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WiM053 - The Saylor Series | Episode 13 | Bitcoin is Cybernetic Life
The "What is Money?" Show
Bit Coin - The Gold Standard of Business Operations
In the fiat world, you've kind of got triple entry bookkeeping. With public company, they're kind of open and then they sort of close. With a private company, they never quite close. You can never be sure. And so those two functions matter a lot. The third function is to make sure you didn't enter into any transactions which are illegal or non compliant or not permissible. That compliance sometimes comes after the transactions are entered into. Big coin solves that compliance issue am with the notes that are verifying transactions. In bickcoin, you've got 100 % compliance by the time you get six verifications down - 60 minutes. So it's completely decentralized and self- maintaining
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