What is this blockchain, on which we store our cryptocurrency?
It’s not your bank: it has no customer service department, no helpdesk, no pens on the end of bits of string. It won’t lend a sympathetic ear if you fall on hard times. But it can’t control or reverse your transactions either, or decide who you can and can’t pay.
It’s challenging, and liberating, at the same time – because it’s certainly not what we’re used to. No wonder it takes a little while to acquire the necessary Crypto Confidence – but we’re here to help.
This episode reflects on the ways that different financial products market themselves to us from a customer service point of view, using everything from celebrity endorsement to incentives and gifts – but the way this comes at a price, that being our privacy and identity. If we want to reclaim the ability to manage our assets on the blockchain completely independently, we need to be ready to ‘be our own bank’ – and that’s quite a daunting prospect, it’s completely different to everything we are used to. But you don’t have to be criminal money launderer to deserve a little privacy, and we’re here to help you get started.
Also, our Crypto Alphabet starts today:
A is for Altcoin – Bitcoin was the original, but now over 2000 alternative crypto coins and tokens exist. They all have different properties, and fulfill different needs and roles. Find out more in today’s show!
If you like what you hear, we’ll be sharing new episodes every fortnight. So please subscribe via your podcast app of choice.
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We also have a new Telegram group, for all things crypto – come and chat! (if you’re new to Telegram don’t worry, it’s just another messaging app, and very easy to get started with).
And remember: nothing in this podcast or our related social media, nor anything else published by BlockSparks OU at any location, is intended as financial, investment or trading advice. Everything we share represents our personal opinions, for your information, education, and entertainment only. You should not make any decisions based on anything we share with you, not without undertaking independent due diligence and consultation with appropriate professional advisors. CryptoConfidence is all about being smart and informed and making the right choices for YOU.