Here is the full transcript of Blockchain Revolution author Alex Tapscott’s TEDx Talk: Blockchain is Eating Wall Street at TEDxSanFrancisco conference. This event occurred in October 2016.
Listen to the MP3 Audio: Blockchain is Eating Wall Street by Alex Tapscott at TEDxSanFrancisco
It’s been over eight years since Lehman Brothers went bankrupt. But the financial crisis still continues to cast a long shadow over all of our lives.
What began as an economic calamity has morphed into something that’s more corrosive and arguably more dangerous — a crisis of legitimacy, not just in banks but in many of our institutions, including governments. We’re feeling now that globalization, capitalism, even democracy are in retreat while populism, nativism, protectionism are on the rise.
And really who is to blame the people who support these kinds of ideologies? Europe has lost an entire generation to economic stagnation. Social and economic inequality is at the highest level it’s been since the Great Depression. In October, this month, Spain’s youth unemployment rate is at 45%, eight years after the crisis.
Now there is no silver bullet to fix the many problems that ail society. But why not start with where it all began? We have an opportunity — arguably once in a generation opportunity, to reinvent financial services for a new era of trust and legitimacy.
Now the leaders of the industry today, many of the banks and others have a choice to make. They can either do it themselves or have it done to them, because we are entering a new era of technology. You’ve heard the expression “software is eating the world”. Well, software is finally eating Wall Street.