There are trillions of dollars worth of capital not being used. Or rather, they are being used so ineffectively that they might as well not be used. Capital tied up in the supply chain and slowed by the ancient fiat system results in a lot of waiting, borrowing and general ineffective use. Sweetbridge thinks they can fix that, but only if regulators let them.
The financial regulatory system in the United States is a hodgepodge of different state regulations, federal regulators and red tape that is preventing financial innovation that could free up untold capital and reinvigorate our economy.
Sweetbridge[1] CEO Scott Nelson went to Capital Hill for a Chatham House Rules enforced meeting on financial regulations in regards to blockchain technology. I talked to him afterwards at a quiet capital city bar and he did not seem to come away optimistic about the future of blockchain innovation in the United States.
“There is a financial war going on, a war for capital” he explained “and America is losing. They don’t even know it is happening.”
What he is referring to isn’t the type of war fought with bombs. He isn’t even talking about a trade war, the type of which our current president seems determined to involve us in. What Nelson means when he says there is a financial war, is one for the wallets and bank accounts of everyone from multi billion dollar companies to individual consumers. The war of commerce.
The United States has a few significant advantages in this war, even as it is oblivious to its existence. We remain, for a little while longer[2] anyway, the largest economy in the world. We have vast amounts of disposable income. And this enables us to demand certain concessions for companies that wish
