Bitcoin for Banking Failures with Parker Lewis - WBD737

Parker Lewis is a Bitcoin writer and educator and Head of
Business Development at Zaprite. In this interview, we discuss
the 2023 North American Blockchain Summit in Fort Worth, the
benefits and challenges of Bitcoin payments, and the potential of
Bitcoin becoming a critical rail for global payments. We also
talk about the risks of the traditional banking system, the
urgency needed to fix the current monetary system, and how
Bitcoin's fixed supply could potentially help.


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This is another podcast I have made in the shadow of the
impressive North American Blockchain Summit 2023 in Fort Worth,
Texas. It’s a great opportunity to catch up with some of the best
minds within Bitcoin such as the amazing Parker Lewis!


We got quickly into the weeds of Bitcoin payments and the
challenges of managing multiple lightning wallets for different
purposes. Parker set out how the product he’s helping develop,
Zaprite, aims to resolve this problem by providing a seamless
payment experience, allowing funds to be directed to different
lightning wallets or accounts. We also touched on the importance
of creating a unified experience between fiat and Bitcoin
payments to encourage adoption.


Our discussion delved into the risks and challenges associated
with traditional banking systems and the importance of Bitcoin as
a solution. The system needs resilience, which Bitcoin provides.
Further, the speed and simplicity of Bitcoin stands in stark
contrast to the inefficiencies and delays involved in traditional
banking. Parker explained that Bitcoin also serves as insurance
at an individual level for currency failure and as an insurance
policy for businesses.


We explored the concept of the 21 million fixed supply of
Bitcoin, and that by understanding why Bitcoin solves the problem
of purchasing power, people can then understand how it can also
solve other problems, such as the risk of banks failing, the
fragility of the legacy payment system and providing an actual
solution to inflation.


Parker believes there is an urgent need to fix the current
monetary system, comparing it to a flood requiring immediate
attention. He believes that those who understand Bitcoin should
prioritise working on it rather than other projects. This podcast
is therefore a call to arms for those who value the importance of
Bitcoin in today's digital age. Bitcoin has the potential to not
only revolutionise traditional banking but to save the monetary
system as a whole.


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Show notes:
https://www.whatbitcoindid.com/podcast/bitcoin-for-banking-failures


This episode’s sponsors:
Iris Energy - Bitcoin Mining. Done Sustainably
Bitcasino - The Future of Gaming is here
Ledger - State of the art Bitcoin hardware wallet
Wasabi Wallet - Privacy by default
Unchained - Secure your bitcoin with confidence
OrangePillApp - Stack Friends Who Stack Sats