[Script Info]
Title: 
[Events]
Format: Layer, Start, End, Style, Name, MarginL, MarginR, MarginV, Effect, Text
Dialogue: 0,0:00:01.96,0:00:03.55,Default,,0000,0000,0000,,We can go online in the space of ten seconds
Dialogue: 0,0:00:03.55,0:00:06.25,Default,,0000,0000,0000,,we have 20 tabs with amazing initiatives
Dialogue: 0,0:00:06.25,0:00:08.52,Default,,0000,0000,0000,,and amazing people all around the world.
Dialogue: 0,0:00:08.52,0:00:11.32,Default,,0000,0000,0000,,It naturally raises my standards and raises
Dialogue: 0,0:00:11.32,0:00:15.80,Default,,0000,0000,0000,,my expectations in terms of what I can achieve.
Dialogue: 0,0:00:15.80,0:00:18.23,Default,,0000,0000,0000,,And when I see all this stuff,
Dialogue: 0,0:00:18.23,0:00:20.48,Default,,0000,0000,0000,,it's sort of this feeling of overwhelming
Dialogue: 0,0:00:20.48,0:00:22.27,Default,,0000,0000,0000,,what the hell would I do with this?!
Dialogue: 0,0:00:22.27,0:00:24.45,Default,,0000,0000,0000,,On the other hand, when I'm clear,
Dialogue: 0,0:00:24.45,0:00:27.93,Default,,0000,0000,0000,,it's just this complete bliss and ecstasy
Dialogue: 0,0:00:27.93,0:00:30.38,Default,,0000,0000,0000,,that there's just so much richness
Dialogue: 0,0:00:30.38,0:00:32.10,Default,,0000,0000,0000,,and if you talk about wealth
Dialogue: 0,0:00:32.10,0:00:34.90,Default,,0000,0000,0000,,I feel like I have the world's
Dialogue: 0,0:00:34.90,0:00:37.74,Default,,0000,0000,0000,,collective consciousness at my fingertips
Dialogue: 0,0:00:37.74,0:00:39.66,Default,,0000,0000,0000,,and I just feel so rich!
Dialogue: 0,0:00:39.66,0:00:42.84,Default,,0000,0000,0000,,Alot of us had parents that were baby boomers
Dialogue: 0,0:00:42.84,0:00:45.32,Default,,0000,0000,0000,,and potentialy disillusioned hippies.
Dialogue: 0,0:00:45.32,0:00:47.16,Default,,0000,0000,0000,,They supported our creative side
Dialogue: 0,0:00:47.16,0:00:49.40,Default,,0000,0000,0000,,and somehow we caught their idealism.
Dialogue: 0,0:00:49.40,0:00:51.07,Default,,0000,0000,0000,,and now we're interested
Dialogue: 0,0:00:51.07,0:00:52.64,Default,,0000,0000,0000,,in the structure of money.
Dialogue: 0,0:00:52.64,0:00:55.96,Default,,0000,0000,0000,,I think it's going to be really incumbent upon
Dialogue: 0,0:00:55.96,0:00:59.68,Default,,0000,0000,0000,,those of us for whom digital technology is more natural
Dialogue: 0,0:00:59.68,0:01:01.89,Default,,0000,0000,0000,,to invent the systems of the future.
Dialogue: 0,0:01:05.35,0:01:08.50,Default,,0000,0000,0000,,I can't imagine how many great ideas out there
Dialogue: 0,0:01:08.50,0:01:11.51,Default,,0000,0000,0000,,are buried in the backs of the minds of people
Dialogue: 0,0:01:11.51,0:01:13.78,Default,,0000,0000,0000,,-- of young students, with a lot of debt --
Dialogue: 0,0:01:13.78,0:01:15.95,Default,,0000,0000,0000,,who just don't have the ability to pursue them.
Dialogue: 0,0:01:15.95,0:01:18.23,Default,,0000,0000,0000,,It's like shackling our innovators.
