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Back to David Vélez - Building Nubank and the Future of Global Banking, with David Vélez.

How Many Currencies Will Exist in Twenty Years?

David Vélez expects about 190 currencies around the world to fall to maybe 10 within 10 or 20 years. Fiscal trouble in so many countries is so dire that a lot of fiat money is not real money and works like crypto tokens.

More mobile people will live between a home fiat system and a global offshore system without always noticing the switch. In many countries, access to Bitcoin and stablecoins already pushes people to bank offshore because they do not trust the local banking system or the local fiat currency. Billions of people will bank in the offshore world on a US stablecoin, Bitcoin, and other assets, while the fiat system and the offshore system keep interrelating.

Grokipedia·Bitcoin

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David Vélez - Building Nubank and the Future of Global Banking ·

Invest Like the Best with Patrick O'Shaughnessy

More from this episode

  1. Why Is Banking Still in a Blockbuster Era?David Vélez says banking is still in a Blockbuster era because about 90% of a roughly $10 trillion consumer financial services industry still goes through…
  2. How Does Nubank Test New Features So Fast?David Vélez says Nubank has treated itself since the beginning as a technology company that happens to be in financial services, so data and analytics drive…
  3. How Does Going Cashless Unlock Credit for Small Businesses?David Vélez says going cashless unlocks credit for small businesses because a digital sale leaves a cash-flow record a bank can underwrite.
  4. Why Did Nubank Start Credit Lines at Twenty Dollars?David Vélez says Nubank started a lot of people with a twenty dollar credit line because twenty dollars was better than zero.
  5. Why Is Nubank Launching in the United States?David Vélez says Nubank is launching in the United States because digitally native companies solve cost, access, and intelligence better than branch banks…
  6. How Profitable Is Nubank With No Fees?David Vélez says Nubank charges no fee and still ends up with a return on equity two to three times the return on equity of the big incumbent banks in the…
  7. How Did Nubank Rebuild Itself Around AI?David Vélez says Nubank rebuilt its organization around AI after it missed the December moment when the new models started writing Clojure well.
  8. Why Is David Vélez Still Focused on Nubank?David Vélez is still focused on Nubank because about a year or two of asking whether he should do something beyond the company ended in a clear answer…
  9. Why Do Founder-led Companies Keep Outperforming?David Vélez says founder-led companies continue to outperform for decades because, when a leader has to choose, the founder mode wins, especially in big…

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