Review: Uncensored Crypto docuseries episode #7

In the Uncensored Crypto docuseries, we interview key figures about blockchain technology and its potential to change the world forever. Episode 7 of the docuseries focuses specifically on how cryptocurrency can help fight financial inequality.

There have been many arguments against crypto that have arisen over the years. Some criticize the fact that mining Bitcoin requires a lot of energy, but many of these same critics never mention that cryptocurrency could offer a bridge to the unbanked. 

In this episode, our CEO, Michael Hearne, converses with guests about blockchain, microloans, remittances, banking, and much more. Here are some interesting points made in Episode 7 of the Uncensored Crypto docuseries.

Banks are in trouble

U.S. banks are bringing in hundreds of billions of dollars every year. Some believe there’s no way that blockchain can eventually bring them to their knees, especially when many banks are embracing blockchain technology and cryptocurrency now that they understand its potential. Brian Rose, a guest with 15 years of experience in the banking industry, thinks that you might be wrong if you share this opinion.

In the seventh episode of the Uncensored Crypto docuseries, Rose adds that stablecoins, in particular, are a huge threat to established banks right now. He claims stablecoins are currently “threatening the bread and butter of centralized financial institutions.” Brian believes that bankers are in this strange space where they have to deal with a battle between customer demand and regulation, and it’s not clear how it will play out. He adds: “It’s innovating at the speed of light right in front of our eyes.”

DeFi can power microloans

Brock Pierce is a well-known crypto entrepreneur and he appears in this Uncensored Crypto docuseries episode to talk about DeFi. He points out that Muhammad Yunus and his research proved that microloans can help marginalized communities, but also recognized that it wasn’t necessarily that profitable for the banks. In other words, these small loans have to come from somewhere else.

Pierce believes that this is where decentralized finance will play a massive role. He thinks banks not offering more microloans is a “system problem,” rather than blaming the banks directly. According to Pierce, the good news is that blockchain allows the creation of new DeFi tools to tackle these problems.

Using the blockchain for good

Blockchain technology has many use cases and advantages over existing technologies, but many entrepreneurs are looking to create tokens or companies rather than change the world for the better. Luckily, there are some exceptions. Dr. Jane Thomason, an author, futurist, and social impact entrepreneur, makes an appearance in Uncensored Crypto episode 7 to elaborate on financial inclusion.

Thomason appreciates the fact that all it will take is a mobile phone and DeFi for someone to potentially become a blockchain entrepreneur, even without access to traditional financial infrastructure. She also asserts that one of the most significant blockchain use cases involves the idea of creating (and controlling) your own digital identity. 

Uncensored Crypto is here

The entire docuseries has a lot more to offer than just these insights, and we hope you take the time to check out the docuseries. Uncensored Crypto explores crypto, its many applications and use cases, and different perspectives about how crypto will change the world and how we think about money, power, censorship, and decentralization.