this a little bit better.
Speaker 1: Technology scales and layers. So the base layer of the
Speaker 1: Internet is tcp IP. That's the Internet that allows packets
Speaker 1: of information to be exchanged from computer to computer. Well,
Speaker 1: then we wanted something like email, So then there's a
Speaker 1: second layer that's added on top of that called SMTP.
Speaker 1: If you set your email, you know that. Then we
Speaker 1: want security in our websites. Then we create HTTPS, right,
Speaker 1: and we start creating these different layers on top of that.
Speaker 1: But let's go back just to the email for example.
Speaker 1: So SMTP is a protocol that routes email, and that
Speaker 1: is a very decentralized network. But how do I access
Speaker 1: my email? Well, I could use different applications, different programs.
Speaker 1: I could use Gmail to do my email. I could
Speaker 1: use Hotmail, I could use mail Chimp. I could be
Speaker 1: more privacy centric, I could use proton Mail. And so
Speaker 1: I could use which email Outlook I could use. I
Speaker 1: could choose which client, which application I want to manage
Speaker 1: my email. Now, if I'm using my email on Gmail
Speaker 1: or Outlook or whatever, and I decide I don't like
Speaker 1: Outlook anymore. I don't like Gmail gmails now scanning all
Speaker 1: my emails, I don't like that one more privacy. So
Speaker 1: I'm going to go to proton I take all my
Speaker 1: emails with me. Right, So that's the thing. I own
Speaker 1: my emails, I own that list, my email list, and
Speaker 1: I can take it with me from Gmail to proton Mail. Also,
Speaker 1: proton Mail can speak to Gmail or Hotmail or Outlook.
Speaker 1: So the email, the SMTP is a decentralized protocol. The
Speaker 1: clients or the applications Gmail, Hotmail, proton Mail can be
Speaker 1: changed out interoperably. I can go from one to the next,
Speaker 1: keeping my list and they can communicate next to each other.
Speaker 1: That's what we're talking about. So Noster is a communication
Speaker 1: protocol that allows transfer information. Then we can build applications
Speaker 1: on top of that. So for example, there's one called
Speaker 1: damis right now, and it's basically like a Twitter client.
Speaker 1: So you can download damis from the Apple Store. It
Speaker 1: looks like it looks basically like Twitter, and now users
Speaker 1: can share information just like on Twitter, but instead of
Speaker 1: going through a centralized silo like Twitter, it's going over
Speaker 1: this decentralized Noster protocol. But it's even more important than
Speaker 1: that because now there's several there's I don't know, there's
Speaker 1: eight or ten different ones competing with damis right now
Speaker 1: that give you kind of this same look and feel
Speaker 1: of like a Twitter client. Now let's say that I'm
Speaker 1: using damis for my Twitter experience. But then they want
Speaker 1: to start charging me a fee, or they want to
Speaker 1: start censoring me or whatever. I can just leave and
Speaker 1: take my entire social media following to the next competitor.
Speaker 1: I'm no longer held captive by Twitter, just like I'm
Speaker 1: no longer held captive by Gmail or Hotmail or out look.
Speaker 1: Now it gets even better than that. So now I
Speaker 1: can have like a Twitter client sitting on top of
Speaker 1: a noster, and then I could create like a Telegram
Speaker 1: one or a YouTube version or something like that, and
Speaker 1: they can communicate back and forth to each other. So
Speaker 1: now I could share information from my Twitter client to
Speaker 1: my Telegram or my YouTube client. It's important to understand
Speaker 1: why this is going to be so big. One for
Speaker 1: the one, I mean, just the easy one to understand
Speaker 1: is that this is a decentralized, open protocol. That means
Speaker 1: I do not need permission to join Twitter, YouTube, Facebook.
Speaker 1: They don't. Nobody gives me infermistion I join. If one
Speaker 1: of them wants to censor me or charge me, I
Speaker 1: can just move to the next. What that does is
Speaker 1: that creates competition. We get better service, products and prices.
Speaker 1: When we have competition, we'll get more features things like that.
Speaker 1: It also allows other technologies that are already peer to
Speaker 1: peer to flourish more. So, for example, we can do
Speaker 1: file sharing peer to peer. We can do video calls.
Speaker 1: We don't need zoom. There's an app called keat. Now
Speaker 1: k eet that allows us to go peer to peer
Speaker 1: video conference, peer to peer, not going through Zoom servers
Speaker 1: that are supposedly going through China servers. We can go
Speaker 1: peer to peer using something like keat, and it all
Speaker 1: uses this open source relay model. Now what happens when
Speaker 1: you put those two together. So now you've got this
Speaker 1: open source communication protocol, and now we have Bitcoin, which
Speaker 1: is an open source monetary protocol. And now they work together.
Speaker 1: So now using Noster and Bitcoin, we can move information
Speaker 1: and money, which is also information, seamlessly and decentralized. Anybody
Speaker 1: in the world with a smartphone can join the global
Speaker 1: information network, the global monetary network, and can transfer information
Speaker 1: and money at the speed of light for free, almost
Speaker 1: for free, without anybody's ability to censor it. What does
Speaker 1: that do for communication? What does that do for financial systems?
Speaker 1: What does that do for humanity? It's pretty amazing. Now
Speaker 1: it's important to understand that this isn't some Web three blockchain.
Speaker 1: You don't need that. Blockchains are used to achieve global consensus.
Speaker 1: Bitcoin needs that. We want to have global consensus. We
Speaker 1: want the network to tell us where the money is,
Speaker 1: who has it, and if I send money to you,
Speaker 1: everybody has to agree I sent money to you. But
Speaker 1: we don't need global consensus for our messages. We don't
Speaker 1: need global consensus for our email. We wouldn't want that.
Speaker 1: And so this is using the best of both worlds.
Speaker 1: It's showing the world that we don't need a blockchain
Speaker 1: for everything. But more importantly, opening up our monetary networks
Speaker 1: and opening up our communication networks is going to change
Speaker 1: the world because the governments are no longer going to
Speaker 1: be able to control the narrative. Back to the where
Speaker 1: I started reading this book, The Revolt of the Public.
Speaker 1: Go read the book. It's an amazing book, or just
Speaker 1: go on to a chat GBT and ask it to
Speaker 1: give you a summary. Read the book, but you'll understand
Speaker 1: that it's always the people having the power, which is
Speaker 1: information that breaks the grip of the authoritarians. And so
Speaker 1: no matter how hard they continue to squeeze, they're not
Speaker 1: going to be able to stop the decentralized revolution that's happening.
Speaker 1: If you're just tune in, you're listening to the Mark
Speaker 1: Mos Show. Of course we talk about the decentralized revolution
Speaker 1: each and every week from the lens of politics. Finance
Speaker 1: and technology. Typically, we talked about it from a very
Speaker 1: bitcoin centric, decentralized world, and now we're talking about other
Speaker 1: technologies that are happening. The world's changing. It's exciting, so
Speaker 1: let's enjoy it. That's what I got. Thanks for listening.