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Banking on Africa: The Bitcoin Revolution

But, to be fair, if you compare it to the traditional financial system, that's not really...

But, to be fair, if you compare it to the traditional financial system, that's not really clear as crystal either

Full Transcript

00:00:01.000 --> 00:00:02.009
But, to be fair, if you compare it
00:00:02.009 --> 00:00:04.066
to the traditional financial system,
00:00:04.066 --> 00:00:07.045
that's not really clear as crystal either.
Duration
7 seconds
Views
22
Timestamp in Movie
00:19:48
Uploaded
May 27, 2025
Genres
documentary
Production
N/A

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Movie Summary

This documentary follows the journey of Bitcoin pioneers as the African continent seeks to leverage cryptocurrency to increase their independency from a banking system that fails them.
It's really very difficult to understand - Banking on Africa: The Bitcoin Revolution 00:10
It's really very difficult to understand
The item in question is this over here, - Banking on Africa: The Bitcoin Revolution 00:06
The item in question is this over here,
You're gonna be bidding for this 100 rand note. - Banking on Africa: The Bitcoin Revolution 00:04
You're gonna be bidding for this 100 rand note.
A slight switch though on the traditional auction model - Banking on Africa: The Bitcoin Revolution 00:10
A slight switch though on the traditional auction model
180 rand going once, - Banking on Africa: The Bitcoin Revolution 00:06
180 rand going once,
You can come and settle afterwards - Banking on Africa: The Bitcoin Revolution 00:06
You can come and settle afterwards
It's not that central financial authorities were a bad idea. - Banking on Africa: The Bitcoin Revolution 00:04
It's not that central financial authorities were a bad ...
It gave us a way of scaling up to what now - Banking on Africa: The Bitcoin Revolution 00:05
It gave us a way of scaling up to what now
You could travel to the other side of the world - Banking on Africa: The Bitcoin Revolution 00:14
You could travel to the other side of the world
That's the second highest price - Banking on Africa: The Bitcoin Revolution 00:05
That's the second highest price
It's a great game for me - Banking on Africa: The Bitcoin Revolution 00:10
It's a great game for me
It's designed so that I'm gonna win - Banking on Africa: The Bitcoin Revolution 00:07
It's designed so that I'm gonna win
We all remember what happened - Banking on Africa: The Bitcoin Revolution 00:05
We all remember what happened
In that situation, we were reminded again - Banking on Africa: The Bitcoin Revolution 00:05
In that situation, we were reminded again
We have a fractional reserve banking system - Banking on Africa: The Bitcoin Revolution 00:17
We have a fractional reserve banking system
When a bank gives you a loan to buy a house, for example, - Banking on Africa: The Bitcoin Revolution 00:07
When a bank gives you a loan to buy a house, for example,
That's basically money they can make out of thin air. - Banking on Africa: The Bitcoin Revolution 00:04
That's basically money they can make out of thin air.
But when you have a run on the bank, - Banking on Africa: The Bitcoin Revolution 00:11
But when you have a run on the bank,
Governments then stand - Banking on Africa: The Bitcoin Revolution 00:05
Governments then stand
So, governments say, if the bank doesn't have enough money - Banking on Africa: The Bitcoin Revolution 00:08
So, governments say, if the bank doesn't have enough mo...