We Study Billionaires - The Investor’s Podcast Network BTC087: Bitcoin Fedimint - A Decentralized Custody Protocol w/ Obi Nwosu (Bitcoin Podcast)
Jul 20, 2022
Obi Nwosu, a board member of Btrust and founder of the UK's Coinfloor, shares his journey in the Bitcoin world. He discusses insights from running a major exchange, emphasizing transparency, trust, and user needs. The conversation delves into the Fedimint Protocol, a decentralized custody solution that enhances privacy and security for Bitcoin users. Obi envisions a future where this technology empowers financial inclusion and supports self-custody, especially in regions with infrastructure challenges.
AI Snips
Chapters
Transcript
Episode notes
Obi's Bitcoin Journey
- Obi Nwosu, with a background in computer science and cognitive science, co-founded Coinfloor, a Bitcoin exchange, in 2013.
- Driven by a desire to address disparities between the Global South and the West, he aimed to create a trusted exchange in the UK.
Early Regulatory Landscape
- Coinfloor, despite aiming for regulation, initially wasn't considered a regulated activity by the FSA.
- They implemented proof of reserves monthly for eight years, a practice many other exchanges promised but didn't follow.
Key Learnings from Coinfloor
- Avoid regulation if possible to foster innovation in Bitcoin.
- Choose partners and investors carefully, as differing visions can lead to significant challenges.