Dialogue: 0,0:01:18.23,0:01:20.50,Default,,0000,0000,0000,,When you base lending and credit on things like
Dialogue: 0,0:01:20.50,0:01:22.37,Default,,0000,0000,0000,,financial history or cosigners,
Dialogue: 0,0:01:22.37,0:01:24.38,Default,,0000,0000,0000,,those things exclude millions of people
Dialogue: 0,0:01:24.38,0:01:26.10,Default,,0000,0000,0000,,around the world that don't have them.
Dialogue: 0,0:01:26.10,0:01:28.34,Default,,0000,0000,0000,,However everyone has potential,
Dialogue: 0,0:01:28.34,0:01:30.95,Default,,0000,0000,0000,,and if you can base credit on future potential,
Dialogue: 0,0:01:30.95,0:01:33.67,Default,,0000,0000,0000,,that brings a lot more people into financial inclusion.
Dialogue: 0,0:01:33.67,0:01:35.68,Default,,0000,0000,0000,,It's actually not a question that you pay
Dialogue: 0,0:01:35.68,0:01:38.67,Default,,0000,0000,0000,,for what you already got,
Dialogue: 0,0:01:38.67,0:01:41.71,Default,,0000,0000,0000,,you actually pay for what you will get.
Dialogue: 0,0:01:41.71,0:01:45.76,Default,,0000,0000,0000,,The things that can be made because you paid.
Dialogue: 0,0:01:49.38,0:01:51.92,Default,,0000,0000,0000,,I think one of the things that's going on right now is
Dialogue: 0,0:01:51.92,0:01:55.21,Default,,0000,0000,0000,,a re-examination of value,
Dialogue: 0,0:01:55.21,0:01:57.64,Default,,0000,0000,0000,,and of wealth,
Dialogue: 0,0:01:57.64,0:01:59.42,Default,,0000,0000,0000,,and of assets,
Dialogue: 0,0:01:59.42,0:02:00.54,Default,,0000,0000,0000,,and of a lot of words
Dialogue: 0,0:02:00.54,0:02:01.78,Default,,0000,0000,0000,,that have a lot to do with money
Dialogue: 0,0:02:01.78,0:02:03.28,Default,,0000,0000,0000,,but really aren't about money.
Dialogue: 0,0:02:03.28,0:02:05.39,Default,,0000,0000,0000,,Money itself seems to be a mystery
Dialogue: 0,0:02:05.39,0:02:06.64,Default,,0000,0000,0000,,for most people.
Dialogue: 0,0:02:06.64,0:02:09.47,Default,,0000,0000,0000,,It is just so shockingly alien to you
Dialogue: 0,0:02:09.47,0:02:11.87,Default,,0000,0000,0000,,if you compare it for how many
Dialogue: 0,0:02:11.87,0:02:14.65,Default,,0000,0000,0000,,decades you are using it until you are questioning
Dialogue: 0,0:02:14.65,0:02:17.25,Default,,0000,0000,0000,,yourself for the frist time what it really is.
Dialogue: 0,0:02:17.25,0:02:20.18,Default,,0000,0000,0000,,We've given money the properties of the divine.
Dialogue: 0,0:02:20.18,0:02:21.53,Default,,0000,0000,0000,,You know money is not wealth,
Dialogue: 0,0:02:21.53,0:02:23.47,Default,,0000,0000,0000,,money is potential wealth.
Dialogue: 0,0:02:23.47,0:02:26.36,Default,,0000,0000,0000,,But we give it such power that it influences
Dialogue: 0,0:02:26.36,0:02:27.71,Default,,0000,0000,0000,,the way we feel about ourselves.
Dialogue: 0,0:02:27.71,0:02:30.45,Default,,0000,0000,0000,,By experiencing a complimentary system,
Dialogue: 0,0:02:33.11,0:02:35.60,Default,,0000,0000,0000,,I changed my notion of wealth.
Dialogue: 0,0:02:35.60,0:02:39.44,Default,,0000,0000,0000,,People need to see themselves more as producers.
Dialogue: 0,0:02:39.44,0:02:41.11,Default,,0000,0000,0000,,And if they see themselves as producers
Dialogue: 0,0:02:41.11,0:02:42.67,Default,,0000,0000,0000,,they can also see that
Dialogue: 0,0:02:42.67,0:02:45.54,Default,,0000,0000,0000,,they create the value and that there's probably
Dialogue: 0,0:02:45.54,0:02:48.11,Default,,0000,0000,0000,,someone out there can benefit from that value.
