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.
-
3:10:27
Mr Obnoxious
10 days agoUAPs, Simulation Theory & Human Consciousness | Matthew Pines x Mr Obnoxious Podcast
4.82K12 -
12:51
AdamDoesMovies
16 hours agoAm I Racist? Movie Review - Is This Funny?
861 -
38:20
Degenerate Plays
15 hours agoDoctor, Doctor, Give Me The News - Assassin's Creed : Part 12
3.25K -
24:37
GameLeap RAID Shadow Legends
16 hours ago15 BEST EPICS You MUST MAX in 2024 (Every Faction) - Raid Shadow Legends Tier List
1.68K1 -
15:50
RealitySurvival
11 hours agoKeystone Meats - Next Level Long Term Food Storage!
2.87K1 -
2:48:50
vivafrei
21 hours agoEp. 229: P Diddy DENIED BAIL! Pool SUES Kamala Harris! Jamie Raskin "DISQUALIFYING" Trump & MORE!
167K480 -
1:59:11
Nerdrotic
14 hours agoAncient Apocalypse Returns - Atlantis Puzzle Review | Forbidden Frontier #075
172K26 -
LIVE
Vigilant News Network
21 hours agoVaccine Horror Shocks the World: Exclusive Update - Media Blackout
2,203 watching -
1:25:19
Josh Pate's College Football Show
12 hours agoTennessee Silences OU | Michigan Beats USC | Hugh Freeze Problem | Early UGA-Alabama Thoughts
79.4K4 -
6:34:23
Barstool Gambling
19 hours agoDave Portnoy, Big Cat, and Co Sweat Out the Sunday Slate | Barstool Gambling Cave
86.3K10