KEYNOTE: Bitcoin and the Ligthning Network... by Jack Mallers  

Early B adoption. Hehe

Since the world came off the gold standard in 1971 (because of the US) there hasn’t been anything physical that works as the underlying colateral of every dollar. He’s arguing that the colateral are now central bank reserves which are dollars that pass from banks and commercial banks to settle up with each other. You and I use commercial bank money when we pass each other money but banks and Central banks use reserve money which is a closed loop system that you or I can’t access.

@@planestrainsandbuggies Many Thanks!