Dialogue: 0,0:02:48.11,0:02:51.41,Default,,0000,0000,0000,,There is actually a direct link between the kind of
Dialogue: 0,0:02:51.41,0:02:54.54,Default,,0000,0000,0000,,new social habits we are learning online
Dialogue: 0,0:02:54.54,0:02:56.51,Default,,0000,0000,0000,,and the social movement which is created
Dialogue: 0,0:02:56.51,0:03:01.30,Default,,0000,0000,0000,,we're more willing to connect with someone who
Dialogue: 0,0:03:01.30,0:03:05.13,Default,,0000,0000,0000,,we've only seen a profile of online,
Dialogue: 0,0:03:05.13,0:03:09.30,Default,,0000,0000,0000,,and to trust them, in real space or with our time
Dialogue: 0,0:03:09.30,0:03:12.51,Default,,0000,0000,0000,,I would share almost all of my information
Dialogue: 0,0:03:12.51,0:03:18.28,Default,,0000,0000,0000,,with complete strangers because I feel
Dialogue: 0,0:03:18.28,0:03:22.34,Default,,0000,0000,0000,,there's an integrity to the way I live,
Dialogue: 0,0:03:22.34,0:03:25.27,Default,,0000,0000,0000,,and it's fine for other people to know about that.
Dialogue: 0,0:03:25.27,0:03:26.10,Default,,0000,0000,0000,,As we work together
Dialogue: 0,0:03:26.10,0:03:27.75,Default,,0000,0000,0000,,creating these collective projects
Dialogue: 0,0:03:27.75,0:03:29.98,Default,,0000,0000,0000,,then trust naturally comes from that
Dialogue: 0,0:03:29.98,0:03:32.07,Default,,0000,0000,0000,,and out of that trust we then seek to
Dialogue: 0,0:03:32.07,0:03:34.25,Default,,0000,0000,0000,,organize new forms of social life
Dialogue: 0,0:03:34.25,0:03:36.43,Default,,0000,0000,0000,,so trust is at the basis of the
Dialogue: 0,0:03:36.43,0:03:37.97,Default,,0000,0000,0000,,re-creation of real communities
Dialogue: 0,0:03:37.97,0:03:39.80,Default,,0000,0000,0000,,which are no longer bounded by place,
Dialogue: 0,0:03:39.80,0:03:43.07,Default,,0000,0000,0000,,but are bounded by shared values.
Dialogue: 0,0:03:43.07,0:03:45.41,Default,,0000,0000,0000,,You put yourself in a more vulnerable state
Dialogue: 0,0:03:45.41,0:03:47.76,Default,,0000,0000,0000,,when you express what you need.
Dialogue: 0,0:03:47.76,0:03:48.51,Default,,0000,0000,0000,,We go out and we buy it
Dialogue: 0,0:03:48.51,0:03:50.71,Default,,0000,0000,0000,,from people we don't know,
Dialogue: 0,0:03:50.71,0:03:53.06,Default,,0000,0000,0000,,but we don't turn to our community.
Dialogue: 0,0:03:53.06,0:03:55.52,Default,,0000,0000,0000,,Putting all that information into one database
Dialogue: 0,0:03:55.52,0:03:58.17,Default,,0000,0000,0000,,creates an enormous amount of potential energy.
Dialogue: 0,0:03:58.17,0:03:59.94,Default,,0000,0000,0000,,When you know what a community needs
Dialogue: 0,0:03:59.94,0:04:01.46,Default,,0000,0000,0000,,you know what the market demand is.
Dialogue: 0,0:04:06.71,0:04:11.04,Default,,0000,0000,0000,,If there was a kind of bank that allowed me to
Dialogue: 0,0:04:11.06,0:04:14.91,Default,,0000,0000,0000,,convert my money to a local currency right now,
Dialogue: 0,0:04:14.91,0:04:15.84,Default,,0000,0000,0000,,I would do that.
