1/ There is a socio-financial transition taking place in the world.
2/ The organisation of our world into nation-states no longer ministers to the needs of humanity.
3/ Humanity yearns to be unified; yet our structures continue to divide us.
4/ Money is one of those structures, predominantly defined by the nation-state.
5/ The divisions and frictions caused by our antiquated nation-state system have permeated our financial system.
6/ These frictions license financial intermediaries to extract financial value from humanity’s cross-border relationships, often at exorbitant rates.
7/“It is expensive to be poor” is truer in the financial industry than any other.
8/ We need a new organizational paradigm for society that transcends the nation-state. This in turn will remove some of the frictions in our financial system.
9/ But our political systems are mired in vested interests that a deliberate transition by those in power to a system that puts the whole ahead of its constituent parts seems unimaginable, propagating the financial frictions.
10/ In the absence of a societal paradigm that eliminates these man-made frictions, #cryptocurrencies (and #cryptoassets in general) have emerged and rise above national borders.
11/ #Crypto doesn’t just promise to be the most frictionless asset class humanity has seen, it questions the world’s entire organisational set-up, including our financial system.
12/ This doesn’t mean that our current financial system and fiat currencies will disappear overnight.
13/ This doesn’t even mean that the cryptoassets in existence today will form the foundation of our future financial system.
14/ But it does mean that humanity has discovered a technology that is too powerful to wither away.
15/ We haven’t grasped the full potential of this technology for humanity, and the price levels and volatility can be likened to the birth pangs of something great to come.
16/ My excitement about the #crypto space has prompted me to resign from my job of the last 2.5 years as Blockchain Lead of Africa’s largest bank by market cap to dedicate my energies full time to the crypto space.
17/ Despite the recent ~70% decline in #bitcoin prices and the #crypto market cap, many people have seen a glimpse of what this technology promises and a huge number of them have left their work in the old system to start building the new.
18/ I'm thinking of you @tbohnenJnr @badikumar @AmberBaldet @ErikVoorhees @SonyaKuhnel @aantonop @starkness @ethereumJoseph @e_rossiello @adamludwin @SimonDingle @iam_preethi @VinnyLingham @zooko @AriDavidPaul @Melt_Dem @simondlr @tkembo @cburniske @ahopebailie + many more.
19/ Our team will be building a platform that helps bridge the gap between centralized and decentralized digital assets. More information coming soon.
20/ If you’re interested in contributing to a more just financial system and you’re a designer, developer or you have any other skill to lend, please reach out.
FIN/ I’m tremendously excited and also filled with trepidation. But there’s only one way to transform this world: Just try.
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