Where are NFTs Stored? + The Basics of Blockchain and Crypto w/ Simon Grunfeld

In this episode, Shamus Madan engages with Simon Grunfeld, a fintech and blockchain expert. They delve into global cryptocurrency transactions, decentralized applications, and DeFi. They also discuss blockchain's energy consumption, the storage of digital assets, and Bitcoin's scarcity. The conversation extends to security token offerings, the future of Dogecoin, and Elon Musk's impact on the crypto market.

In this episode, I had Simon Grunfeld (VP of Crypto at SIMBA Chain) on to discuss some basics revolving around blockchain, crypto, what gas fees are, and where the NFTs you buy are stored (hint: not on the blockchain).

Twitter of Host: @mbitpodcast

Twitter of Guest: @simongrunfeld

Disclaimer: The podcast is NOT financial or investment advice. The podcast is also not a research report and should not be used for the basis of any investment decision. The podcast is NOT a recommendation to buy or sell crypto.

(0:00) Introduction and Simon Grenfield's background in fintech and blockchain (4:19) The role and impact of cryptocurrencies in global transactions (7:41) The rise of decentralized applications, DeFi, and the explanation of gas fees (10:10) The energy consumption issue and future of energy efficiency in blockchain technology (14:17) Problems and solutions in storing digital assets in blockchain (16:02) Scarcity of Bitcoin vs historical idea of scarcity and comparison to Tulip mania (18:38) The emergence of security token offerings (STOs) and regulatory compliance (19:58) The value and potential future of Dogecoin (21:29) The influence of Elon Musk on the crypto market (24:11) Closing remarks and thanks to Simon Grunfeld