Dialogue: 0,0:04:15.84,0:04:18.38,Default,,0000,0000,0000,,Successful businesses and other
Dialogue: 0,0:04:18.38,0:04:20.58,Default,,0000,0000,0000,,non-business organizations of the future
Dialogue: 0,0:04:20.58,0:04:23.50,Default,,0000,0000,0000,,will have to be more transparent and more human,
Dialogue: 0,0:04:23.50,0:04:25.22,Default,,0000,0000,0000,,and the ones that succeed in the long run
Dialogue: 0,0:04:25.22,0:04:26.56,Default,,0000,0000,0000,,I think are going to come back
Dialogue: 0,0:04:26.56,0:04:28.89,Default,,0000,0000,0000,,more as peers in our society
Dialogue: 0,0:04:28.89,0:04:31.64,Default,,0000,0000,0000,,so they can behave in trustworthy ways,
Dialogue: 0,0:04:31.64,0:04:34.48,Default,,0000,0000,0000,,rather than trying to tell us over and over again
Dialogue: 0,0:04:34.48,0:04:35.54,Default,,0000,0000,0000,,to trust them.
Dialogue: 0,0:04:35.54,0:04:37.18,Default,,0000,0000,0000,,Banks are going to have to evolve
Dialogue: 0,0:04:37.18,0:04:39.45,Default,,0000,0000,0000,,to meet the new business models around
Dialogue: 0,0:04:39.45,0:04:41.77,Default,,0000,0000,0000,,mediating trust and communities
Dialogue: 0,0:04:41.77,0:04:44.03,Default,,0000,0000,0000,,and the ones that do are going survive
Dialogue: 0,0:04:44.03,0:04:45.84,Default,,0000,0000,0000,,and take on a very different role,
Dialogue: 0,0:04:45.84,0:04:47.36,Default,,0000,0000,0000,,and the ones that don't I think are just
Dialogue: 0,0:04:47.36,0:04:48.58,Default,,0000,0000,0000,,going to go out of business.
Dialogue: 0,0:04:48.58,0:04:51.59,Default,,0000,0000,0000,,Try to start and think in new ways
Dialogue: 0,0:04:51.59,0:04:54.08,Default,,0000,0000,0000,,join the discussion, like this discussion,
Dialogue: 0,0:04:54.08,0:04:57.64,Default,,0000,0000,0000,,on what's to come and what is value,
Dialogue: 0,0:04:57.64,0:04:59.74,Default,,0000,0000,0000,,what could replace money.
Dialogue: 0,0:04:59.74,0:05:02.16,Default,,0000,0000,0000,,It's more about creating an atmosphere
Dialogue: 0,0:05:02.16,0:05:05.37,Default,,0000,0000,0000,,within a company or organization that allows
Dialogue: 0,0:05:05.37,0:05:08.01,Default,,0000,0000,0000,,the people who work there to speak out
Dialogue: 0,0:05:08.01,0:05:11.64,Default,,0000,0000,0000,,crazy ideas without being fired right away.
Dialogue: 0,0:05:11.64,0:05:13.68,Default,,0000,0000,0000,,Think about the first days of aviation.
Dialogue: 0,0:05:13.68,0:05:15.44,Default,,0000,0000,0000,,The Wright brothers would say,
Dialogue: 0,0:05:15.44,0:05:18.32,Default,,0000,0000,0000,,"OK, let's make this thing fly!"
Dialogue: 0,0:05:18.32,0:05:21.24,Default,,0000,0000,0000,,But they wouldn't think about huge infrastructure that is needed;
Dialogue: 0,0:05:21.24,0:05:24.66,Default,,0000,0000,0000,,airports and embassies and people and security
Dialogue: 0,0:05:24.66,0:05:27.12,Default,,0000,0000,0000,,and you know all these are huge opportunities.
Dialogue: 0,0:05:27.12,0:05:29.70,Default,,0000,0000,0000,,The bank again is not an external entity to the community
Dialogue: 0,0:05:29.70,0:05:32.93,Default,,0000,0000,0000,,but is an expression of the community itself.
Dialogue: 0,0:05:39.27,0:05:43.20,Default,,0000,0000,0000,,What are the kinds of flows that we want to see?
Dialogue: 0,0:05:43.20,0:05:44.90,Default,,0000,0000,0000,,What is that we want to shape?
