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  • you told this story recently where you were trying to get a small dollar payment from one of your, from someone in Russia.

  • Right?

  • And you were just saying how that became a massive issue.

  • Um And how maybe 100 years ago it wouldn't have been because people paid each other with cash?

  • Well, no, I mean in 100 years ago we didn't have a connected international world where people operate across international borders.

  • As much traders who moved between countries.

  • Yes, they use cash.

  • But mostly they use gold.

  • They use gold coinage issued by, among others, Britain and spain and Germany.

  • And they use those.

  • Yeah.

  • Until those stopped circulating.

  • And what happened with you when you tried to get a $500 payment made from Russia?

  • Like what did you look?

  • It took five or five or six months if I remember correctly of back and forth.

  • And who are these people?

  • They're my publisher, Great.

  • Who owns the company list of all of the shareholders?

  • What are their personal home address is, what percentage of the company to they own?

  • It's like they translated my book.

  • Um but I had to go through this whole process of justifying to my own bank, the american bank that these people were not involved in something.

  • So it's basically guilty until proven innocent of course, but also it disproportionately affects people who already do not have privilege.

  • I'll tell you really, really important story about what happened to me recently, in fact, last week.

  • So last week I was in Berlin and I was at a conference and I was talking about privacy and security and trust and the impact of cryptocurrencies.

  • And after I was doing a book signing at the conference and this guy comes up to me and he said, I was really touched by what you said and I want to share my personal story with you because this is very very personal to me and he said I have not been able to open a bank account in more than 10 years.

  • Um I'm Iranian I was born in Iran.

  • I haven't been to Iran And more than 15 years young kids who was in his twenties last time he was in Iran is probably like five or six years old maybe right, have a chop.

  • I pay taxes, I have a college education.

  • I don't break the law.

  • I'm entirely aboveboard.

  • All I want is somewhere for my my company to pay my salary so I can have a debit card and buy groceries.

  • I cannot open a bank account.

  • I couldn't open a bank account when I lived in Malaysia for four years.

  • I can't open a bank account now that I live in Germany for six years.

  • Every bank I go into the moment I say my name and they asked me in my place of birth, they immediately stop everything.

  • I can't open a bank out.

  • Doesn't matter how many things I show them.

  • I have no criminal record.

  • I've lived in you know, free countries for so many years.

  • Um and simply because of where I was born, something I had no control over and I have no association with anyone in this country, I have no association with the government, no interest in the politics.

  • Just because of where I was born, I cannot live my life.

  • I cannot transact so you were talking about you know the british banks don't like you imagine.

  • And this happened, this is the list of countries this happens to is probably more than a dozen nowadays, but it's getting longer because we're now getting more into the using currency as a weapon in trade wars and as a weapon in in cold wars between countries and so sanctions and embargoes etcetera, which of course hurt the innocent people who live in these countries more than they heard.

  • The leaders who have swiss bank accounts or american bank accounts to be honest, because that's a great tax haven.

  • Um you know, these people through no choice of their own.

  • I've done nothing wrong, are prejudged by corporations that have no obligation to due process.

  • There is no way to get out of this Kafkaesque nightmare.

  • Right?

  • So they're in a financial jail into which they've been convicted without a trial and from which they can't escape because there's no appeal.

  • And the banks can simply say no for no reason without even telling you why and that's it.

  • There's nothing you can do about it.

  • And of course, when a bank account is now required to do almost anything, try renting an apartment without a bank account, without throwing bank statements, or um try running a business without a bank account.

  • So, you know, if you need an ID to get a bank account, you need bank out to get everything else.

  • But it's not a right, it's a privilege and it's a privileged controlled by a private corporation that is running under rules imposed by a government bureaucracy, not because of some law that's passed, but because of some administrative decision they made recently.

  • And you can just cut off millions of people from access to the world economy, make them non people.

  • From the perspective of their ability to transact with others.

  • We have to stop this.

  • Not only do we have to find a better way, but we have to unroll what's happening already.

  • And to me, that's the that's the biggest imperative.

  • This is about the other six billion people and we're very far away from it.

  • The technology isn't ready, but the direction is right.

  • Yeah, wow.

  • one of the worst.

  • Yeah.

  • Why?

  • More?

  • More more, Yeah.

  • Mhm.

you told this story recently where you were trying to get a small dollar payment from one of your, from someone in Russia.

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    林宜悉 posted on 2021/05/29
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