Part 6/11:
Impact on the Financial System and Entrepreneurs
The speaker emphasizes how Bitcoin can disrupt traditional financial services—notably international remittances—especially in poorer nations where transaction fees can be exploitative. Using a simple analogy, they describe how a few lines of code (like a Python script) could revolutionize entire industries, making payments faster, cheaper, and more accessible.
For entrepreneurs, Bitcoin offers a way to sell products and services globally, collecting payments from anywhere in the world without intermediaries. The concept of microtransactions becomes feasible, enabling small payments that were previously impossible or uneconomical due to high fees from traditional systems like credit cards.