Dialogue: 0,0:05:44.90,0:05:46.61,Default,,0000,0000,0000,,What is that we want to measure?
Dialogue: 0,0:05:46.61,0:05:51.34,Default,,0000,0000,0000,,And then try to design currencies for them.
Dialogue: 0,0:05:51.34,0:05:54.51,Default,,0000,0000,0000,,Think about currency as
Dialogue: 0,0:05:54.51,0:05:57.10,Default,,0000,0000,0000,,open to the principles of the free market.
Dialogue: 0,0:05:57.10,0:05:59.90,Default,,0000,0000,0000,,Just as corporations are free to compete for
Dialogue: 0,0:05:59.90,0:06:02.17,Default,,0000,0000,0000,,various value-creating opportunities,
Dialogue: 0,0:06:02.17,0:06:03.95,Default,,0000,0000,0000,,currencies should be free to compete.
Dialogue: 0,0:06:03.95,0:06:06.74,Default,,0000,0000,0000,,Different currency models competing
Dialogue: 0,0:06:06.74,0:06:09.71,Default,,0000,0000,0000,,against one another for their ability to
Dialogue: 0,0:06:09.71,0:06:11.55,Default,,0000,0000,0000,,serve different purposes.
Dialogue: 0,0:06:11.55,0:06:13.03,Default,,0000,0000,0000,,We're starting to reconsider how
Dialogue: 0,0:06:13.03,0:06:14.54,Default,,0000,0000,0000,,the commercial economy
Dialogue: 0,0:06:14.54,0:06:17.94,Default,,0000,0000,0000,,intersects with gift exchange and the commons.
Dialogue: 0,0:06:17.94,0:06:19.77,Default,,0000,0000,0000,,And no business likes to hear that
Dialogue: 0,0:06:19.77,0:06:20.78,Default,,0000,0000,0000,,something of what they're doing
Dialogue: 0,0:06:20.78,0:06:23.08,Default,,0000,0000,0000,,might fall into the commons, might be a gift,
Dialogue: 0,0:06:23.08,0:06:26.17,Default,,0000,0000,0000,,might be very cheap to do, or easy to do
Dialogue: 0,0:06:26.17,0:06:27.89,Default,,0000,0000,0000,,but they are, it is.
Dialogue: 0,0:06:27.89,0:06:30.00,Default,,0000,0000,0000,,and if you actually have your eyes open and look
Dialogue: 0,0:06:30.00,0:06:32.54,Default,,0000,0000,0000,,at those forces and understand them deeply,
Dialogue: 0,0:06:32.54,0:06:34.71,Default,,0000,0000,0000,,you will see new business opportunities
Dialogue: 0,0:06:34.71,0:06:36.51,Default,,0000,0000,0000,,around the commons,
Dialogue: 0,0:06:36.51,0:06:38.28,Default,,0000,0000,0000,,contributing to the commons,
Dialogue: 0,0:06:38.28,0:06:40.15,Default,,0000,0000,0000,,being in a symbiotic relationship
Dialogue: 0,0:06:40.15,0:06:41.48,Default,,0000,0000,0000,,with the commons that are different
Dialogue: 0,0:06:41.48,0:06:43.60,Default,,0000,0000,0000,,from the way we used to do business.
Dialogue: 0,0:06:43.60,0:06:46.87,Default,,0000,0000,0000,,And I do think there is a great
Dialogue: 0,0:06:46.87,0:06:49.81,Default,,0000,0000,0000,,money making opportunity
Dialogue: 0,0:06:49.81,0:06:52.04,Default,,0000,0000,0000,,in currency innovation
Dialogue: 0,0:06:52.04,0:06:54.34,Default,,0000,0000,0000,,so that rather than simply innovating
Dialogue: 0,0:06:54.34,0:06:56.80,Default,,0000,0000,0000,,in terms of the financial instruments built on top
Dialogue: 0,0:06:56.80,0:06:58.54,Default,,0000,0000,0000,,of the current currency system
Dialogue: 0,0:06:58.54,0:07:00.05,Default,,0000,0000,0000,,you go underneath
Dialogue: 0,0:07:00.05,0:07:02.16,Default,,0000,0000,0000,,and actually develop new operating systems.